ECONOMETRICS METHOD (ECN 417)

 INTRODUCTION AND PRELIMINARY REVIEW

 Definition/Objectives and Scopes of Econometrics
 Relevance of Econometrics
 Roles of Computer in Econometric Research

 ECONOMETRICS MODELLING
 What is a Model? Why do we have Models?
 Types of Econometric Models (Linear, Simultaneous, Non-linear)
 Approaches to Econometric Model (General, Specific)
 Types of Data (Qualitative and Quantitative, Discretive and Continuous, Time-series,
Cross-sectional and Panel)
 Sources of Data ( Primary and Secondary)

 STAGES OF METHODOLOGY OF ECONOMETRICS

 Types of Econometrics (Theoretical and Applied)

 ECONOMETRICS METHOD (1)

 Regression versus Causation
 OLS Estimation, Goodness of Fit (R2)
 Properties of OLS Estimators
 Estimation of Models
 Hypothesis Testing
 Interpretation and Policy Inferences, etc.

 ECONOMETRICS METHOD (2)

 Multiple Regression Model
 Three-variable Model
 OLS Estimation Using Matrix Algebra
 Multiple Coefficient of Determination
 Hypothesis Testing
 Testing for Parameter Stability
 Interpretation and Policy Inferences, etc.

 DUMMY VARIABLE
 Why Dummy?
 Dummy Effects
 Interaction & Seasonal Specification
 Estimation and Interpretation, etc.
  VIOLATION OF OLS ASSUMPTIONS (1)
Multicollinearity
Nature of Multicollinearity
Consequences of Multicollinearity
Detection of Multicollinearity
Remedial Measures/Solutions to Multicollinearity

 VIOLATIONS OF OLS ASSUMPTION (2)

Nature of Autocorrelation
Consequences of Autocorrelation
Detection of Autocorrelation
Remedial Measures/ Solutions to Autocorrelation

 VIOLATIONS OF OLS ASSUMPTION (3)

Heteroscedasticity
Nature of Heteroscedasticity
Consequences of Heteroscedasticity
Detection of Heteroscedasticity
Remedial Measures / Solutions to Heteroscedasticity

 MIS-SPECIFICATION ERROR IN ECONOMETRICS

Types of Mis-specification Errors
Wrong Regression (Omitting Influential or Including Non-influential Explanatory Variables)
Various Functional Forms
Measurement Errors

ADVANCED MACROECONOMICS (ECN 421)

 Introduction to Macroeconomics and Growth Facts

 Growth Accounting
 The Solow Model
 Growth and Idea
 The Labour Market, Wages and Unemployment
 Inflation
 The IS Curve
 Monetary Policy and The Philip Curve
 The Aggregate Demand and Stabilization Policy
 Consumption
 Investment
 The Government and The Macroeconomy
 International Trade
 Exchange Rate and International Finance
 ADVANCED INDUSTRIAL RELATIONS (ECN 431)

 Definitions and Scope of Industrial Relations

 Theories of Industrial Relations
 Trade Union
 Definitions and Types
 Development of Trade Unions in Nigeria(since 1912)
 Employers’ Association
 Structure and Development of Employers’ Association
 Functions and Types of Employers’ Association
 Labour Disputes and their Settlements
 Definitions and Types of Disputes
 Dispute Settlement Procedures
 Manifestations of Disputes
 Collective Bargaining
 Elements and Structures of Collective Bargaining
 Government Policy and Constraints
 Joint Consultation
 International Comparison of Industrial Relation and Future of Industrial Relation.

ADVANCED TRADE THEORY (ECN 418)

 Introduction
 Demand and Supply, Offer Curve, Indifference Curve, Terms of Trade
 Classical Theory (Absolute and Comparative Advantage)
 Static and Dynamic Comparative Advantage Theories
 Evaluation of the Classical Theory (Limitations, Merits and Demerits)
 Neoclassical Theory of International Trade (Opportunity Cost Approach)
 Evaluation of Neoclassical Theory of International Trade
 Factor Endowment, Factor Intensity and Factor Abundant Theory
 Factor-price Equalization Theorem
 Evaluation and Criticism of H-O Theorem
 The Stolper-Samuelson Theorem
 The Rybczynski Theorem
 New Trade Theories
 Labour Skill Theory
 Technological Gap Model
 Linder’s Reciprocal Demand Theory
 Trade Gravity Model

PRODUCTION ECONOMICS (ECN 425)

 Optimization Principles and Techniques in Economics

 Core Production Economics
 Linear Programming Optimization and The Firm
 Network Analysis
 Optimal Long Term Investment Decision
 Welfare Economics and Business Decision Making
 Introduction to Production Measurement and Technical Efficiency
 Data Envelopment Analysis
 An Extension of Data Envelopment Analysis

ENTREPRENEURIAL DEVELOPMENT (ECN 308)

 Introduction to Entrepreneurship
 What is Entrepreneurship?
 Changing Demographics of Entrepreneurship
 The Importance of Entrepreneurship
 Self Assessment and The Entrepreneurial Process
 Entrepreneurial Characteristics

 Recognizing Opportunities and Generating Ideas

 Identify, recognize techniques.

 The Route to Entrepreneurship

 Is a good idea enough?
 Why and how enterprises are started
 Franchising

 Feasibility Analysis
 Writing a Successful Business Plan
 Industry and Competitor Analysis

ADVANCED MATHEMATICAL ECONOMICS (ECN 444)

1. Linear Programming
2. Optimization Function
3. Production Function
4. Cramer’s Rule and Application to Economic Models
5. Inverse Matrix
6. Input-Output Analysis
7. Exponential Function and Application to Economics
8. Dynamic Analysis (Integral Calculus, Differential Equation and Difference Equation)

ADVANCED MICROECONOMICS (ECN 411)

 Theory of Consumer Behaviour

  Optimization of Utility
 Demand Functions
 Utility Functions and Revealed Preference
 Theory of Firm
 Production Function
 Optimization Behaviour
 Cost Functions
 Theory of Market Equilibrium
 The Basic Theory of Monopoly
 Monopoly Discrimination and Monopsony
 Monopolistic Competition
 Duopoly and Oligopoly
 Equilibrium Solutions
 Differentiated Products
 Introduction to Game Theory
 Welfare Economics and Pareto Optimality

DEVELOPMENT PROBLEMS AND POLICIES (ECN 413)

 The Rationale and Methodology of Problem Approach to Development Policies

 Macroeconomic Development Problems and Policies
 Objectives and Problems of Agricultural Development
 The Cornerstone of Agricultural Development Policies
 Industrial Development Problems of Less-Developed Countries
 Industrial Development Policies
 Problems and Policies of Physical Infrastructure
 International Trade Problems of Less Developed Economies
 International Trade and Development Policies
 Social and Environmental Development Policies

ECONOMIC AND SOCIAL ANALYSIS OF PROJECT

 Review of Year 4 Project Analysis and Evaluation (ECN 414)

 Economic Justification of Government Investment in Capital Projects.
 The Theoretical Basis of Economic and Social Analysis of Public Projects
 Definition, Identification, Measurement of Economic and Social Benefits and Cost
 Shadow or Accounting Prices
 The Social Discount Rate
 Determination of Economic and Social Analysis of Projects
 Network Analysis
 Case Studies