E-Text book by week
WK 3. Economic Models
https://www.youtube.com/watch?v=VC8Ipiwoa44 How theories are developed in economis. Very important you understand this meathod so you know how…
WK 2. Field Of Economics
https://www.youtube.com/watch?v=t7hVHzXdEpk Economics in every day life, How you can use the principles to make you life better….
WK 1. Economics, the study of Choice
https://www.youtube.com/watch?v=qnEZQRpWWi8 Economics in a nutshell, Video you can watch to get the basic info on economics ,…
E – Student List
- AKUILE CHIDERA BEST U/2023/28552 = ( ) + ( ) + ( ) + ( ) + ( ) = __ /30
- HARMONY CHUKWUEMEKA. C. U/2023/28577 = ( ) + ( ) + ( )+ ( ) + ( ) = __ /30
- OKEKE NAOMI CHINEMEREM U/2023/28639 = ( ) + ( ) + ( )+ ( ) + ( ) = __ /30
- DICKSON FAVOUR CHIDERA U/2023/28582 = ( ) + ( ) + ( )+ ( ) + ( ) = __ /30
- AYII ROBOOMNI U/2023/28562 = ( ) + ( ) + ( ) + ( ) + ( )= __ /30
- ONYEKACHI CHINAECHEREM U/2023/28650 = ( ) + ( ) + ( )+ ( ) + ( ) = __ /30
- ILEJEH ISAAC EMMANUEL U/2023/28606 = ( ) + ( ) + ( )+ ( ) + ( ) = __ /30
- BOYLI MIRANDA OGINI U/2023/28571 = ( ) + ( ) + ( )+ ( ) + ( ) = __ /30
- ANUCHA HELEN CHIOMA U/2023/28557 = ( ) + ( ) + ( )+ ( ) + ( ) = __ /30
- NWABUDE VIVIAN IFEOMA U/2023/28623 = ( ) + ( ) + ( )+ ( ) + ( ) = __ /30
- 1.Barnard Samuel Ifeanyi U/2023/28538= ( ) + ( ) + ( )+ ( ) + ( ) = __ /30
- 2.Orounabo Divine U/2023/28653= ( ) + ( ) + ( )+ ( ) + ( ) = __ /30
- 3.Onwuka Ogadinma Glory U/2023/28648= ( ) + ( ) + ( )+ ( ) + ( ) = __ /30
- 4.Godswill chinedu Oba U/2023/28631= ( ) + ( ) + ( )+ ( ) + ( ) = __ /30
- 5.ThankGod Tornubari Dombe U/2023/28586= ( ) + ( ) + ( )+ ( ) + ( ) = __ /30
- 6.Anaele Ebubechi progress U/2023/28554= ( ) + ( ) + ( )+ ( ) + ( ) = __ /30
- 7.Imo Malaki U/2023/28607= ( ) + ( ) + ( )+ ( ) + ( ) = __ /30
- 8.Adeh Elizabeth Joy U/2023/28545= ( ) + ( ) + ( )+ ( ) + ( ) = __ /30
- 9.Akpan uwem Happiness U/2023/28551= ( ) + ( ) + ( )+ ( ) + ( ) = __ /30
- Best favour Godwin U/2023/28601= ( ) + ( ) + ( )+ ( ) + ( ) = __ /30
About the course
This course is basically an introductory course on the Micro-economics aspect of economics theory. The topics covered includes the subject matter of economics and basic economics problems; the methodology of economics science; and the general principles of resource allocation; market mechanism-demand and supply; price determination and elasticity, theory of consumer behavior; theory of production; market structure price and output under perfect competition; monopoly; monopolistic competition and oligopoly. It takes you through meaning of economics and its various definitions. Since economics is defined based on the two assumptions, the assumptions were elaborated on in relation with some other concepts that are interwoven. Thereby interdependency and complexity of economics become obvious through real life scenario given in the units.
Course outline
Week 1& 2: Economics the study of choice
- Defining economics
- The field of economics
- The economist toolkit
Week 3&4: Confronting scarcity
- Factors of production
- Production Possibility
Week 5&6: demand and supply
- Demand
- Supply
- Demand, Supply and equilibrium.
Week 7: Elasticity
- Price elasticity of demand
- Demand and other factors.
- Price elasticity of supply
Week 8&9: Markets, Maximisers & Efficiency
- The logic of maximizing behavior
- Maximizing in the marketplace
- Market failure
Week 10&11: Analysis of customer choice
Week 12: Production Cost
Week 13: Competitive markets for goods and services
Course Objectives
The aim of this course is to give you in-depth understanding of the
economics as regards:
• Fundamental concept and practices of economics
• To familiarize students with scarce economics resources which form the basis for rational decision by households and firms
• To stimulate student’s knowledge of decision making within the households and firm
• To show the circular relationship between households and firm, input and output and flow of resources within the economy system
• To expose the students to economic history and behaviors of
households and firms in allocation of resource and in
manipulation of factors of production for profit maximization
