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ECO448Social Sciences2 Unitsintermediate

Economic Planning II

This course builds on the understanding of Economic planning from ECO 447. It explores the dynamics of techniques and models of economic planning, focusing on their application in achieving economic growth and development. The course covers topics such as input-output analysis, social accounting matrix, general equilibrium models, linear programming, and cost-benefit analysis. It aims to provide a quantitative and qualitative understanding of these models and their real-world applications in economic planning policies, particularly in Less Developed Countries like Nigeria.

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156h

Study Time

13

Weeks

12h

Per Week

intermediate

Math Level

Course Keywords

Economic PlanningInput-Output AnalysisLinear ProgrammingGeneral EquilibriumCost-Benefit Analysis

Course Overview

Everything you need to know about this course

Course Difficulty

Intermediate Level

Builds on foundational knowledge

65%

intermediate

📊

Math Level

Moderate Math

📖

Learning Type

Theoretical Focus

Course Topics

Key areas covered in this course

1

Techniques of Economic Planning

2

Models of Economic Planning

3

Input-Output Analysis

4

Social Accounting Matrix

5

General Equilibrium Models

6

Linear Programming

7

Cost-Benefit Analysis

8

Investment Allocation

Total Topics8 topics

Requirements

Knowledge and skills recommended for success

Basic Microeconomics

Basic Macroeconomics

Introductory Statistics

💡 Don't have all requirements? Don't worry! Many students successfully complete this course with basic preparation and dedication.

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

Economic Planner

Apply your skills in this growing field

Policy Analyst

Apply your skills in this growing field

Development Economist

Apply your skills in this growing field

Project Manager

Apply your skills in this growing field

Investment Analyst

Apply your skills in this growing field

Industry Applications

Real-world sectors where you can apply your knowledge

Government AgenciesInternational Development OrganizationsFinancial InstitutionsConsulting FirmsResearch Institutes

Study Schedule Beta

A structured 13-week journey through the course content

Week

1

Module 1: Understanding Techniques, Models and Requisites of Economic Planning.

3h

Unit 1: Meaning of models in Economic Planning

3 study hours

•Read the meaning of models in economic planning.
•Understand the elements of development planning models.
•Identify the types of economic development planning models.

Week

2

Module 1: Understanding Techniques, Models and Requisites of Economic Planning.

3h

Unit 2: Rationale and prerequisite for successful Economic Planning.

3 study hours

•Show the rationales behind a successful economic planning.
•Enumerate the usefulness of development models to actual economic planning.
•Identify the need for planning in Less Developed Countries.

Week

3

Module 1: Understanding Techniques, Models and Requisites of Economic Planning.

3h

Unit 3: Categories of Development Planning Models in Focus

3 study hours

•Show the quantitative workings of some growth models.
•Do some quantitative workings on aggregate or macroeconomic models.
•Do some quantitative workings on sectoral and sub-sectoral models.

Week

4

Module 2: Input-Output Analysis in Planning.

3h

Unit 1: Meaning of Input-Output Technique

3 study hours

•State what input-output technique is all about.
•Show the essential features of input –output technique.
•Highlight the assumptions of the input –output technique.

Week

5

Module 2: Input-Output Analysis in Planning.

3h

Unit 2: Input –Output model

3 study hours

•Interpret, draw and decode the input-output table.
•Understand the Feasibility and consistency in planning.
•Understand the Matrix of technical coefficient of production calculations and the Leontief solutions.

Week

6

Module 2: Input-Output Analysis in Planning.

3h

Unit 3: Uses, Limitations and importance of input-output analysis to planning

3 study hours

•Know the uses of input-output analysis in plan formulations.
•Highlight the limitations and problems of input-output analysis.
•Understand the significance of input-output model in development planning as listed by the United Nations.

Week

7

Module 3 Social accounting matrix, General Equilibrium and Computable General Equilibrium Models of Economic Planning

3h

Unit 1 Social accounting matrix technique of economic planning.

3 study hours

•Define what Social Accounting Matrix (SAM) is.
•Know the origin and structure of social accounting matrix.
•Identify the uses of social accounting matrix for macroeconomic planning of developing nations.

Week

8

Module 3 Social accounting matrix, General Equilibrium and Computable General Equilibrium Models of Economic Planning

3h

Unit 2 General equilibrium model of economic planning.

3 study hours

•Understand the overview and modern concept of General equilibrium theory in economics
•Ascertain the Properties and characterization of general equilibrium analysis
•Discuss the unresolved problems in general equilibrium analysis

Week

9

Module 3 Social accounting matrix, General Equilibrium and Computable General Equilibrium Models of Economic Planning

3h

Unit 3 Computable General equilibrium model of economic planning.

3 study hours

•Show the Overview, structure and developments in CGE modelling.
•Understand CGE models as multisectoral model and its main features
•Identify the Advantages and limitations of GCE

Week

10

Module 4: Linear Programming Techniques and Cost-benefit Analysis in Planning.

3h

Unit 1: Introduction to the concept of Linear Programming technique

3 study hours

•Identify the Origin and meaning of linear programming technique
•Show the Conditions and generalisations of linear programming
•Highlight the assumptions of linear programming technique.

Week

11

Module 4: Linear Programming Techniques and Cost-benefit Analysis in Planning.

3h

Unit 2: Linear Programming technique and its application in Planning

3 study hours

•Understand Statement of the linear programming problem.
•Graphically solve the linear programming problem
•Highlight the Limitations of linear programming technique.

Week

12

Module 4: Linear Programming Techniques and Cost-benefit Analysis in Planning.

3h

Unit 3: Project selection technique of cost-benefit analysis

3 study hours

•Understand optimal investment allocation.
•Solve problems of multiple objectives
•Understand the assumptions underlying project selection

Week

13

Course Review and Exam Preparation

6h

Final Revision and Assignments

6 study hours

•Review all modules and units.
•Work on assignments.
•Prepare for final examination.

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.

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Study Tips & Exam Preparation

Expert tips to help you succeed in this course

1

Review all study units and focus on key concepts and models.

2

Practice solving numerical problems related to input-output analysis and linear programming.

3

Create summaries of each module, highlighting the main techniques and their applications.

4

Work through all self-assessment exercises and tutor-marked assignments.

5

Allocate sufficient time to understand the assumptions and limitations of each planning model.

6

Focus on understanding the relationships between different economic variables within each model.

7

Practice applying cost-benefit analysis to different project scenarios.

8

Create concept maps linking Units 3-5 database concepts

9

Practice SQL queries from Units 7-9 weekly

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