CRAWFORD UNIVERSITY
Crawford University
STUDENTS’ HANDBOOK
(2011 - 2013)
COLLEGE OF BUSINESS AND SOCIAL SCIENCES
ECONOMICS
Economics
i
A Publication of Crawford University
P.M.B. 2001, Crawford University
Km 8, Ota – Atan - Agbara Road
Faith City, Igbesa, Ogun State
Nigeria
Copyright ©CRU March 2012
College Colour:
Royal Blue
Cover Designed and Printed by:
Mustard Communication
10 Adeoye Fatore Street,
PAB B/ Stop Ikotun Idimu Road
Email Samdaodu@gmail.com
080333040269
Economics
ii
TABLE OF CONTENTS
Pages
Title Page
i
Copyright Page and Publication History
ii
Table of Contents
iii
Addresses
iv
Objectives of the University
v
Visitor and Principal Officers of the University
vii
Foreword
viii
Officers of the University
ix
Dean’s Remarks
x
General Information
1
Department
24
Economics
iii
ADDRESSES
Requests for information regarding the University should be sent to:
The Registrar:
Crawford University
Faith City, Igbesa, Ogun State.
Postal Address:
P.M.B. 2001, Igbesa, Ogun State, Nigeria.
Website:
www.crawforduniversity.edu.ng
E-mail:
vc@crawforduniversity.edu.ng
registrar@crawforduniversity.edu.ng
dean-cbss@crawforduniversity.edu.ng
hod-managementstudies@crawforduniversity.edu.ng
hod-econsaccfin@crawforduniversity.edu.ng
hod-soc-irpm@crawforduniversity.edu.ng
hod-polsciir@crawforduniversity.edu.ng
Telephone:
Vice-Chancellor: 08056697800
Registrar: 08056697802
Deputy Vice-Chancellor: 08056697805
Dean’s Office: 08056697803
Academic Planning Unit: 08031183200
Public Relations and Information Unit:
UNIVERSITY PRO 0803545652
Telephone Room:
Economics
iv
VISITOR AND PRINCIPAL OFFICERS OF THE UNIVERSITY
VISITOR
Rev. Emmanuel Adebayo Adeniran
District Superintendent, Apostolic Faith Mission
West and Central Africa Headquarters, Lagos
CHANCELLOR
Chief Oludolapo Ibukun Akinkugbe CON
PRO-CHANCELLOR AND CHAIRMAN GOVERNING COUNCIL
Professor Peter Akinsola Okebukola OFR
VICE-CHANCELLOR
Professor Samson Adenola Ayanlaja
B.Sc (Hons Ibadan), MBA, Ph.D (Reading), Cert. Irrig (Israel)
DEPUTY VICE CHANCELLOR
Professor Emmanuel Abiodun Fayose
B.Sc, Ph.D (Wales)
REGISTRAR & SECRETARY TO COUNCIL
Mr. Tunde Oluite Adekoya
B.Sc (Hons), M.ILR (Ibadan), M.PP (Ogun), MNIM, AIPM
UNIVERSITY BURSAR
Rev. Elijah O. Ajayi
FCA, ACMA
UNIVERSITY LIBRARIAN
Mr. Thomas Akinbayo Adigun
B.Sc. (Hons) Ife, MLS. (Ibadan)
Economics
v
OBJECTIVES OF THE UNIVERSITY
Crawford University was established in 2005. Seven years after, the
University is manifesting the dream of its founding father, put together in form
of the objectives of the University.
The objectives of the University are:







To give the opportunity of acquiring a higher education to all;
To provide relevant courses of instruction and other facilities for
the pursuit of learning in such branches of knowledge as the
University may desire to foster and in so doing make those
facilities available on proper terms to such persons as are
equipped to benefit from them;
To promote scholarship and encourage the advancement of
learning;
To conduct relevant research into human problems and their
alleviation;
To relate its activities to the social, cultural and economic needs
of the people of Nigeria in particular, and the world in general,
To undertake any other activities appropriate for a University of
high repute, and
To produce well-rounded graduates, who will be academically
sound, creative, with good morals and the fear of God.
Economics
vi
OFFICERS OF THE COLLEGE
DEAN
Prof Olusola Ojo
B.A., M.Sc, PhD
COLLEGE OFFICER/ASST REGISTRAR
Mr. Oni Ogunleye Kolawole
M.Ed, B.Ed, Dip Ed
SECRETARY TO THE DEAN
Mr. Sunday Ogunkorode
NCE, Dip in Computer Studies, WASC
OFFICE OF THE DEAN
S/N NAME
1.
Prof. Olusola Ojo
2.
Mr. Sunday
Ogunkorode
3
Miss. Victoria
Udoh
DESIGNATION
Dean
Personal Secretary
Executive Officer
Economics
QUALIFICATION
PhD, M.Sc., B.A
NCE, Dip. in Computer
Studies, WASC
B.Sc, WASC
vii
HEADS OF DEPARTMENTS
DEPARTMENTS
1.
2.
3.
4.
HEADS
Management Studies
Yalokwu
Sociology & IRPM
Simpson
Economics, Accounting & Finance
Macaver
Political Science & International Relations
Adeola
Prof. P.O.
Prof Alaba
Dr. O.J.
Dr. G.L.
S/N PROGRAMMES
HEADS
QUALIFICA
TIONS
1
2
Business Administration
Marketing
Prof P.O. Yalokwu
PhD, MBA,
B.Ed.
3
4
Sociology
Industrial Relations &
Personnel Management
Political Science &
International Relations
Economics
Accounting
Banking & Finance
Prof. Alaba Simpson
PhD, M.A.,
B.A.
PhD, M.Sc,
B.Sc.
5
6
7
8
Dr G.L. Adeola
Dr. O. J. Macaver
PhD, M.Sc.,
B.Sc.
COLLEGE OFFICIALS
S/N NAME
1.
Mr. Ogunleye
Kolawole Oni
2.
Mrs. Temitope
DESIGNATION
College Officer
QUALIFICATION
M.Ed, B.Ed, Dip Ed
Assistant Executive
B.Sc (Ed), Dip Ed
Economics
viii
3
4.
Ruth Imafidon
Mr. Joseph
Majasan
Mr. Nwabueze
Nwankwo
Officer
Data Processing
Officer
NYSC Member
B.Sc (Computer
Science)
B.Sc. (Agric)
PAST AND CURRENT DEANS OF THE COLLEGE
1.
2.
3.
2005 – 2008
2008 – 2009
2009 – till date
Prof. B. A. Babalola
Prof. F. O. Adewunmi
Prof. Olusola Ojo
PAST AND .CURRENT COLLEGE OFFICERS OF THE
COLLEGE
1.
2.
3.
4.
Mrs. P. A. Ajeyalemi
Mrs. C. M. Majasan
Mrs. C. G. Ogugua
Mr. O. K. Oni
2008/2009
2009/2010
February 2010-September 2010
September 2010 till Date
Economics
ix
FOREWORD BY THE COLLEGE DEAN
The College of Business and Social Sciences was one of the two
Colleges the University started with in October 2005. The programmes
in the College were grouped under two Departments, Social Sciences
and Administration.
When the University started, there were only 156 students in all the
programmes in the College. This has increased to 915 during the current
session. At the beginning of 2009/2010 session, the programmes in the
College were arranged into four Departments. These are Economics,
Accounting and Finance; Management Studies; Political Science and
International Relations; and Sociology and Industrial Relations and
Personnel Management. Our Programmes are regularly updated to take
account of new innovations and developments in the various
disciplines.
The College currently runs B.Sc Degree programmes in Accounting;
Banking and Finance; Business Administration; Economics; Industrial
Relations and Personnel Management, Marketing; Political Science and
International Relations; and Sociology.
The College has now graduated three sets of students. Many of our
graduates are establishing themselves and are making waves in their
various chosen careers. Some are pursuing postgraduate programmes in
reputable Universities in Nigeria, Europe North America and South
America. We intend to run postgraduate programmes in some
disciplines as soon as the University enters into its second phase of the
development
Prof. Olusola Ojo
Economics
x
GENERAL INFORMATION
1.
Historical Background
The College of Business and Social Sciences was established at the
inception of Crawford University in October 2005. Currently, the
College runs four departments viz:
i. Department of Economics, Accounting and Finance
ii. Department of Sociology and Industrial Relations and Personnel
Management
iii. Department of Political Science and International Relations
iv. Department of Management Studies
All the Departments offer courses leading to the award of B.Sc Degree in all
the above mentioned disciplines.
2.
Organizational/Administration Structure
The Dean of the College is the administrative Head of the College that
exercise general control over the academic and administrative affairs of the
College. The Dean is assisted by the Heads of Departments and the College
Secretary. The Heads of the departments are responsible through the Dean to
the Vice-Chancellor for the smooth running of their Departments.
The College Secretary is the head of all the non-academic staff of the College.
He/she is the Secretary to all the College Boards and Committees. He/she also
ensures the implementation of their decisions and directives. Also, he/she
ensures the proper organization of the students’ records in the Dean’s office.
Students in the College organize academic and social activities under the aegis
of the Students’ Association relevant to the academic disciplines in the
College. Such association draws its membership from all matriculated students
in the particular academic discipline. The Departments also organize career
and motivational talks from time to time for the students among other
activities
Economics
1
3.
College Standing Committees
The Board and other Statutory Committees of the College are concerned with
the consideration of all academic matters, for example, curriculum
development, conduct of examinations and consideration of results, academic
staff matters, determination of students’ academic standing and welfare,
among other issues that might be brought before them from time to time. The
Boards and Committees are:
a.
College Board
Composition
 Vice-Chancellor – Chairman
 Dean, College of Business and Social Sciences
 All Heads of Departments in the College of Business and
Social Sciences
 All Professors in the College of Business and Social
Sciences
 One (1) Representative from the College of Natural and
Applied Sciences
 The Librarian or his/her Representative
 College Officer, College of Business and Social Sciences
– Secretary
b.
College Board of Studies
Composition
 Vice-Chancellor – Chairman
 Dean, College of Business and Social Sciences
 All Heads of Departments in the College of Business and
Social Sciences
 All Coordinators of programmes in the College
 All full time members of Academic Staff in the College
of Business and Social Sciences not below the rank of a
Lecturer II
 The Librarian or his/her Representative
Economics
2

College Officer, College of Business and Social Sciences
– Secretary
c.
College Board of Examiners of Business & Social Sciences
Composition
 Vice-Chancellor – Chairman
 Dean, College of Business and Social Sciences
 All Heads of Departments in the College of Business and
Social Sciences
 All Coordinators of Programmes in the College
 All full time members of Academic Staff in the College
of Business and Social Sciences not below the rank of a
Lecturer II
 One (1) Representative from the College of Natural and
Applied Sciences
 Head, Examinations & Records Division or his/her
Representative
 The Librarian of his/her Representative
 College Officer, College of Business and Social Sciences
– Secretary
d.
College Review Panel (Academic) Committee
Composition




e.
Dean, College of Business and Social Sciences- (Chairman)
All Heads of Department, Heads of Units
All Professors in the College
College Officer – College of Business and Social Sciences –
(Secretary)
College Seminars Committee
Composition
 Nominee of the Dean as Chairman
 One (1) Representative from each Department
 College Officer- Business and Social Sciences(Secretary)
Economics
3
f.
College Management Committee
Composition
 Dean, College of Business and Social Sciences
 All Heads of Department in the College
 Programme Coordinators
 College Officer, Business and Social Sciences –
Secretary
STRUCTURE OF THE COLLEGE
The College has four (4) Departments as listed below:
1.
2.
3.
4.
Economics, Accounting and Finance
Sociology and Industrial Relations & Personnel Management
Political Science and International Relations
Management Studies
The following Degrees are awarded:
1. Economics, Accounting and Finance
a. B.Sc. Economics
b. B.Sc. Accounting
c. B.Sc. Banking and Finance
2. Sociology and Industrial Relations & Personnel Management
a. B.Sc. Sociology
b. B.Sc. Industrial Relations and Personnel Management
3. Political Science & International Relations
a. B.Sc. Political Science & International Relations
4. Management Studies
a. B.Sc. Marketing
b. B.Sc. Business Administration
Economics
4
COLLEGE OF BUSINESS AND SOCIAL SCIENCES
DEPARTMENT PROGRAMMES DEGREE
NOMENCLATURE
Economics,
Accounting,
B.Sc Accounting
Accounting &
Economics,
B.Sc Banking& Finance
Finance
Banking &Finance B.Sc Economics
Management
Business
B.Sc Business
Studies
Administration
Administration
Marketing
B.Sc Marketing
Political Science Political Science
B.Sc Political Science&
and International & International
International Relations
Relations
Relations
Sociology &
Sociology &
B.Sc Sociology
IRPM
IRPM
B.Sc IRPM
PHILOSOPHY AND OBJECTIVES
1.
Philosophy
The philosophy underlying the programmes of the College is to produce
graduates who are quite knowledgeable and competent to meet the
demands of the world’s business, socio – economic and political
activities.
2.
I.
II.
III.
Objectives
To produce graduates who have the ability to understand the
basic language of all the disciplines in the social and business
environment globally.
To produce graduates possessing the intellectual ability to
identify and apply the state of art in various disciplines to solve
prevailing problems in our economy.
To produce graduates who can comprehend, and proffer
solutions to the basic challenges confronting the nation.
Economics
5
IV.
To prepare the students for career prospects in Industrial
Relations, Sociology, Economics, Accounting, Finance, Political
Science, Management Studies and Marketing.
ADMISSION REQUIREMENTS
COURSE
PROGRAMME
REQUIREMENTS
UTME
UTME
SUBJECTS
Banking and
Finance
Direct Entry
i) Two “A” Level pass in
Accounting or Economics
and one other subjects
ii) NCE with passes at
merit level in relevant
Subjects
iii) ND at credit level
UTME
Five SSCE
credits including
English
Language and
Mathematics &
Economics
Maths, one
Social Science
Subject and
any other
Subject
Economics
NCE or Two (A Level)
Passes in Economics any
one of Maths, Statistics,
Geography, Physics,
Agric Sc., Accounting,
Business Management,
History & Government
Five SSCE credit
Passes in English
Language Maths,
Econs, and any
two of Arts
Social Sciences
Subjects
Economics
Maths and any
of
Government,
History, Geog,
Literature in
English
French and
CRK
OND Upper
Credit in
Economics,
Marketing Bus.
Admin or Banking
and Finance
Accounting
NCE or Two A Level
Passes in including
Economics
Five SSCE
credit passes
including English
Language
Maths, Econs.
Econs,
Statistics and
any other
Social
Sciences
subjects
Foundation
Programme of
Crawford
University for
Accounting
Business Adm./
Marketing
NCE or Two (A level)
passes including
Five SSCE
credits passes
Economics,
Maths any
Crawford accepts
NCE with Upper
Economics
SPECIAL
CONSIDERATI
ON OR
/WEAVER
REMARKS
Foundation Exams
such as
ICAN/Accounting
or ICMA
6
Economics
including English
Mathes, Econs
other from
Government,
History or Litin- English
credit in
Marketing, Bus.
Admin, or
Banking and
Finance
Sociology / IRPM
Two A level Passes
chosen from Econs,
Accounting, Business
Management
Government, Commerce
or Statistic
Five SSCE credit
passes including
English, Maths,
Econs, plus any
two subjects
listed under the
Direct Entry
Column
Mathematics,
Economics
plus one other
relevant
subjects
Diploma at Upper
Credit level in
relevant discipline
OND/HND not
admissible for
Direct Entry
Political Science
and International
Relations
Two or (A) level passes
in Government and one
other Social Sciences
subjects
Five SSCE credit
passes including
English
Language
History and at
least pass in
Mathematics
Three Art or
Social Science
subject
Crawford accepts
NCE with at least
Merit OND/HND
in relevant
subjects not lower
than lower credit,
Foundation
Programme of
Crawford
University or other
University
recognize by
Senate
ELIGIBILITY FOR ADMISSION
An applicant must have completed 12 years pre-tertiary education i.e.
someone who has finished six years of Primary School, three of Junior
Secondary School (JSS) and three in the Senior Secondary School
(SSS) in the Nigerian Educational System or to possess
equivalent/superior credentials. In addition, applicants must take the
mandatory University Matriculations Examination (UME)
Economics
7
ADMISSION REQUIREMENTS
B.Sc. ADMISSION REQUIREMENTS
1.
UME Admission: Candidates for admission into the four
year degree programme should possess a Senior Secondary
School Certificate Examination or National Examination
Council or their equivalents with at least five credit passes of
which must include English Language, Mathematics and
Economics; the other remaining two credits required for
registration are determined by the department.
2.
Direct Entry: Candidates for direct entry admission shall
possess 5 credit passes in the Senior Secondary School
Certificate or General Certificate Examination or their
equivalents of which at least 2 shall be at the Advanced level
or 4 credit passes of which at least 3 shall be at the
Advanced level provided that such passes are not counted at
both levels of the examinations. Sometimes Crawford
Foundation, National Certificate of Education (NCE) and
Diploma may be considered as A-level equivalents. B.Sc.
degree of a recognized University in a related field. OND
upper credit or HND, in relevant courses. Students with
professional qualification such as ACA, ACCA, may be
considered.
UNIVERSITY MATRICULATION EXAMINATION
1.
Candidates must satisfy the requirements as specified in
(1) above.
2.
Candidates must also have acceptable passes in
University Matriculation Examination (UME).
Economics
8
3.
UME subjects are: English Language, Mathematics,
Economics and Government.
GRADUATION REQUIREMENTS
The Programme is planned over a four-year period
consisting of eight semesters. Each semester consists of
about seventeen (17) weeks, fifteen (15) of which are
devoted to formal teaching, peri-curriculum instruction
and assessments. Each course (especially 3-unit credit
courses) includes a scheduled mandatory one (1) hour
tutorial class per week. The general requirements for
graduation include the following
(i)
The completion of a minimum of 170 credit units
including core, elective and general university education
(GST) courses. Direct entry students are required to
complete a minimum of 129 credit units;
(ii)
A minimum of 15 credit courses outside the department;
(iii)
Complete, report and defence of a research project
supervised by a Supervisor
REGISTRATION PROCEDURE
1.
Requirements for Registration
a) Photocopies of credentials
b) Birth Certificate
c) Eight (8) passport photographs
d) JAMB Notification of Results
e) University Admission letter
2.
Procedure for Course Registration
Economics
9
(i)
All students should note that Registration of courses
commence on resumption for each semester. Students
are therefore expected to register twice in a session. i. e.
at the beginning of each semester.
(ii)
After the payment of school fees students should proceed
to the Bursary with proof of bank payment for a pin code
for on-line registration.
(iii)
Students are expected to collect registration forms from
Department and then complete on consultation with the
course adviser. Thereafter, the forms are forwarded to
the Edu - Portal for proper documentation.
(iv)
Students are allowed a maximum of seven (7) weeks for
registration and an additional two (2) weeks for late
registration
(v)
Any student that fails to register within this period ceases
to be a bonafide student of Crawford University.
3. Add and Delete of Courses
Any student wishing to delete course(s) will be allowed to do
so within the nine (9) weeks of registration. Any student
wishing to add additional course(s) will be allowed to do so
within the first seven (7) weeks of registration for both first and
second semester.
Economics
10
REGULATIONS GOVERNING THE AWARD OF BACHELOR’S
DEGREE
(FULL TIME)
(A)
1.
2.
A programme of study shall be provided leading to a Bachelor’s
degree to be denoted
by the letters. B.Sc. (or such other abbreviation as Senate may
approve from time to time) which may be awarded with honours
or as a pass degree. The programme normally extends over a
period of three or four academic years, depending on the student
entry qualifications as follows:
i.
Three years for direct entry candidate with prescribed
GCE Advanced Level.
Crawford Foundations students or equivalent admitted to
the 200 level
ii.
Four years for students with WASC, GCE, Ordinary or
equivalent qualifications, admitted to the 100 level.
i.
A full-time student is one who carries not less than
the minimum load stipulated in the College
The minimum duration for graduation for a four year
programme is 8 semester and 6 semester for three year
programme; while the maximum length of time required
in the College shall not be more than 12 semester for the
four year programme and 10 semester for the three-year
programme.
ii.
iii.
The maximum load permissible per semester is 24 credit
units, whilst the minimum load is 18 credit units for fulltime studentship and 6 semesters for three year
programme, while the maximum length of time required
in the College shall not be more than 12 semester for the
four year programme and 10 semester for the three-year
programme.
Economics
11
(B)
iv.
The maximum load permissible per semester is 24 credit
units, whilst the minimum load is 18 credit units for fulltime studentship.
v.
The University Senate may permit students in
exceptional cases to carry less than the minimum load or
more than the maximum load, upon the recommendation
by the Head of Department through the Dean of the
College.
Graduation Requirements
To be eligible for the award of a B.Sc. degree, a student must
obtain a stipulated minimum total of units, for a three-year
programme or a maximum total of units for a 4 year programme
as stated in the Table below:
Programme
Economics
Accounting
Banking & Finance
Political Science & International
Relations
Sociology
Industrial Relations & Personnel
Management
Marketing
Business Administration
Minimum
108
129
126
144
Maximum
165
170
171
225
160
144
168
192
105
109
148
150
Student Academic Status
A student academic status shall be determined on the basis of his/her
performance in the Harmattan and Rain Semester Examination for each
of the 100, 200, 300 and 400 levels of the degree programme. The
following categorization of students’ status shall be used:
Economics
12
(i)
Good Standing:
To be in good standing, a student must;
 Pass a minimum of 24 units per session and,
 Have a Grade Point Average (GPA) of not less than 1.0
(ii)
Probation:
i. A student shall be placed on “PROBATION” if;
 he/she has not passed a minimum of 24 units for a
particular level and/or
 his/her GPA is less than 1.0
ii.
The period of probation shall be a maximum of two
semesters
iii.
A student on probation is allowed to register for courses
at the next higher level in addition to his/her probation
level courses provided that:
(a) The regulations in respect of student workload are
complied with; and
(b) The pre-requisite courses of the higher level courses
have been passed.
iv.
A student on probation who fails to improve on his/her
cumulative grade point average (CGPA) of 1.0 and 24
units in the subsequent semester, such as to place
him/her in good standing shall have another chance,
thereafter he/she will be advised to withdraw from the
University;
Transfer Cases
i.
Students who transfer from other Universities shall be
credited with only those courses relevant to the programme
of the University, which the candidates have already passed.
Such students shall however, be required to pass the
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13
minimum number of units, provided that these students shall
spend less than two (2) year (4 semesters in order to earn a
degree of the University.
ii.
Students who transfer from one College (Faculty) to another
within the University for any reason shall be credited with
those units passed that are within the curriculum of the
receiving College (Faculty)
COURSE ADMINISTRATION AND ASSESSMENT
(A)
Courses and Units
i.
A course unit is a series of one hour lectures or
tutorials or an equivalent combination of this type
of instruction. No course shall be less than two
units and more than six units.
ii.
There shall be four levels of courses for the 4 year degree programme and 3 levels for the 3year
100 – 199 – (100 level courses)
200 – 299 – (200 level courses)
300 – 399 – (300 level courses)
400 – 499 – (400 level courses)
Course numbers shall be prefixed by a three character course
code which designated the academic discipline.
(B)
Course Status
The following standard terminologies are used in all
units of the Departments to indicate the status of each
course.
i.
Compulsory: courses specified by a department
which students must take and pass.
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14
(C)
ii.
Required Course: A course which a student
must register for and pass at 40% before a degree
can be awarded but which is not counted towards
degree classification e.g. General Studies,
Library use.
iii.
Elective: courses specified by a department from
which a student must take in order to make up the
required additional units for the award of the
degree
iv.
Pre-requisite: A course whose knowledge is
essential prior to taking another specified
courses. A pre-requisite requirement is fulfilled
by completing and passing the pre-requisite
courses which may also be waived for suitably
qualified candidates by the College Board on the
recommendation of the Department
v.
Audited course: A course which the student
attends but in which he/she is not examined.
Course Assessment
i.
(D)
All courses shall normally be evaluated by
examinations and Continuous Assessment shall
be done through essay and tests.
ii.
Scores from Continuous Assessment shall
constitute 30% of the final marks for courses,
which are primarily theoretical.
Examinations
i.
Each course shall normally be completed and
examined at the end of the Semester in which it
offered.
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15
ii.
(E)
A written examination shall last a maximum of
three hours for three units of courses and
minimum of two hours for two units of course.
Conduct during Examination
i.
Candidates must be seated at least 15 minutes
before the commencement of each examination.
Thereafter, no candidates will be allowed into the
examination room except at the discretion of the
Chief Invigilator. Candidate will not normally be
allowed to leave the examination room. Outside
these periods candidates may leave the room
temporarily only if accompanied by an attendant.
ii.
Candidates shall not be allowed to take into the
examination room or have in their possession
during the examination, any book or paper,
mobile phone, printed or written document
(whether relevant to the examination or not)
iii.
Any proven attempt made by candidate directly
or indirectly to influence the process of
examination or any part therefore with a view to
obtaining undue advantage shall lead to the
candidate’s disqualification from the whole
examination.
iv.
Silence shall be maintained throughout the period
of examination and communication among the
candidates will not be allowed;
v.
Candidates shall comply with all instructions set
out in the examination answer booklet or other
examinations materials. They shall also comply
Economics
16
with all instructions given to them by the
invigilators
vi.
vii.
viii.
S/N
(i)
(ii)
(iii)
(iv)
(v)
Whenever there is an alleged examination
malpractice, the candidates involved shall be
required to make a signed statement immediately.
Failure to comply shall constitute a serious
offence and lead to disqualification from the
examination and any other disciplinary action
deemed appropriate.
Candidates must present themselves to all
University examinations for which they have
been duly registered. Candidates who fail to do
so for reasons other than illness or accident
attested to by the Chief Medical Officer or the
University shall be deemed to have scored Zero
in that examination.
Examination offences are considered as breach of
the matriculation oath and it may attract the
following sanctions:
Offence
Punishment
(maximum)
Unless
otherwise stated
Non-display of ID card
Suspension
Noise making during an examination Suspension
Refusal to submit oneself for search Suspension
by an invigilator
Use of scrap papers with written Suspension
notes in Examination hall
Illegal possession of the University Suspension
Answer sheets (Whether used or
unused)
Economics
17
(vi)
(vii)
(viii)
(ix)
(x)
Mutilation or removal of any paper
or answer script supplied
Failure to submit answer script to
invigilator after an examination
Oral
communication
between
candidates during an examination
Impersonation
Other examination related offences
(F)
Suspension
Suspension
Suspension
Suspension
To be determined based
on the gravity of the
offence committed.
Pass-mark
The minimum pass-mark in any course shall be 40%,
(for Prerequisite purpose, 35% is the specified
minimum).
(G)
Grading System: Grading of courses shall be done
by a combination of Percentage marks and letter
grades translated into graduated system of grade point
equivalent. For the purpose of determining a student’s standing.
At the end of every session, and for the final degree
classification, Grade Point Average (GPA) system shall be
calculated, that is:
GPA = TCP/TNU
Where
TCP (GP x Unit)
TNU (Total Number of Units courses taken),
TCP (Total Cumulative Point)
Each course unit shall be graded out of a maximum of 100 marks and
assigned appropriate letter grade point equivalent as in the following
table:
Economics
18
MARKS
LETTER
GRADE
GRADE
POINT
70 AND
ABOVE
A
5
60 – 69
B
4
50 – 59
C
3
45 – 49
D
2
40 – 44
E
1
39 – 0
F
0
(H)
Presentation of Results
Result from the Department shall be presented to and
considered by the College Board of Examiners at the end
of each semester. The standard format approved by
Senate shall be used. The approved results shall be
forwarded through the Head of Department and Dean to
the Exams & Records Division for processing.
(I)
Classification of Degree
The determination of the class of degree shall be based
on the Cumulative Grade Point Average at the 100, 200,
300 and 400 levels, the Cumulative Grade Point Average
(CGPA) shall be determined at the end of each semester
taking into consideration, all the courses so offered, and
approximated to 2 decimal places.
The Cumulative Grade Point Average (CGPA) shall
be used for the determination of the class of degree
according to the following ranges:
Economics
19
CGPA
4.50 – 5.00
3.50 – 4.49
2.40 – 3.49
1.50 – 2.39
1.0 – 1.49
CLASS OF DEGREE
First Class Honours
Second Class Upper
Second Class Lower
Third Class
Pass
COUNSELLING
Students counseling is an important activity of the Departments,
which is aimed at ensuring academic success for all the students.
Students are normally attached to a lecturer who is regarded as a
senior partner for the success of the students. The lecturer is
referred to as the Level Coordinator/Adviser. He/she is
responsible to the entire students for that level in each
department.
INFORMATION MEDIUM
Information meant for students are normally pasted on the notice
boards. It is the responsibility of students to go to these boards
regularly to ensure that they keep abreast of the happenings in
the Department and College as regards their programme in the
University. The Department and College would therefore not be
responsible for negligence on the part of the students for failing
to comply with any directives of the departments or its units
given through the medium of the notice boards.
Students Colloquium}
Parents Forum
}
The University Management holds a ‘Students Colloquium’ at
least once every semester for both students and lecturers. This is
Economics
20
an interactive session that touches on all aspects of student life;
that is welfare, student behavior, dressing and attendance at
church services and other related activities. In addition, the
Parent Forum holds regular meetings at least twice in a session
to discuss matters related to the welfare of their wards the good
governance, and progress of the University at large.
DISCIPLINE
The College does not take kindly to acts of indiscipline on the
part of students. Degrees are awarded for deserving student by
the Departments having been found worthy in character and in
learning
GENERAL STUDIES PROGRAMME
All students of the University are required to pass the General
Studies Programme courses (GST) as a condition for graduation.
The General Studies Courses are University based. These
include use of English/Library and Information Sources;
Introduction to Logic and Philosophy, Music Appreciation.
These (GST) courses are compulsory for all students
irrespective of their level of admission. This also applies to
students transferring from other Universities.
ENTREPRENEURIAL DEVELOPMENT STUDIES
Based on the Federal Government directives to all Nigerian
Universities, the University has introduced two courses on
Entrepreneurship. These courses pertain to both theoretical and
practical aspects of Entrepreneurship and are taken by students
at the 200 Level and 300 Level in the College.
Economics
21
ECONOMICS
Economics
22
HOD’S REMARKS
This is the 2nd edition of the Students’ Handbook of the Department of
Economics, Accounting and Finance. The department is based in the
College of Business and Social Sciences of Crawford University, Igbesa
Ogun State in Southwest Nigeria.
This edition covers a period of four years, 2011-2015. Since the last
edition, additional programmes and courses have been approved by
Senate and these have been incorporated in this edition. Previous
programmes have also been reviewed in line with current academic
vision and developmental goals of the University. We must note that
the University Senate, however, reserves the right to make changes to
any part of this edition at any time it deems fit.
This book has carefully presented details on the academic programmes,
the courses available, contents and credit loads. It provides information
on admission requirements, regulations governing awards of Degrees
and regulations on conduct of examinations.
Lecturers and students will find the prospectus very useful from time to
time for guidance. Students are particularly urged to relate well with
their level advisors, supervisors, departmental Coordinators, and Heads
of Departments for clarification on any aspect of the book that may not
be clear to them.
Finally, I wish to express my appreciation to all those who have
contributed to the success of the preparations of this 2nd edition. I am
particularly grateful to the Dean, Programme Coordinators, Level
Advisors and the entire Academic and Non-Academic staff of the
Department. Any correspondence on this book should be addressed to
“The Head, Department of Economics, Accounting and
Banking/Finance, College of Business and Social Sciences, Crawford
University, P.M.B. 2001, Igbesa, Ogun State, Nigeria.”
MACAVER, Okerhe Joseph (Ph.D.)
(Head of Department)
Economics
23
ACADEMIC STAFF
S/N
1.
FULL NAME
QUALIFICATION S
SPECIALISATION
DESIGNATION
1Dr. Macaver,
. Okerhe Joseph
B.Sc., M.Sc., Ph.D.
Project Evaluation/
Managerial
Economics
Reader/Head of
Department
(Full-time Staff)
2.
Prof. Oludimu,
Olufemi
Ladipo
B.Sc., M.Sc., Ph.D.
Monetary
Economics/
Financial
Economics
Professor (Sabbatical
Staff)
3.
Dr. Akanni,
K.A.
B .Sc., M.Sc., Ph.D.
Monetary
Economics
International
Finance
Reader
Macroeconomics/
Production
Economics
Senior Lecturer
International
Trade/
Senior Lecturer
4.
5.
Dr. Adesoye,
Adesola Bolaji
Dr. Didia,
Prince
B .Sc., M.Sc., Ph.D.
B.Sc., M.Sc., Ph.D.
(Associate Staff)
(Associate Staff)
(Sabbatical Staff)
Public Finance
6.
Dr. Enilolobo,
Sunday
B.Sc., M.Sc., Ph.D.
Econometrics, and
Production
Economics
Senior Lecturer
(Sabbatical)
7.
Dr.
Amaghionyeod
iwe, Lloyd
Ahamefule
B.Sc., M.Sc. Ph.D.
Macroeconomics,
International
Finance
Senior Lecturer
(Associate Staff)
8.
Dr. Obiakor,
Roland
Tochukwu
B.Sc., M.Sc., Ph.D.
Microeconomics,
and International
Trade
Senior Lecturer
Dr. Oyende,
Adeleke
Adedapo
B.Sc., M.Sc., Ph.D.
Energy/Petroleum
Economics
Lecturer I
9.
(Associate Staff)
(Full-time Staff)
Economics
24
10.
11.
12.
13.
Dr. Amire,
Comfort
Moradeke.
B.Sc., M.Sc., Ph.D.
Dr.
Nsikakabasi,
David Joshua
B.Sc., M.Sc., Ph.D.
Dr. Ogunbona,
Oluwaseun
B.Sc., M.Sc.
Mr. Ajayi,
Iyiola Alade
Welfare
Economics
Lecturer I
(Full-time Staff)
B.Sc., M.Sc.
Macroeconomics
Lecturer II
Microeconomics
(Full-time Staff)
Public Finance
Lecturer I
Economic
Planning
(Full-time Staff)
Labour Economics
Urban Economics
Lecturer II
(Full-time Staff)
Economics
25
NON- ACADEMIC STAFF
S/N
1
FULL NAME
Mrs. Imafidob, Temitope Ruth
STATUS
Administrative Officer
2
Miss Owolabi, Florence Adeseeke
Secretary/Typist
3
Mrs. Sonuga, Ronke
Office Attendant/Cleaner
Economics
26
10
PHILOSOPHY, MISSION AND OBJECTIVES
(a)
PHILOSOPHY OF THE ECONOMICS PROGRAMME
The philosophy and mission statement underlying the work of the
department is to produce high quality graduates equipped with critical
skills and abilities to abstract knowledge, using simplified economic
models; to identify the essence of a problem; analyse and reason – both
deductively and inductively; marshal evidence, assimilate structure and
analyse qualitative and quantitative data; communicate concisely the
result to a wide audience, including those with no training in
economics; think critically about the limits of one’s analysis in a
broader socio-economic context; and draw economic policy inferences
and to recognize the potential constraints in their implementation. The
department seeks to produce graduates with enthusiasm, capable of
making significant contributions to the economy and the academia in
Nigeria and globally. To achieve this, the programme is broad based;
blending general economic theories with core financial courses to give
graduating students a working knowledge of all aspects of economic
analysis with emphasis on Nigerian economy to ensure highest
competence of graduates in professional practice. The department has
seasoned academic and technical staff. Future projects include
establishment of a departmental library and mounting of postgraduate
studies, particularly M.Sc. and Ph.D. degree programmes.
Economics
27
(b)
MISSION STATEMENT OF THE PROGRAMME
The Economics Programme was borne out of Crawford University’s
passionate desire to positively impact both the academic and
professional vocations of economics, banking, finance and related fields
of endeavours in Nigeria and beyond. The Programme is designed to
contribute decisively to the quantitative and qualitative manpower
needs of local and global industries, public, private and non-profit
organizations through teaching, research and development (R&D) and
other capacity building endeavours. The ultimate goal is to produce
well-rounded graduates, who will be academically sound, creative, with
good morals and the fear of God, which is in consonance with the motto
of the University, Viz: ‘Knowledge with Godliness’.
(c)
OBJECTIVES OF THE DEGREE PROGRAMME
The Programme offers courses leading to the award of the Bachelor of
Science (B.Sc. Hons) degree in Economics. The objective of the B.Sc.
degree Programme is to prepare students for productive careers in
business organizations and enterprises, (including blue-chip and
multinational organizations), public and private sector economic policy
making and implementation as well as academic and research
enterprises/institutions. The specific objectives of the Programme are as
follows:
Economics
28
1. Develop and improve students’ understanding of social and
economic problems at various stages of development and the
Nigerian society in particular;
2. Develop students’ critical judgment and ability to observe,
analyze and synthesize socio-economic data for problem
solving, which will enable them make meaningful contribution
to national goals and global development;
3. Provide appropriate environment that enable students to raise
their
level
of
creativity and
promote
spirit
of
self-
reliance/entrepreneurship among graduates;
4. Create an atmosphere for desirable behavioural change that
would help students develop values that are in consonance with
the national objectives such as hard work, probity, commitment,
patriotism, accountability and discipline;
5. Provide training and stimulate students intellectually through the
study of economics and to lead them to appreciate its application
to a range of problems and its relevance in a variety of contexts;
6. Provide sound knowledge about the workings of an economy
and to develop the relevant skills for the constructive use of that
knowledge in a range of settings;
Economics
29
7. Develop in students the ability to apply the analytical tools,
knowledge and skills acquired to the solution of societies’
economic problems;
8. Equip students with appropriate tools of analysis to tackle issues
and problems of economic policy making and implementation,
9. Develop in students, through the study of economics, a range of
transferrable skills and entrepreneurship that will be of value in
employment and self-employment;
10. Provide students with analytical skills in economic modelling
and the ability to develop simplified frameworks for studying
the real world;
11. Provide students with critical knowledge and skills for further
studies in economics, related areas or in interdisciplinary areas
that involve economics; and
12. Generate in students an appreciation of the economic
dimensions of wider social and political issues.
With the above background, graduates of the department will be able to
fit into various fields of human endeavours both in the private and
public sectors of the economy and globally. In particular graduates of
Economics
30
the department could serve as policy analysts, bankers, investment
executives, business executives, lecturers, and entrepreneurs.
11.
ADMISSION REQUIREMENTS
B.Sc. ADMISSION REQUIREMENTS
3.
UME Admission: Candidates for admission into the four
year degree programme should possess a Senior Secondary
School Certificate Examination or National Examination
Council or their equivalents with at least five credit passes of
which must include English Language, Mathematics and
Economics; the remaining two credits required for
registration are determined by the department.
4.
Direct Entry: Candidates for direct entry admission shall
possess 5 credit passes in the Senior Secondary School
Certificate or General Certificate Examination or their
equivalents of which at least 2 shall be at the Advanced level
or 4 credit passes of which at least 3 shall be at the
Advanced level provided that such passes are not counted at
both levels of the examinations. Sometimes Crawford
Foundation, National Certificate of Education (NCE) and
Diploma may be considered as A-level equivalents.
Economics
31
UNIVERSITY MATRICULATION EXAMINATION
4.
5.
6.
Candidates must satisfy the requirements as specified in
(1) above.
Candidates must also have acceptable passes in
University Matriculation Examination (UME).
UME subjects are: English Language, Mathematics,
Economics and Government.
GRADUATION REQUIREMENTS
The Programme is planned over a four-year period
consisting of eight semesters. Each semester consists of
about seventeen (17) weeks, fifteen (15) of which are
devoted to formal teaching, peri-curriculum instruction
and assessments. Each course (especially 3-unit credit
courses) includes a scheduled mandatory one (1) hour
tutorial class per week. The general requirements for
graduation include the following:
(i)
The completion of a minimum of 149 credit units
including core, elective and general university education
(GST) courses. Direct entry students are required to
complete a minimum of 108 credit units;
(ii)
A minimum of 15 credit courses outside the department;
(iii)
Complete, report and defence of a research project
supervised by a Supervisor.
Economics
32
12.
COURSE STRUCTURE
100 Level
Semester &
Prerequisite
Course
Grouping
Course Code
Course Title
L-T-P in
Hours
Credit Units
1st
Compulsor
y Courses
Elective
Courses
(one
elective)
2n
d
ECN 101
Principles of Economics I
-
30–15–0
3
-
ECN 102
Principles of Economics II
-
30–15–0
-
3
ECN 103
Introduction to Statistics I
-
20–10–0
2
-
ECN 104
Introduction to Statistics II
-
20–10–0
-
2
ACC 101
Intro to Financial
Accounting I
-
30–15–0
3
-
ACC 102
Intro to Financial
Accounting II
-
30–15–0
-
3
BUS 101
Principles of Management I
-
20–10–0
2
-
BUS 102
Principles of Management II
-
20–10–0
-
2
FIN
Introduction to Finance
-
30–15–0
-
2
SOC 101
Introduction to Sociology I
-
20–10–0
2
-
SOC 102
Introduction to Sociology II
-
20–10–0
-
2
POL 101
Introduction to Political
Science
-
20–10–0
2
-
POL 102
Introduction to African
Politics
-
20–10–0
-
2
102
Economics
33
General
University
Courses
GST 101
Use of English/Library Info
I
-
20–10–0
2
-
GST 102
Use of English/Library Info
I
-
20–10–0
-
2
GST 103
Music Appreciation I
-
10–00–0
1
-
GST 104
Music Appreciation II
-
10–10–0
-
1
PHL 101
Intro to Logic &
Philosophy
-
20–10–0
2
-
PHL 102
History & Philosophy of
Science
-
20–10–0
-
2
GST 106
Nigeria People and Culture
-
20–10–0
-
2
CSC 101
Intro to General Computing
-
20–10–0
3
-
20
21
TOTAL (41 Credit Units)
L = Lecture, P = Practical, T = Tutorial
200 Level
Semester &
Course
Grouping
Course Code
Course Title
Prerequi
site(s)
L-T-P in
Hours
Credit Units
1st
Compulsor
y Courses
2nd
ECN 201
Principles of
Microeconomics 1
ECN 101
20-10-0
2
-
ECN 202
Principles of
Microeconomics II
-
20-10-0
-
2
ECN 203
Principles of
Macroeconomics 1
ECN 102
20-10-0
2
-
ECN 204
Principles of
Macroeconomics II
-
20-10-0
-
2
ECN 205
Hist & Struct of Nig
Economy 1
-
20-10-0
2
-
Economics
34
-
20-10-0
-
2
Statistics for Bus & Soc
Sciences 1
ECN 104
30-15-0
3
-
BSS 212
Statistics for Bus & Soc
Sciences II
-
30-15-0
-
3
ECN 208
Labour Economics
-
20-10-0
-
2
ECN 210
History of Economic
Thought
-
20-10-0
-
2
ECN 211
Mathematics for
Economists 1
-
20-10-0
2
-
ECN 213
Monetary Economics
-
20-10-0
2
-
ECN 212
Applied Economics
-
20-10-0
-
2
Elective
Courses
ECN 214
Urban and Regional
Economics
-
20-10-0
-
2
(one
elective)
ACC 201
Financial Accounting
ACC101,
102
30-15-0
3
-
IRP 201
Introduction to Industrial
Relations
-
20-10-0
3
-
SOC 210
Structure of the Nigerian
Society
-
20-10-0
-
2
BUS 204
Business Communication
-
20-10-0
-
2
FIN 201
Elements of Banking &
Finance 1
-
30-15-0
3
-
BUS 208
Enterpreneurial Dev
Studies
-
20-10-0
-
2
GST 207
Music Appreciation 111
GST 104
-
1
-
GST 208
Music Appreciation 1V
-
-
-
1
GST 209
Peace and Conflict Studies
2
-
General
University
Courses
ECN 206
Hist & Struct of Nig
Economy II
BSS 211
Economics
35
TOTAL (36 Credit Units)
18
18
L = Lecture, P = Practical, T = Tutorial
300 Level
Semester &
Course
Groupin
g
Compul
sory
Courses
Course Code
Prerequisit
e
Course Title
L-T-P
in Hours
Credit Units
1st
2nd
ECN 301
Intermediate
Microeconomics 1
ECN 201,
202
20-10-0
2
-
ECN 302
Intermediate
Microeconomics II
ECN
201,202
20-10-0
-
2
ECN 303
Intermediate
Macroeconomics 1
ECN
203,204
20-10-0
2
-
ECN 304
Intermediate
Macroeconomics 1
ECN
203,204
20-10-0
-
2
ECN 306
Econometrics for Data
Analysis
-
30-15-0
-
3
ECN 308
Development Economics
-
30-15-0
-
3
ECN 309
International Trade
Theory
-
20-10-0
3
-
ECN 310
Operations Research
-
20-10-0
-
2
ECN 311
Mathematics for
Economists II
ECN 211
20-10-0
2
-
ECN 315
Public Finance
-
20-10-0
2
-
ECN 316
Research Methodology
-
30-15-0
-
3
ECN 317
Applied Statistics
BSS 212
30-15-0
3
-
Economics
36
BUS 331
Enterpreneurial Dev
Studies II
ECN 312
International Finance
Elective
Courses
ECN 313
Applied Monetary
Economics
(one
elective)
ECN 318
BUS 208
20-10-0
2
-
30-15-0
-
3
-
20-10-0
2
-
Political Economy
-
30-15-0
-
3
ECN 319
Industrial Economics
-
20-10-0
2
-
ECN 320
Financial Institutions
-
30-15-0
-
3
18
18
TOTAL (36 Credit Units)
L = Lecture, P = Practical, T = Tutorial
400 Level
Semester &
Course
Grouping
Compulsory
Courses
Course
Code
Course Title
Prereq
uisite
L-T-P in
Hours
Credit Units
1st
2nd
ECN 401
Advanced Microeconomics
ECN
302
30-15-0
3
-
ECN 402
Advanced Macroeconomics
ECN
304
30-15-0
-
3
ECN 403
Project Evaluation 1
-
30-15-0
3
-
ECN 404
Project Evaluation II
-
30-15-0
-
3
ECN 406
Economic Planning
-
30-15-0
-
3
ECN 407
Economics of Production
-
30-15-0
3
-
ECN 409
Taxation & Fiscal Policy
-
30-15-0
3
-
Economics
37
Elective
Courses
ECN 411
Managerial Economics
ECN
212
30-15-0
3
-
ECN 499
Research Project(Long Essay)
-
30-20-10
-
6
ECN 408
Agricultural Economics
-
30-15-0
-
3
ECN 410
Petroleum Economics
-
30-15-0
-
3
ECN 413
Advanced Mathematical
Economics
-
30-15-0
3
-
ECN 412
Advanced Econometrics
-
30-15-0
-
3
ECN 415
Advanced Operations
Research
-
30-15-0
3
-
ECN 414
Environmental Economics
-
30-15-0
-
3
ECN 417
Problems & Policies of
Development
-
30-15-0
3
-
ECN 418
Economics of Agricultural
Development
-
30-15-0
-
3
18
18
(1 elective)
TOTAL (36 Credit Units)
L = Lecture, P = Practical, T = Tutorial
Economics
38
COURSE CONTENTS
100 LEVEL COURSES
ECN 101:
Principles of Economics I
3 units
An introduction to the various issues in economics, The nature,
definition and scope of economics, the methodology of economics, the
economic framework/approach, positive and normative economics,
Economic systems, major areas of specialization in economics,
stressing historical development of ideas, elementary principles of
micro-economics, Demand, supply and equilibrium, Elasticity of supply
and demand; Simple applications of elasticity to production and
revenue; elementary price theory and its application.
ECN 102:
Principles of Economics II
3 units
Elementary principles of macroeconomics; scope and goals/objectives
of macroeconomics. Economic agents in macroeconomic analysis.
Macroeconomics policy, fiscal and monetary. Money and banking.
Commercial and development banks. Elementary models of income and
employment. Unemployment issues in developing countries.
Introductory concepts in international trade theory. Taxation and public
expenditure. Introduction to budgeting and national development
planning.
Economics
39
ECN 103:
Introduction to Statistics I
2 units
Definition, scope and importance of statistics. Basic concepts in
statistics. Sources and nature of published economic and related
statistical data in Nigeria; their uses and limitations. Data measurement
and levels of measurements. Types of data-qualitative and quantitative
data; discrete and continuous data. Concept of variable. Methods of data
collection. Data management and presentation. Data analysis and
interpretation, Statistical decision making. Descriptive statistics measures of central tendency and measures of dispersion. Introduction
to hypothesis and inferential statistics.
ECN 104:
Introduction to Statistics II
2 units
Population and sample. Sampling methods and techniques.
Uses/importance of sampling in research. Probability and probability
distributions: binomial, Poisson and normal distributions, their
characteristics and comparisons. Introduction to inferential statistical
tools for scientific data analysis: chi-square, ANOVA, t-test, simple
correlation and linear regression. Interpretation of results and drawing
of conclusions/decision-making. Index numbers, Price relative, Simple
aggregate, Simple relative. Weighted aggregate price index: Laspeyes’
index, Paasches’ index
Economics
40
200 LEVEL COURSES
ECN 201:
Principles of Microeconomics I
2 units
Introduction to microeconomics theory and analysis. Problems of scarce
resources. Allocation of resources in product and factor markets.
Comparative Economic Systems.; Supply and demand theory,
equilibrium analysis. Elasticity theory, Static and Comparative analysis
and Cobweb theory.
ECN 202: Principles of Microeconomics II
2 units
Introductory dynamics. Theory of consumer behaviour: Cardinal Utility
Approach. Theory of Production. Theory of cost of production. Internal
and External economies and diseconomies. Market Structures; Perfect
competition, Monopoly, and Monopolistic Competition. Pricing of
factors of production. Price theory application; minimum and maximum
price legislation
ECN 203: Principles of Macroeconomics I
2 units
Differences in micro-macroeconomics. Scope and methodology of
National Income Accounting. Macroeconomic aggregates of the
Classical and Keynesian systems. The Monetarist system. Domestic
economic stabilization. International Trade and international monetary
system.
ECN 204: Principles of Macroeconomics II
2 units
National Income Measurement and determination. Macroeconomic
theory of Consumptions, Saving and Investment. Money Supply and
Economics
41
Money Demand. Monetary and Fiscal policies. Inflation-concept,
causes, impact and control.
ECN 205: History and Structure of the Nigerian Economy I
2 units
Analysis of development in pre- and post-colonial periods with regards
to development of economic and social organization. Role of
agriculture, industry, money and banking and international trade in the
context of Nigeria’s economic development. Growth of income,
employment, wages and prices. Public institutions development.
Different economic systems. Mining and petroleum development in
Nigeria. Food and Manpower in Nigeria.
ECN 206: History and Structure of the Nigeria Economy II
2units
National income and expenditure. Monetary and fiscal policies in
Nigeria. Trade and transport systems. Primary, Secondary and Tertiary
sectors, relationship between the sectors and contribution of sectors of
the Nigerian economy to national output and development. The Role of
national institutions in economic development. Unemployment and
employment in Nigeria. Capital formation, technical progress, foreign
capital and aid. Industrial policies. Analysis of structure of other
countries. Economic development and social change.
ECN 208: Labour Economics
2 units
Definition of Labour. Features of Nigerian Labour market. Nature of
Labour problems in developing countries. Determination of sizes and
Composition of Labour forces. Supply and demand for labour. Labour
market theories. Theories of wage determination and wage differentials.
Theories of unemployment. Trade unionism. Job search. Labour
Economics
42
mobility, hiring policy. Economics of wage determination. Wages
administration and policy. Manpower planning and development.
Investment in human capital. Human capital accumulation. Elements of
industrial psychology. Industrial relations in theory and practice in
Nigeria.
ECN 210:
History of Economic Thought
2 units
Comparative survey and assessment of development in economic
thought. Nature and importance of economic thought. Ideas of the early
Christian fathers. Mercantilism. The Physiocrats. Classical economics.
Reactions against Classicism: Socialism and Economic Nationalism.
Islamic ideas on economic activity Evolution of Marxist School of
economic thought Marginalism: The Austrian school of thought.
Mathematical economics. Reactions against orthodoxy: the German
historical school and Institutionalism. Welfare/Keynesian economics.
Exploration of contributions from the third world countries; Future
prospects.
ECN 211: Mathematics for Economists I
3 units
The derivatives of trigonometric functions: concavity and convexity,
Relative extrema, Sequences and series:terminologies, arithmetic and
geometric progression. Maclaurin expansion and Taylor’s theorem.
Partial and total derivatives. Differential and difference equations.
Applications of partial derivatives. Maximal and minimal. Lagrangier
multiplier, Significance of Lagrange Multiplier. Matrix algebra: matrix
operations-cummutative, associative and distributive laws. matrix
inversion and cramer rule, Simultaneous linear equation models. Inputoutput analysis, First Differential Equations, First Order Differential
and Difference Equation, Simultaneous Differential and Difference
Equation.
Economics
43
ECN 213: Monetary Economics
2 units
Definition, origin, kinds, and functions of money. Theories of Demand
and Supply of Money. Expansion and contraction of money by banks.
Theories of interest rate. Inflation as a monetary phenomenon. Recent
developments in monetary thought. Monetary policy and Fiscal policy.
ECN 214: Urban and Regional Economics
2 units
Applications of macroeconomics to urban economy. Applied location
theory. Theories relating to socio-economic development and change at
three major scale viz: international, regional and intra-urban problems
and basic needs housing, employment, environmental quality, poverty
and provision of urban services. Problems and roles of the state in urban
and regional development.
Economics
44
300 LEVEL COURSES
ECN 301:
Intermediate Microeconomics I
2units
Mathematical treatment of theory of consumer behaviour; the cardinal
utility approach/marginal utility approach, consumer income/budget
constraints, equilibrium of the consumer and optimisation technique,
computation of consumer surplus. Application of Linear programming
model in solving microeconomics problems; constrained optimisation
using graphical and simplex method, mathematical approach to dual
problem and shadow price determination. Price and output
determination under perfect competition, monopoly, oligopoly and
monopolistic competition. Firm optimisation technique for pure
monopolist, discriminating monopolist and multi-plant monopolist.
Taxation and monopolist optimality. Mathematical approach to pricing
and production in firms in perfectly competitive industry and firms in
monopolistic competitive industry.
ECN 302:
Intermediate Microeconomics II
2units
Theory of consumer behaviour; the ordinal utility approach/indifference
curve approach, shapes and characteristics of indifference curve and
budget line, marginal rate of commodity substitution (MRCS). Shift in
budget line, equilibrium of the consumer and optimisation technique,
impact of price or income changes on consumer equilibrium, income
consumption curve and price consumption curve. Engels curves.
Substitution and income effect of price change of normal, inferior and
Giffen good, compensated and uncompensated demand curve. Revealed
preference theory. Review of price in perfect and imperfect
competition. Oligopoly models, collusive and non-collusive oligopoly,
Economics
45
mathematical treatment of cournot, stackelberg, Bertrand, chamberlin,
kinky, edgeworth, cartel and price leadership models.
ECN 303:
Intermediate Macroeconomics I
2units
Advance treatment of theory of consumption investment and savings.
Concept of national income, Demand and supply of money,
Introduction to macro-rational expectation proposition and the
Ricardian Equivalence hypothesis, introduction to IS-LM model.
ECN 304:
Intermediate Macroeconomics II
2units
Problems, Policy and implication of Unemployment and inflation in a
less developed economy, effectiveness of monetary and fiscal policy in
a less developed country, General Equilibrium in the product and
money market, Growth models and macro-economics policy.
ECN 306:
Econometrics for Data Analysis
3 units
Definition and scope of econometrics and econometrics research. Stages
of econometric research; Nature and sources of data for economic
analysis. Methodology of econometric. Single equation regression
model. Regression versus Correlation. Two variable regression analysis.
Assumption of Classical Regression Model. The method of ordinary
least squares (OLS). Properties of least Square estimators (BLUE).
Derivation of least squares estimates. Coefficient of determination. The
Gauss-Markov Theorem. Matrix approach to OLS. Classical Normal
Linear Regression Model (CNLRM). Properties of OLS under
Normality assumption. Hypothesis testing; tests of significance, T-test,
F-test, Chi-Square test. Regression analysis and Analysis of Variance.
Economics
46
Multiple Regression Analysis; estimation, R2 and Adjusted R2. Matrix
approach to multiple regression model. Hypothesis testing in multiple
regression model. Relaxing the assumption of the classical model;
detection and correction of Multicollinearity, Autocorrelation and
Heteroscedasticity problem.
ECN 308:
Development Economics
3units
Definition and distinction between Economics growth and concepts of
development. Measure of development, Structure Development and
underdevelopment. Theories of Economics growth and development.
Poverty, inequality and unemployment. The Classical and neo-classical
growth theories, Keynesian growth models (e.g. Kardol and Mirrless
model), and international dependence model. Strategies of economics
development, Optimal industrial development strategies and synthesis
of major factors in modern economics development. Technology and
Economic Development.
ECN 309:
International Trade Theory
3units
Overview of the nature and scope of international trade theory; concepts
and policies; Absolute and comparative advantage. Reasons for and
gains of international trade; Trade theory 1: Adam Smith’s absolute
advantage theory of international trade; Trade theory II: Ricardo’s
comparative cost theory of international trade; Trade theory III:
Heckscher-Ohlin’s factor endowment theory of trade; Trade theory IV:
Raymond Vernon’s product life cycle theory of trade; Trade theory V:
Human capital and different climate theories of trade; Trade theory VI:
New trade model and gravity theories of international trade; Terms of
trade, export-import indexes, favourable/unfavourable terms of trade;
Economics
47
Commercial policy: Free trade, protectionism, and strategic trade
policies; Economic effects of trade protectionism: Analysis of tariffs,
quotas, VERs; Economic integration between countries using
international trade theories
ECN 310:
Operations Research
2 units
Origin, role and methodology of operations research. Introduction to
operations research; model construction, problem formulation, solution
by graphical method, minimising and maximising problem, primal and
dual problem, shadow pricing. Solution by simplex method; minimising
and maximising problem. Approach to mixed limitation problem.
Sensitivity analysis. Solution by dual method. Transportation problem;
methods of determining initial allocation, North-West Corner rule,
Cheapest Rule method and Vogel’s Approximation. Optimisation
technique. Degeneracy and solution to degeneracy. Assignment
problem; minimising and maximising problem. Replacement Theory;
items that fail suddenly, individual/en-masse replacement. Equipment
that wears gradually.
ECN 311:
Mathematics for Economists II
2units
Advance treatment of Partial and total differentiation and Derivation
of trigonometric functions, Integra Calculus; Indefinite integralintegration, rules of integration,initial condition and boundary
conditions, and Economic Applications. The definite
integralfundamental theorem of calculus, area between curves, consumers
and producers surplus, definite integral and probability. Linear
programming: optimization of problem, and mathematical
programming, constraint optimisations and economic application using
graphical and simplex method. Calculus of Multivariable function in
Economics
48
Economics: income and cross price elasticities, optimization of cobbdouglas production functions, returns to scale,and constrained
optimization with lagrange multiplier.
ECN 312:
International Finance and Trade Policy
3units
Balance of payment, concept and definition, Measurement, Adjustment
Policies, Nigeria experience. Balance of Trade, terms of trade, import
substitution versus export promotion. Commercial policies-tariff &
tariff barriers. The Foreign Exchange; definition, types, market and
Nigerian experience. International Monetary System; IMF, capital
movement, and transfer problem
ECN 313:
Applied Monetary Economics
2units
The structure and functions of the financial system. Demand and supply
of money and other financial assets. Interest rate determination,
Monetary policies instruments, goals and relative effectiveness. The
Nigerian money market, instrument, prospect and problems. Post
Keynesians development in Monetary theory. Monetary equilibrium;
LM curve IS-LM analysis.
ECN 314:
Public Sector Economics
2units
General theoretical framework of public policy. The concept of the
public sector. Pricing, investment and financing of public sector
enterprises. Role and determinants of the size of public sector.
Relationship between the size of public sector economic development.
Analysis of selected public policies in Nigeria: monetary, exchange
Economics
49
rate, public debt, developmental, industrial and other policies. Effects of
deregulation on public sector.
ECN 315:
Public Finance
2units
Public sector projects and rationale for government intervention in the
economy; Revenue mobilization, Sources of public revenues in Nigeria;
Revenue allocation: Sources of public expenditures in Nigeria; Basic
model for estimating impact of public expenditure on national
economy; Basic model for estimating impact of taxation on the national
economy; Taxation: Functions, types and systems; Tax evasion versus
tax avoidance; Fiscal federalism and revenue allocation challenges in
Nigeria; Government budgets: Functions, types of budgets and their
impacts; Public debt in Nigeria: deadweight versus productive public
debt; Public debt benefits and burdens on the Nigerian economy; Public
debt management: Domestic versus external debt management in
Nigeria.
ECN 316:
Research Methodology
3units
Definition of research the role of research in development, the uses of
different statistical procedures including survey methods correlation and
regression and regression analyses: concept and use of mathematical
programming definition and scope of economics stages of economic
research simple linear economics model and ordinary least square
estimator multi-collianearity. Autocorrelation home-elasticity and
hetero-elasticity and simultaneous equation models and the two stage
least-square identification problem. Data degeneration with emphasis
on field survey. Analyzing data and reporting result.
Economics
50
ECN 317:
Applied Statistics for Economist
3 units
Nature and types of data; time series, cross section and panel data.
Sources of data; primary and secondary. Questionnaires and their
design. Further sampling techniques. Nature of economic model
building. Inferential statistics; simple and multiple regression,
correlation, ANOVA, t-test, etc. Hypothesis testing. Time series
analysis. Index numbers. Probability theory; mutually exclusive and
independent events. Probability distribution; Normal distribution,
Poisson distribution, Binomial distribution and hyper geometric
distribution. Inferential statistics and forecasting.
ECN 318:
Political Economy
2units
Basic
distinguishing
features
of
bourgeois/capitalist
and
dialectical/Marxist
methods
of
analysis.
Historical
materialism/Materialist conception of history. Classification of social
systems. Theory of social classes. Marxist theory of capital
accumulation. Metrpolitan and satellites economic relations. The
struggle against colonialism and neo-colonialism. Stages of socialist
and capitalist developments.
ECN 319:
Industrial Economics
2units
Scope and methodology of industrial economics. Theories of the firm.
The growth of the firm. Diversification, mergers and innovation.
Investment economics, risk and uncertainty. The cost of capital sources
of finance. Industrial pricing and marketing. Government intervention
in industry and public policy. Industrial location. Industrial practices
and policies in Nigeria.
Economics
51
ECN 320:
Financial Institutions
3units
Importance of money in the modern economy. Different types of
financial institutions. Relationship between the central authority and
financial institutions, Commercial, Merchant and Development Banks.
Non-bank financial institutions. Money and Capital Markets in
Development Countries.
International
Financial Institutions.
Globalisation of financial markets: advantages and challenges.
400 LEVEL COURSES
ECN 401:
Advanced Microeconomics
3 units
Fundamental quantitative relationships. Optimization in theories of
consumption and production. Dynamic analysis of inter-temporal
choice. Theories of the firm and its application to monopoly, oligopoly,
monopolistic and perfect competition. Theories of determination of
wages, rent, interest and profit. General equilibrium and disequilibrium.
Welfare economics and notions of efficiency and equity. Externalities
and social and private costs. Other areas of market failure.
ECN 402:
Advanced Macroeconomics
3 units
Statistics, dynamic and general equilibrium. Models of income
determination. Advanced theories of consumption, saving and
investment. Theories of money and interest. General equilibrium in the
product and money markets. Effectiveness of economics policy. The
Classical-Keynesian models of employment and output. Theories of
inflation- Philips relation. Models of economic growth. Keynesian and
Economics
52
monetarist interpretation of the trade cycle. The New Classical
macroeconomics.
ECN 403:
Project Evaluation I
3 units
Definition and classification of projects, programs and development
plans, Ex-ante and ex-post project studies and planning cycle, format
and theory of project analysis, Data requirements for project
identification and selection, Project preparation and feasibility analyses
and appraisal, Project implementation and scheduling, Project
monitoring, physical/financial, beneficiary-contact and diagnostic
studies, Project Evaluation, ex-ante and ex-post evaluations. Evaluation
indicators and models for impact assessment of investment project,
Discounted and undiscounted measures of project worth.
ECN 404:
Project Evaluation II
3 units
Projects, economic efficiency and rationale for project investment
decisions, Market failure, Government failure and the need for shadow
pricing, Project financing and sources of funds for project
implementation, Loan application procedure and financial documents
for feasibility appraisal, Identification and measurement of
economic/social benefits and costs, Cash flow and computation of
various measures of project worth, Identification and measurement of
project risk and uncertainties, Feasibility study reports and how they
can be analyzed, Computer based practical exercises on project
evaluation; B:C ratio, IRR and NPV computations. Project case studies
Economics
53
ECN 406:
Economic Planning
3 units
Rationale for Economic planning. The concept and Definition of
Economic planning. Origin of Planning, Types of Planning:
Perspective, Annual, Indicative, Financial, Physical, Imperative,
Central, Multi-Sectoral planning etc Objectives of Economic planning.
Planning Model, Aggregate Multi - sector Decentralisation, Social
Accounting Frame Work, Planning Techniques; Resource Projection
and Consistency Test Balancing. Input – Output Analysis: Meaning;
the Uses of Input Model in Planning; Feasibility and Consistency of the
Plan; the Leontief Solution; Limitation of Input – Output Model. Linear
Programming: Meaning, Conditions Generalisation; Assumptions of
Programming Techniques; Application in Planning and its Limitation.
Choice of Techniques, Economic Planning and Price Mechanism
Controls under Planning: Types of Control and Limitation Strategic
Planning Tools and Approaches: Situational Analysis and SWOT
Analysis, Resource Projection and Consistency Test Balancing
ECN 407:
Economics of Production
3 units
Production concept, function and problems, Production relationships:
factor-product, factor-factor and product-product, Types of production
functions, implicit, linear, Leontief and Cobb-Douglas functions;
Efficiency and productivity measurements: Partial and total factor
productivities, Total physical product, average and marginal
productivities; short and long-run production decisions, Costs, supply
marketing/pricing and revenue analyses, Theories of the firm and
optimization, Capacity management, operations planning and control,
Inventory management and supply of resources, work systems and
Economics
54
network analysis, Investment economics: risk and uncertainty factors,
Industry location and policy
ECN 408:
Agricultural Economics
3 units
Introduction to agricultural economics, scope and objectives. Farm
financial management. Appraisal and valuation. Types of farm records.
Use of farm records to analyse farm businesses. Balance sheet, cash
flow and income statements. Financial ratios budgeting and marginal
analysis. Economic principles and techniques for crop and livestock
management. Determination and management of farm resources.
Management of large and small scale farms. Risk and uncertainty in
farm planning and budgeting. Introduction to agricultural marketing and
challenges in developing countries, agricultural institutions and their
role in agro-rural development, Agricultural credit administration and
challenges in Nigeria.
ECN 409:
Taxation and Fiscal Policy
3 units
Taxes and alternative bases. Outline of Nigeria’s system of income tax
administrating, structure and procedure return’s assessment, appeal’s
post-mortem and collection. Distribution between taxation of income
and the taxation of capital personal income Tax; Law and practices of
income tax relating to individuals, exemptions, trust and estates.
Progressive taxation. Investment incentives policy Efficiency of public
expenditures.
ECN 410: Energy/Petroleum Economics
3 units
Global sources of energy and reserves: oil and gas, hydro, wind,
nuclear, solar etc, Hydro carbon usage and global warming: arguments
Economics
55
for renewable energy, Oil and gas and the Kyoto Protocol. Barriers to
implementation of Kyoto accord, OPEC and the global oil/energy
market: History, economics and politics in OPEC, Profiling of OPEC as
a cartel and the oil weapon, Energy resources in Nigeria. The
oil/petroleum sub-sector. Economics of oil and gas production,
marketing/export and consumption in Nigeria, Political economy and
stakeholders relationships in Nigeria’s oil and gas economy, oil
contributions to employment and growth, Deregulation and sustainable
development the oil and gas industry in Nigeria.
ECN 411
Managerial Economics.
3 units
The course is designed to equip students with critical knowledge and
skills for managerial decision-making that relies on basic economic
principles. Topics to be treated include conceptual overview of
management, management functions, tasks and responsibilities, and
managerial economics. The problem-solving process, economic
principles for effective management, Input procurement strategies of the
firm. Production and supply management, demand forecasting, price
and output determination. Costs and revenue analysis. Business and
enterprise analysis, optimization analysis; Investment analysis,
decision-making under risk and uncertainty.
Application of
employment theory to management policy.
ECN 412:
Advanced Econometrics
3 units
Introduction to algebra of econometrics “the general linear model and
generalized least-squares model. Further treatment of multiple
regression analysis and violation of classical regression model. The
method of Maximum Likelihood (ML). Maximum likelihood estimation
Economics
56
of the multiple regression model. Partial regression model. OLS and
ML estimation of partial regression. Elasticity measurement; the loglinear model, semi log models, log-lin models and lin-log models.
Testing for structural or parameter stability; the Chow test. Dummy
variable regression model. LOGIT MODEL. PROBIT MODEL. Panel
data model, Autoregressive and distributed lag model. Simultaneous
equation model; identification model, rules for identification and test
for simultaneity. Basic concepts in time series econometrics;
stationarity and unit root test.
ECN 413:
Advanced Mathematical Economics
3 units
First order difference and differential equation systems, constraint
optimization, lagragian multiplier and linear programming, Linear, nonlinear, static and dynamic models; input-output analysis; General
equilibrium analysis, dynamic programming, optimal control theory
with emphasis on Bellman and Pantryagin approaches. Mathematical
programmes. Dynamic programmes. Game theory and applications.
Linear, difference and differential equation systems.
ECN 414:
Environmental Economics
3 units
The role of economics in environmental policy decision making.
Different schools of thought. Ethnics, Ecological economics.
Sustainable development. Applied environmental economics. Global
environmental change. Environmental valuation, forestry, wildlife,
conservation, risk assessment, global warming and the role of carbondioxide in economics theory. Dynamics investment theory. Industrial
organization.
Economics
57
ECN 415:
Advanced Operations Research
3 units
Advanced Mathematical formulation of linear programming problems
(algebraic approach) Network Analysis; drawing of network, critical
path analysis, time analysis, the float, cost analysis, project evaluation
and review technique (PERT). Queue Theory; various queue system.
Number consideration, Time consideration, Chance consideration and
Cost consideration. Markov Chain; Transition matrix and analysis,
forecasting and steady state. Inventory Control; EOQ without discount
and EOQ with discount, stock outs EBQ model. Simulation. Advanced
graphical/simplex solution of linear programming problem.
ECN 416:
Comparative Economics Systems
3 units
Classification of economics systems. Communalism, slavery,
feudalism, capitalism, socialism and communism. The market system.
Price and labour policies. Money and international trade. The planned
economy and collective ownership. Socialist pricing. Planning of
consumption and investment. Labour policies and public finance.
Economic problem of socialism. Features of underdeveloped countries.
Planning for development.
ECN 417:
Problems and Policies of Development
3 units
Nature of development and determination of developing countries.
Major problems and the issues of development and underdeveloped.
Poverty, inequality, corruption in Sub-Saharan Africa. Population
growth challenges, urbanization, rural-urban migration. Human capital
and development. Trade theory and development experience.
Economics
58
Technology and technological development. Education
development issues. Globalization and financial markets.
and
ECN 418:
Economics of Agricultural Development
3 units
Agricultural sector and systems analysis in developing countries,
Concepts and measurements of agricultural growth, development,
economic growth and sustainable agriculture, Pivotal role of agriculture
in development process. Food security and food self-sufficiency;
Agricultural research and economic growth/development; Poverty
analysis and agro-rural development; agriculture-induced land
degradation, impacts and solutions; Agriculture land development and
tenure systems; Forestry/agro-forestry issues in
development;
Agricultural development policies, projects, programmes and strategies
in Nigeria; Commercial agriculture in Nigeria: policy issues and critical
considerations.
Economics
59
Notes on Total maximum
11
Summary of Recommended Units Per Level
Level
100
200
300
400
Semester
Compulsory
Elective
Unit
Unit
Total
First
18 units
2 units
20 units
Second
19 units
2 units
21 units
First
16 units
2 units
18 units
Second
16 units
2 units
18 units
First
16 units
2 units
18 units
Second
15 units
3 units
18 units
First
15 units
3 units
18 units
Second
15 units
3 units
18 units
Economics
60