DESCRIPTION OF COURSES

AEC 201 – Introduction to Agricultural Economics I: 2-1-0 (3 units):

Introduction to Agricultural Economics – Scope and Method, Price Theory and the Functions of the Market with particular reference to Agriculture, Theory of Agricultural Production, Cost Analysis with respect to Agricultural Production, Theory of Distribution.

AEC 202 – Introduction to Agricultural Economics II: 2-1-0 (3 units):

Macro-Economic Theory as it relates to Agriculture emphasising the components of agriculture in National Income and in international trade; fiscal and monetary policies as they affect agriculture.  Inflation and the Rural Sector.

AEC 301 – Statistics and Biometrics: 2-0-3 (3 units):

The nature of Statistics and Statistical Method; Methods of Data Collection; Sampling and Presentation; Measures of Association; Regression Analysis; Analysis of Variance; Elementary design of experiments.

AEC 302 – Introduction to Farm Management: 2-1-0 (3 units)

Nature and scope of farm management, management functions in traditional agriculture, organisation of the farm set-up, farm records and accounting, farm business analysis, capital budgeting, farm and enterprise budgeting, farm decisions and long term investment, linear programming (maximization).  Analysis of various food crops interplanted with cocoa; reasons for interplanting; density of interplanted food crops; costs and returns in agroforestry.  Evaluation of alternative technologies in livestock production.

AEC 303 – Principles of Agricultural Economics I: 2-1-0 (3 units):

Theories of production (resource allocation), consumer behaviour and price determination with emphasis on agriculture.

AEC 304 – Principles of Agricultural Economics II: 2-1-0 (3 units)

Theory of income determination with emphasis on the impacts of the product, money and employment markets and of  macro economic policies on agriculture.

AEC 501 – Fundamentals of Econometrics: 2-0-3 (3 units):

Introduction to Econometric Methods; Simple linear regression; violation of basic assumptions of the classical normal linear regression model, estimation with bad or deficient data, multiple regression; statistical demand analysis; statistical production and cost analyses.

AEC 502 – Land  Resource Economics: 2-1-0 (3 units):

Study of Man and Land: Economic Principles relevant to Land Economics; Population pressure and the demand for land; Control of land use, spatial and location concepts of urban land, etc.  Land Tenure Systems and ownership of property rights, Land reforms: economic returns to land resources, real estate taxation of landed property, land development, conservation of land, institutional factors in land use; property rights in land resources; introduction to real estate finance and real estate market.  Natural Resource Economics.

AEC 503 – Mathematics for Agricultural Economics Analysis: 2-1-0 (3 units)

Revision of basic algebraic manipulations, solution of simultaneous, quadratic and cubic equations including production, cost and utility functions; sets and sample spaces.  Functions.  Differentiation and Derivatives, techniques of maximization and minimization, integration and difference Equations.  Series and Progressions.  Elements of Matrix Algebra and economic applications e.g. in national income models.  Solving systems of equations and comparative statistics.

AEC 504 – Agricultural Economic Analysis II: 2-0-3 (3units):

Consumption, saving and the theory of income determination; the general equilibrium level of employment, the price level and the theory of interest, inflation and deflation, Macro-economic policies; monetary and fiscal.

AEC 505 – Agricultural Development and Policy: 2-1-0 (3 units):

Objectives of Economic Development; Theories and Models of Economic Development; Agriculture’s contributions to Economic Development; Appropriate Technology in Agriculture; Economic Institutions; Population Pressure; Consumption, Savings and Capital Formation, Agricultural Policy; Case Studies in Agriculture.

AEC 506 – Production Economics 2-1-0(3units)

Location of Agricultural Production; The physical environment of agricultural production, comparative advantages and localization of production, the technical knowledge, capital, human & institutional factors; Traditional African cultivation systems, which discusses shifting cultivation, ridge cropping, multiple cropping systems;  Input-Output relationships in agricultural production including principles of diminishing returns, optimal use of factor inputs, opportunity costs and output, factor combination and least cost combination of factor inputs and linear programming;  Risk and uncertainties and enterprise combination, risk uncertainty and innovation;. Economies of size and scale and their applications; Farm appraisal and valuation.

AEC 507 – Management Information System

Management Information System – an Oversea Information, data and Communications; Systems Concepts  Structure and Elements;  Systems Concepts – Objectives and Types; Organisations – Principles and Structure;  Organisations – Adaptability and Behaviour; Organisations – Configuration, Culture and Information;  Management levels and functions;  Motivation and Leadership;  Organising and Coordinating;  Planning;  Decision-making;  Control – Concepts, Loops and Information; Control in Organisations;  Information Technology and MIS;  Influences on MIS design

AEC 508 – Agricultural Business Management: 2-1-0 (3 units)
The Scope of Agricultural Business and Management.  Types of Agricultural Business Management and Organizations.  Management,  Accounting,  Production Planning;  Public policies affecting growth of agricultural business; organisation of large-scale farms; legal organisation and tax strategies.  Economics of Agricultural Processing and Marketing Management. Financial Control, Case Studies of Agricultural Businesses in Nigeria.

AEC 509 – Research Method in Agricultural Economics:  1-0-6 (3 units)

Introduction to scientific methods, defining a research problem; developing hypotheses and objectives; research design, measurement and data collection; statistical analysis of data, data presentation and report writing.

AEC 510 – Agricultural Finance: 2-1-0 (3 units)

Principles of Agricultural Finance, types of credit extended to agriculture; the basis of interest rates; sources of loanable funds and collateral security for loans; specialized institutions for the extension of agricultural credit in Nigeria, including cooperative loan and thrift societies; financial management concepts for managing growth, leverage, liquidity, risk and capital investment in agricultural businesses; Inventory, balance sheet, cash book analyses an examination of financial markets, principles of accounting.

AEC 511 – Agricultural Economics Analysis I: 2-1-0 (3 units):

The theory of Consumer behaviour, price theory and resource allocation; analysis of market structure; market equilibrium analyses (partial & general) for outputs, inputs and prices; welfare economics.

AEC 512 – Agricultural Marketing: 2-1-0 (3 units)

The role of marketing in agricultural development; marketing functions, channels and costs; the nature of competition in agricultural marketing; cooperative marketing of agricultural products; the process of analysing marketing problems; Agricultural demand and Price analysis; marketing  research, techniques for evaluating marketing efficiency.  Domestic marketing of agricultural commodities; international trade in agricultural commodities.

AEC 513 – Farm Management and Accounting: 2-1-0 (3 units):

The decision-making process in farm management.  Organisation of resources, organisation of enterprises.  Principles and procedures in planning enterprise combinations. Budgeting and programme planning.  Cash –flow budget and its uses.  Break-even analysis.  Measurement of resource productivity.  Principles of labour management and wage administration. Farm decisions and long-term investment.  Linear Programming.  Farm records and accounts.

AEC 514 –  Research Project:

Steps in the research process and their application, evaluation and treatment of economic data in agriculture.  Methods of sample survey design, questionnaire design and administration.  Techniques of data analysis including multiple regression and techniques of research report writing. Time-series analysis: secular trend, seasonal variations, cyclical and irregular fluctuations; application to agricultural economic problems.

Demography and demographic data analysis, Social Accounts and the Measurement of National Income, Real Domestic Product and indexes of production.  Quality Control (Statistical Control of quality).

AEC 515 – Statistics for Agricultural Economists: 2-1-0 (3 units):