Economics Lectures
 /  Economics Lectures
  1. Analysis of development in the pre colonial and post colonial periods with regard to the development and social organization.

    Rolle Remi Ahuru

    Introduction: It has been viewed by some Eurocentric writers that pre-colonial West African economy was stagnant, subsistence and that it lacked real market status before British colonization. This argument stems from some anthropological perceptions (substantivist stand point) that the main sector of this economy was basically subsistence agriculture, which had been made stagnant as a result of application of simple technology without organized specialization. Production target is said to ensure human existence with little or no exchange as a result of limited output1.

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  2. BASIC ECONOMIC PROBLEMS OF THE SOCIETY

    Rolle Remi Ahuru

    What to Produce The first central problem of an economy is to decide what goods and services are to be produced and in what quantities. This involves allocation of scarce resources in relation to the composition of total output in the economy. Since resources are scarce, the society has to decide about the goods to be produced: wheat, cloth, roads, television, power, buildings, and so on.

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  3. CONCEPT OF LABOUR ECONOMICS

    Rolle Remi Ahuru

    Introduction Labor economics is the branch of economics that studies the nature and determinants of employment and compensation. Particular emphasis is placed on the role played by social institutions and different types of market structures that jointly determine the pattern and mobility or speed of adjustment in the labor market where human labor inputs are bought and sold.

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  4. ECN328 – Public Sector Economics

    Dr. Dania Evelyn

    Introduction: Economics has been defined simply as a field connected with management and sharing of limited social resources amongst unlimited social needs. With this economists have devised a method of ensuring the efficient, effective and equitable distribution of social resources in order to achieve optimum satisfaction. This led to the market mechanism which was believed would help to end the achievement of this objective without government interference.

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  5. ECN328 – Public Sector Economics – Lecture 2

    Dr. Dania Evelyn

    The Cost Benefit Analysis, (CBA): we shall explore the economics of public expenditures decision making process and discuss the role of economic analysis in making this process more rational one. We are going to use the basic principles in the analysis of public spending programme. The method employed in the analysis is called Cost Benefit Analysis, (CBA).

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  6. EXTERNALITIES

    Rolle Remi Ahuru

    Introduction Externalities are costs (negative externalities) or benefits (positive externalities), which are not reflected in free market prices. Externalities are sometimes referred to as 'by-products', 'spillover effects', 'neighborhood effects' 'third-party effects' or 'side-effects', as the generator of the externality, either producers or consumers, or both, impose costs or benefits on others who are not responsible for initiating the effect. The key feature of an externality is that it is initiated and experienced, not through the operation of the price system, but outside the market.

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  7. FISCAL POLICY

    Rolle Remi Ahuru

    Introduction Fiscal policy involves the government changing the levels of taxation and government spending in order to influence Aggregate Demand (AD) and the level of economic activity. AD is the total level of planned expenditure in an economy (AD = C+ I + G + X – M)

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  8. Instruments of Monetary Policy

    Rolle Remi Ahuru

    Introduction The instruments of monetary policy are of two types: first, quantitative, general or indirect; and second, qualitative, selective or direct. They affect the level of aggregate demand through the supply of money, cost of money and availability of credit. Of the two types of instruments, the first category includes bank rate variations, open market operations and changing reserve requirements. They are meant to regulate the overall level of credit in the economy through commercial banks.

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  9. LABOR FORCE

    Rolle Remi Ahuru

    Introduction The total number of people in an economy, society, or country willing and able to exert mental and/or physical efforts in productive activities. The labor force is a more technical term for the labor resource or labor supply. It includes both employed workers and unemployed workers. An official variation of this term is civilian labor force. While labor force may or may not include military personnel, the civilian labor force explicitly excludes the military. Labor and labor resources are the theoretical terms that economists like to banter about.

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  10. MAJOR AREAS OF SPECIALIZATION IN ECONOMICS

    Rolle Remi Ahuru

    LABOUR ECONOMICS Labour economics looks at the suppliers of labour services (workers), the demands of labour services (employers), and attempts to understand the resulting pattern of wages, employment, and income. In economics, labour is a measure of the work done by human beings. Labour economics field tries to understand and explain dynamics and functioning of labour market, both at theoretical and empirical levels. The field has a significant policy orientation, with a strong theoretical background.

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  11. MONETARY INSTITUTIONS

    Rolle Remi Ahuru

    Introduction: A financial institution is an establishment that conducts financial transactions such as investments, loans and deposits. Almost everyone deals with financial institutions on a regular basis. Everything from depositing money to taking out loans and exchanging currencies must be done through financial institutions.

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  12. MONETARY POLICIES

    Rolle Remi Ahuru

    Introduction Monetary policy is how central banks manage liquidity to create economic growth. Liquidity is how much there is in the money supply. That includes credit, cash, checks, and money market mutual funds. The most important of these is credit. That includes loans, bonds, and mortgages. Also, monetary policy consists of the actions of a central bank, currency board or other regulatory committee that determine the size and rate of growth of the money supply, which in turn affects interest rates.

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  13. NATURE AND LAWS OF DEMAND

    Rolle Remi Ahuru

    Introduction In economics, demand is the quantity of goods or services that consumers are able and willing to buy at a given price at a particular time. The law of demand provides that, if all other market factors remain constant, the demand for goods and services increases as their price decreases.

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  14. Objectives of Monetary Policy

    Rolle Remi Ahuru

    Introduction The monetary policy in developed economies has to serve the function of stabilization and maintaining proper equilibrium in the economic system. But in case of underdeveloped countries, the monetary policy has to be more dynamic so as to meet the requirements of an expanding economy by creating suitable conditions for economic progress. It is now widely recognized that monetary policy can be a powerful tool of economic transformation.

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  15. Public Enterprise in Nigeria

    Rolle Remi Ahuru

    Introduction The origin of the involvement of the Nigerian government in the setting up of public enterprises can be placed within the context of Nigeria’s colonial and postcolonial experiences. During colonial rule and after independence in 1960, it was discovered that it was imperative that the government must be involved in business activities as an entrepreneur to perform some business roles, secure economic independence and economic development for the nation because of the absence of capable indigenous entrepreneurs with enough technical knowhow and financial capacity to compete with foreign firms operating in the country then.

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  16. ROLE OF AGRICULTURE IN NIGERIAN ECONOMIC DEVELOPMENT

    Rolle Remi Ahuru

    Introduction Agriculture has been regarded in recent times as the most viable route with which Nigeria can successfully meander from her current economic dilemma. Agriculture involves the science, practice and occupation of cultivating land and raising crops. It also involves the feeding, breeding and raising of livestock. The main purpose of agriculture is to provide food and raw materials for human use.

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  17. ROLE OF INDUSTRY AND ECONOMIC DEVELOPMENT

    Rolle Remi Ahuru

    Introduction Industrial Sector is of great importance for economic development of country. It is historical fact that countries with strong industrial sector have showed more economic growth and development industrial sector have shows improvement in national income and promoted living standard of population.

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  18. SCOPE OF LABOUR ECONOMICS

    Rolle Remi Ahuru

    Introduction The scope of labour economics covers those fields of state-activity where labour directly or indirectly involved. It is a systematic study of various theories concepts, hypothesis and steps relating to the labour class. Labour economics deal with various aspects such as labour organization, collective bargaining, wages and employment theory, man power economics. The workers are primarily concerned with security of employment upon which depends the wellbeing of the entire working class.

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  19. THE BASIC ECONOMIC PROBLEMS AND CONCEPTS

    Rolle Remi Ahuru

    Wants: Want may be defined as an insatiable desire or need by human beings to own goods or services that gives them satisfaction. The basic needs of man include; food, housing and clothing. Human needs are many. They include tangible goods like houses, cars, chairs, television set, radio, and so on. While the others are in form of services, e.g. tailoring, carpentary, medical, and so on. Human wants and needs are many and are usually described as insatiable because the means of satisfying them are limited or scarce.

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  20. The Concept of Equilibrium

    Rolle Remi Ahuru

    Introduction The word equilibrium is derived from the Latin word equilibrium which means equal balance. Its use in economics is imported from physics. In physics it means a state of even balance in which opposing forces or tendencies neutralize each other. In economics, equilibrium implies a position of rest characterized by absence of change.

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  21. The problems of Nigeria public sector

    Rolle Remi Ahuru

    Introduction Available evidence shows that the performance of public service in virtually all tiers of government in Nigeria has remained very dismal, hence the present state of underdevelopment The dismal performance of public enterprises, like the former National Electric Power Authority (NEPA) and the Nigerian Telecommunication (NITEL) is very obvious in this regard.

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  22. UNEMPLOYMENT

    Rolle Remi Ahuru

    Introduction Unemployment is a phenomenon that occurs when a person who is actively searching for employment is unable to find work. Unemployment is often used as a measure of the health of the economy. The most frequently measure of unemployment is the unemployment rate, which is the number of unemployed people divided by the number of people in the labor force.

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  23. WHAT DOES MONETIZATION MEAN?

    Rolle Remi Ahuru

    Introduction Monetization refers to the conversion of an investment into cash, which usually happens via a liquidity event. When investors, such as venture capital or private equity firms, invest in a private company, they expect to get their money back plus a specified return within a certain period of time. The investee may flow some cash out via dividends, but the primary way in which the investors realize their return is by monetizing their investment though a sale. Monetization can occur in several ways, but the more common ones include selling to or merging with another company, or taking the company public via an initial public offering (IPO) .

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