Login Create Account

Back to Course Catalog

ECO427Social Sciences2 Unitsintermediate

Comparative Economics

This course introduces students to the diverse world of economic systems, examining their theoretical underpinnings and practical applications. It explores various economic models, including capitalism, socialism, and mixed economies, comparing their strengths and weaknesses. The course also delves into the historical context of these systems, analyzing their evolution and impact on different societies. Students will learn to evaluate economic performance, understand institutional arrangements, and analyze contemporary economic challenges.

Generate AI Study Notes

Transform this course into personalized study materials with AI

156h

Study Time

13

Weeks

12h

Per Week

basic

Math Level

Course Keywords

Economic SystemsCapitalismSocialismMarxian EconomicsComparative Economics

Course Overview

Everything you need to know about this course

Course Difficulty

Intermediate Level

Builds on foundational knowledge

65%

intermediate

➕

Math Level

Basic Math

📖

Learning Type

Theoretical Focus

Course Topics

Key areas covered in this course

1

Capitalism

2

Socialism

3

Mixed Economy

4

Marxian Economics

5

Market Economy

6

Command Economy

7

Economic Development

8

Globalization

Total Topics8 topics

Ready to Start

No specific requirements needed

This course is designed to be accessible to all students. You can start immediately without any prior knowledge or specific preparation.

Assessment Methods

How your progress will be evaluated (3 methods)

Assignments

Comprehensive evaluation of course material understanding

Written Assessment

Tutor-Marked Assessments

Comprehensive evaluation of course material understanding

Written Assessment

Final Examination

Comprehensive evaluation of course material understanding

Written Assessment

Career Opportunities

Explore the career paths this course opens up for you

Economist

Apply your skills in this growing field

Policy Analyst

Apply your skills in this growing field

Market Research Analyst

Apply your skills in this growing field

Financial Analyst

Apply your skills in this growing field

International Trade Specialist

Apply your skills in this growing field

Industry Applications

Real-world sectors where you can apply your knowledge

GovernmentFinancial ServicesConsultingInternational OrganizationsResearch Institutions

Study Schedule Beta

A structured 13-week journey through the course content

Week

1

Module 1: Understanding the economy and the society's problem

2h

Unit 1: Basic meaning and definition of the economy

2 study hours

•Read the introduction to understand the scope and objectives of the course.
•Define the term 'economy' and its relevance to society.
•Identify the relationships between households, firms, and the government.

Week

2

Module 1: Understanding the economy and the society's problem

2h

Unit II: Factors of production

2 study hours

•Examine the roles of land, labour, and capital in the economy.
•Discuss the characteristics of each factor of production.
•Analyze the evolutionary effects of slavery, feudalism, and capitalism.

Week

3

Module 1: Understanding the economy and the society's problem

2h

Unit III: The problem of the society

2 study hours

•Define scarcity and its implications for society.
•Analyze the problem of 'what to produce' and the concept of opportunity cost.
•Discuss the challenges of 'how to produce' and 'for whom to produce'.

Week

4

Module 2: The basics of economic systems and institutions

2h

Unit 1: Classifications of the economy according to ownership of resources

2 study hours

•Define capitalism and its key features.
•Discuss the role of private ownership and market competition.
•Examine the advantages and disadvantages of capitalism.

Week

5

Module 2: The basics of economic systems and institutions

2h

Unit II Classifications of the economy according to decision making

2 study hours

•Define socialism and its key features.
•Discuss the role of public ownership and central planning.
•Examine the advantages and disadvantages of socialism.

Week

6

Module 2: The basics of economic systems and institutions

2h

Unit III: Comparison of economic ownership of resources and decision making

2 study hours

•Compare and contrast capitalism, socialism, communism and mixed economy.
•Analyze the strengths and weaknesses of each economic system.
•Discuss the role of government intervention in different economic systems.

Week

7

Module 3 The theory of Marxian economics

2h

Unit 1 Perspective of Marxian theory

2 study hours

•Explore the historical context of Marxian theory.
•Discuss the concepts of class struggle and alienation.
•Analyze the role of the state in Marxian economics.

Week

8

Module 3 The theory of Marxian economics

2h

Unit II Economies of USSR and CHINA

2 study hours

•Examine the economic system of the former USSR.
•Discuss the role of central planning and state-owned enterprises.
•Analyze the reasons for the collapse of the Soviet economy.

Week

9

Module 3 The theory of Marxian economics

2h

Unit III Economies of Yugoslavia, Hungary and Cuba

2 study hours

•Examine the economic systems of Yugoslavia, Hungary, and Cuba.
•Discuss the challenges and reforms in these economies.
•Compare and contrast their experiences with other socialist economies.

Week

10

Module 4: Contemporary economic system

2h

Unit 1: Economic system of USA, UK and Japan

2 study hours

•Analyze the economic systems of the USA, UK, and Japan.
•Discuss the role of markets and government intervention.
•Compare and contrast their approaches to economic management.

Week

11

Module 4: Contemporary economic system

2h

Unit 2: Economic system of Nigeria, India and Netherlands

2 study hours

•Analyze the economic systems of Nigeria, India, and Netherlands.
•Discuss the challenges and opportunities in these economies.
•Compare and contrast their approaches to economic development.

Week

12

Module 4: Contemporary economic system

2h

Unit 3: Economic system of Brazil and Asian tigers

2 study hours

•Analyze the economic systems of Brazil and the Asian Tigers.
•Discuss the factors that contributed to their economic success.
•Compare and contrast their approaches to economic growth.

Week

13

Final Revision

4h

Final Revision and Exam Preparation

4 study hours

•Review all course materials and key concepts.
•Prepare for the final examination by practicing with sample questions.
•Consult with your tutor to clarify any remaining doubts or difficulties.

This study schedule is in beta and may not be accurate. Please use it as a guide and consult the course outline for the most accurate information.

Course PDF Material

Read the complete course material as provided by NOUN.

Access PDF Material

Study Tips & Exam Preparation

Expert tips to help you succeed in this course

1

Create a study schedule that allocates sufficient time for each module and unit.

2

Focus on understanding the key concepts and theories presented in each unit.

3

Practice with sample questions and past examination papers to familiarize yourself with the exam format.

4

Review all tutor-marked assignments and feedback to identify areas for improvement.

5

Create concept maps linking different economic systems and their characteristics.

6

Pay close attention to the case studies and examples provided in the course materials.

7

Form study groups with your peers to discuss and clarify challenging concepts.

8

Prioritize the units identified as 'peak difficulty periods' for focused study.

9

Allocate time for regular breaks and relaxation to avoid burnout during exam preparation.

Related Courses

Other courses in Social Sciences that complement your learning

Data Analysis in Mass Communication

Research Methods In International Relations

Student Research Project (Contd.) Nigerian Local Government

View All Social Sciences Courses