The objectives of the course are to:
1. introduce students to the concept, scope, types, and function of economics and the economic system.
2. discuss and apply the basic tools of economics analysis to resource allocation.
3. illustrate the price system and the elasticity of demand and supply.
4. explore the theory of consumer behavior and utility maximization by the consumer.
5. examine the process of production, production costs and profit maximization of the firm.
6. expose students to the theory and operations of the perfect market, monopoly, monopolistic competition, and oligopolistic competition.
7. discuss the theory of distribution with a focus on factor pricing and marginal productivity theory.
- Faculty : Ekundayo Mesagan
- Faculty : Julius C. Ujah