FUNDAMENTALS OF ECONOMICS
- Course
- ECON110 - FUNDAMENTALS OF ECONOMICS
- Department
- Economics - English - Undergraduate
- Course Type
- Course
- Status
- Required
- Language
- English
- Credit
- 3
- ECTS
- 5
- T+P+L
- 3 + 0 + 0
- Course Coordinator(s)
- Asst. Prof. Dr. Isah WADA
- Prerequisite
- -
Course Description
This course provides a foundational understanding of economics, covering essential concepts that underpin both microeconomics and macroeconomics. Students will explore key topics such as supply and demand, market structures, the role of government in the economy, inflation, unemployment, and international trade. The course emphasizes the importance of economic reasoning and decision-making, providing students with the tools to analyze economic issues in both personal and professional contexts. By completion of the course, students will have a solid grasp of basic economic principles.
FUNDAMENTALS OF ECONOMICS
Evaluation Tools (Active Term)
| Item | Type | Weight (%) |
|---|---|---|
| Quiz 1 | Quiz | 15 |
| Quiz 2 | Quiz | 15 |
| Midterm | Midterm | 30 |
| Final | Final | 40 |
| Total | 100 | |
Course outcomes
- 01 Cognizance tht agriculture is indeed a type of business enterprise
- 02 Awareness of risks particular to agriculture
- 03 Awreness of the spcificity of markets in agricultural commodities
- 04 Appreciation fo the different types of costs particular to agriculture
- 05 Apreciation of the improtance of cash flows and money managemet
Course Syllabus
| Week | Topic |
|---|---|
| Week 1 | Agriculture as a business enterprise |
| Week 2 | Risk and risk takers. Risks closely associated with agriculture. Examples |
| Week 3 | The business idea and its appliation to agriculture. Cases |
| Week 4 | Fixed and variable costs in agriculture. Studies with numerical examples |
| Week 5 | Break-even analysis in agriculture. Cases and examples |
| Week 6 | Market power and competition. Types of markets |
| Week 7 | Cases of market types in agriculute. Real life examples of market power |
| Week 8 | Mid term exam week |
| Week 9 | Markets of agricultural commodities. Some lessons to the producers |
| Week 10 | Sensitivity analysis. Case studies |
| Week 11 | Further cases of sensitivity analysis |
| Week 12 | Cash flow analysis |
| Week 13 | Cash flow anlysis - examples and real cases |
| Week 14 | Success stories in contemporary agiculture |
| Week 15 | Final exam week |
Reference Books & Course Materials
- 01 Drummond, H, and Goodwin, Johnd W: "Agricultural Economics", third eition Pearson ISBN-13-978-01-36071921
Learning Outcomes
- L01 Cognizance tht agriculture is indeed a type of business enterprise
- L02 Awareness of risks particular to agriculture
- L03 Awreness of the spcificity of markets in agricultural commodities
- L04 Appreciation fo the different types of costs particular to agriculture
- L05 Apreciation of the improtance of cash flows and money managemet
Program Outcomes
No program outcomes have been defined.
Po-Lo Matrix
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