Theory of PopulationFactors of ProductionProduction FunctionConcepts of Production FunctionStages of ProductionIsoquantCharacteristics of IsoquantsIsocostMarginal Rate of Substitution
Meaning of ProductionFactors of ProductionBasic Concepts of ProductionLaw of Diminishing ReturnsLaw of Returns to ScaleConstant Returns to Scale (CRS)Increasing Returns to Scale (IRS)Decreasing Returns to Scale (DRS)Production Runs (Short and Long Runs)
Theory of DemandLaw of DemandIndividual and Market DemandsTypes of DemandDeterminants of DemandsChange in Demand and Change in Quantity DemandedElasticity of DemandDeterminants of ElasticityElasticity and Total RevenueImportance of ElasticityIncome ElasticityCross Elasticity of DemandTheory of SupplyLaw of SupplySupply CurveExceptional SupplyDeterminants of SupplyTypes of SupplyChange in Supply and Change in Quantity SuppliedSupply and Time SpentPrice and Quantity Supplied under the Three Per...
Price Mechanism/TheoryTheory of DemandDemand ScheduleDemand CurveDemand FunctionTypes of DemandFactors Afffecting Demand or Demand DeterminantsChange in Quantity Demanded/Change in DemandExceptional/Abnormal Demand CurveTheory of SupplySupply ScheduleSupply FunctionFactors Afffecting Supply or Supply DeterminantsExceptional/Abnormal Supply CurveConcept of EquilibriumMerits of Equilibrium (Price System)Demerits of Price SystemGovernment Intervention and Price SystemConcept of ElasticityElastic...
Price Mechanism/TheoryTheory of DemandDemand ScheduleDemand CurveDemand FunctionTypes of DemandFactors Affecting Demand or Demand DeterminantsChange in Quantity Demanded/Change in DemandExceptional/Abnormal Demand CurveTheory of SupplySupply ScheduleSupply FunctionFactors Affecting Supply or Supply DeterminantsExceptional/Abnormal Supply CurveConcept of EquilibriumMerits of Equilibrium (Price System)Demerits of Price SystemGovernment Intervention and Price SystemConcept of ElasticityElasticit...
IntroductionPerfect CompetitionThe Characteristics of a Perfect CompetitionShort-run Equilibrium of the Perfect Competitive FirmAdvantages of Perfect CompetitionDisadvantages of Perfect CompetitionMonopoly Characteristics of Monopoly Sources of Monopoly PowerThe Short-run Equilibrium for a MonopolistLoss-Minimization by the Monopolist in the Short-runPrice DiscriminationMonopolistic CompetitionCharacteristics of Monopolistic CompetitionShort-run Equilibrium for Monopolistically Comp...
Law of Diminishing Marginal UtilityDerivation of Demand Curve from UtilityHousehold Equilibrium (Utility Maximization)Ordinalist Approach (Indifference Curve)Indifference Map
Distinguishing Between Microeconomics and MacroeconomicsSome Important Basic Conceptual Categories and Institutional Units of EconomicsHousehold Demand for a Good/Service
The Scope of Economics The Economic ProblemBasic problems for any Economy The methodology of EconomicsBasic tools for Economic Analysis
2.0 OBJECTIVES It is hoped that by the end of this unit, you will be able to: · understand the meaning of money and its evolution. · show the various types of money and the functions that money performs in every economy. 3.0 MAIN CONTENT 3.1 Definition of Money? Everybody who has reached the age of Kindergarten knows what money is. You possibly have touched money today. However, the term ‘money’ means different things to the ordinary man in the street. It is often used to describe wealt...
INDUSTRIALIZATION IN NIGERIA: POLICIES AND STRATEGIESEvaluation of Policies and Strategies of Nigerian’s IndustrializationAGRICULTURAL DEVELOPMENT POLICIES AND STRATEGIES IN NIGERIA Nigeria’s Post Independence Agricultural Policies and Strategies ECONOMIC SYSTEMSMajor Elements of Structural Diversity
Nigeria Economic StructurePRE-COLONIAL NIGERIAN ECONOMYIntroductionAgricultureFISHING, HUNTING AND PASTORALISMThe relative size, importance, and contribution of the various sector
IntroductionTypes of samples: Sample selection methodologiesProbability sampling methodologiesHow to determine a sample sizeSYSTEMATIC SAMPLING DEFINITIONDifference between linear systematic sampling and circular systematic samplingThe Advantages of systematic samplingWhat Is Stratified Random SamplingAdvantages of Stratified Random SamplingDisadvantages of Stratified Random SamplingREASON WHY SYSTEMATIC SAMPLING IS PREFERRED TO STRATIFIED SAMPLING
Analysis of Population ParametersSample StatisticSampling ParametersSampling ErrorSampling DistributionSampling Distribution of the Mean
IntroductionCorrelation AnalysisTypes and Magnitude of Measure of AssociationPearson's Correlation CoefficientSpearman's Rank Correlation CoefficientRegression AnalysisMethod of Eye FitThe Least Squares Regression LineForecasting in RegressionEstimation Error in the Dependent Variable yA Note of Warning in Forecasting