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
- P01 Gain the ability to apply the Pharmacy profession.
- P02 Interpret the accuracy and reliability of the current theoretical and practical knowledge in the field of pharmacy, as well as being able to follow and evaluate innovations.
- P03 Practically apply the knowledge they gain on pharmaceutical sciences. The acquired knowledge and skills allow the graduates to act as the closest health consultant to the public with the ability to inform the public.
- P04 Evaluate and apply current technology related to basic subjects and principles covering pharmacy and health sciences and take part in in-service training seminars.
- P05 Know the risks and evaluation of the use of drugs and other chemicals and safe laboratory practices (GMP).
- P06 Acquire the ability to interpret the findings obtained by qualitative and quantitative measurements and to reach valid scientific results from the data.
- P07 Prepare pharmaceuticals and provide guidance on the use of pharmaceutical products.
- P08 Design research and develop projects related to pharmaceutical products; manage and share the results.
- P09 Be competent to accurately and intelligibly communicate and transfer knowledge about prescription content and pharmaceutical products to the patient / user. The graduates are trained on taking necessary precautions for safe drug usage and encouraging rational drug use, as well as providing consultancy and supervision.
- P10 Work in an interdisciplinary environment. Graduates can cooperate with other professional groups, participate in vocational training and activities, have proper knowledge and communication skills.
- P11 Take part in social responsibility projects related to health. Graduates have awareness on sustainable environment and participate in activities and practices related to their profession.
- P12 Open a community pharmacy, also work in hospital pharmacies, can work in different fields related with pharmaceuticals, cosmetics, medical and herbal products, as well as production and quality control in the pharmaceutical industry. Takes part in the professional development of herself/himself, her/his colleagues and pharmacy students.
- P13 Implements the legal and professional law and ethics as a health professional, in issues concerning public health.
- P14 Knows and applies the processes related to drug design from natural or synthetic sources, as well as development, preparation, analysis and metabolism of drugs in the human body.
Po-Lo Matrix
| LO | P01 | P02 | P03 | P04 | P05 | P06 | P07 | P08 | P09 | P10 | P11 | P12 | P13 | P14 | Average |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| L01 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| L02 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| L03 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| L04 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| L05 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |