Industrial Economics
- Social Sciences
- 700 level
- 2 credit units
- 210 pages
- 15 units
This course provides an in-depth understanding of industrial economics, covering its scope, methodology, and structure. It explores theories of the firm, growth strategies, diversification, and innovation. Students will learn about investment economics, risk management, cost of capital, and sources of finance. The course also examines industrial marketing, pricing strategies for public goods, government intervention, public policy, industrial location, practices in Nigeria, and investment demand.
About this course
- Difficulty
- Intermediate
- Study hours
- 200 hours
- Maths
- Basic
- Content
- Theoretical, case study
- Practical work
- No
- Assignments
- Tutor marked assessments
- Final examination
What you'll read
The real module and unit structure of ECO722, taken from the course material NOUN publishes.
One paragraph, so you can see how it reads
ECO722 · UNIT 1: SCOPE AND METHODOLOGY OF INDUSTRIAL ECONOMICS
The presentation schedule included in your course materials gives you the important dates for this year for the completion of tutor-marking assignments and attending tutorials. Remember, you are required to submit all your assignments by due date. You should guide against falling behind in your work.
What you should be able to do
- Explain the scope and methodology of industrial economics
- Apply theories of the firm to real-world scenarios
- Analyze the impact of innovation on industrial development
- Evaluate investment decisions under risk and uncertainty
- Understand government intervention in industry and its effects
What it prepares you for
- Industrial Analyst
- Policy Advisor
- Investment Strategist
- Market Researcher
- Business Development Manager
- Manufacturing
- Finance
- Government
- Consulting
- Energy
Where it gets hard
The units students slow down on, and what makes each one heavy.
- Module 2: INVESTMENT ECONOMICS, RISK AND UNCERTAINTY
Unit 2: Investment Economics, Risk and Uncertainty
Involves understanding of complex financial instruments and their impact on investment decisions.
- Module 3: INDUSTRIAL MARKETING
Unit 3: Government Intervention in Industry
Requires understanding of government regulations and their impact on market dynamics.
A suggested way through it
13 weeks, about 45 hours in total. Yours will differ.
- Week 1Module 1: SCOPE AND METHODOLOGY OF INDUSTRIAL ECONOMICS
Unit 1: Scope and Methodology of Industrial Economics · 3 hours
Understand the meaning and scope of industrial economics. Explore the methodology of industrial economics. Examine industrial structures and their impact on firms.
- Week 2Module 1: SCOPE AND METHODOLOGY OF INDUSTRIAL ECONOMICS
Unit 2: Theories of the Firms · 3 hours
Define a firm and its objectives. Analyze different theories of the firm. Understand profit-maximizing and non-optimizing theories.
- Week 3Module 1: SCOPE AND METHODOLOGY OF INDUSTRIAL ECONOMICS
Unit 3: Growth of the Firms · 3 hours
Explain the need for firm growth. Describe factors affecting firm size. Examine constraints to firm growth. Discuss measurement of growth.
- Week 4Module 1: SCOPE AND METHODOLOGY OF INDUSTRIAL ECONOMICS
Unit 4: Diversifications · 3 hours
Define diversification and its types. Analyze reasons for diversification. Evaluate advantages and disadvantages of diversification strategies.
- Week 5Module 2: INVESTMENT ECONOMICS, RISK AND UNCERTAINTY
Unit 1: Innovation · 3 hours
Understand the process of innovation. Explain stages of innovation. Explore methods for measuring innovation activities.
- Week 6Module 2: INVESTMENT ECONOMICS, RISK AND UNCERTAINTY
Unit 2: Investment Economics, Risk and Uncertainty · 3 hours
Define economic risk and uncertainty. Analyze the relationship between risk and uncertainty. Identify factors affecting investment decisions.
- Week 7Module 2: INVESTMENT ECONOMICS, RISK AND UNCERTAINTY
Unit 3: Cost of Capital · 3 hours
Define cost of capital. Classify types of cost of capital. Understand the importance of cost of capital. Explore methods for measuring cost of capital.
- Week 8Module 2: INVESTMENT ECONOMICS, RISK AND UNCERTAINTY
Unit 4: Sources of Finance · 3 hours
Define sources of finance. State and explain various sources of finance. Differentiate between equity and debt financing.
- Week 9Module 3: INDUSTRIAL MARKETING
UNIT 1 INDUSTRIAL MARKETING · 3 hours
Define industrial marketing. Compare industrial and consumer marketing. Analyze demand in industrial markets. Identify types of industrial customers.
- Week 10Module 3: INDUSTRIAL MARKETING
Unit 2: Pricing and Marketing Public Goods · 3 hours
Define public goods. Explain characteristics of public goods. Analyze the free rider problem. Understand the role of government in providing public goods.
- Week 11Module 3: INDUSTRIAL MARKETING
Unit 3: Government Intervention in Industry · 3 hours
Define government intervention. Identify objectives for government intervention. Explore instruments of government intervention. Analyze rationales for economic regulation.
- Week 12Module 3: INDUSTRIAL MARKETING
Unit 4: Public Policy · 3 hours
Define public policy. Explain features of public policy. Identify types of public policy. Understand the importance of public policy.
- Week 13Module 4: INDUSTRIAL LOCATION
Unit 1: Industrial Location · 3 hours
Define industrial location. Identify factors influencing industrial location. Explore Weber's theory of industrial location.
Unit 2: Industrial Practices and Policies in Nigeria · 3 hours
Understand industrial practices and policies in Nigeria. Analyze economic policies in Nigeria. Features of Nigeria Industrial Sectors. Major Industrial Policies in Nigeria Since 1960-2010.
Unit 3: Investment Demand · 3 hours
Define investment demand. Identify types of investment demand. Analyze determinants of investment demand.
Preparing for the exam
- Review all unit objectives and key terms
- Practice applying firm theories to case studies
- Create concept maps linking innovation and investment
- Study government intervention instruments and their effects
- Focus on Nigerian industrial policies and their outcomes
Questions students ask about this course
What is ECO722 about?
This course provides an in-depth understanding of industrial economics, covering its scope, methodology, and structure. It explores theories of the firm, growth strategies, diversification, and innovation. Students will learn about investment economics, risk management, cost of capital, and sources of finance. The course also examines industrial marketing, pricing strategies for public goods, government intervention, public policy, industrial location, practices in Nigeria, and investment demand.
How many units does ECO722 have?
ECO722, Industrial Economics, has 15 units across 4 modules, over 210 pages of course material. You can read it one unit at a time.
How many credit units is ECO722?
ECO722 carries 2 credit units, at 700 level in Social Sciences.
Is ECO722 hard?
ECO722 is rated intermediate level, with basic mathematical content. It is mostly theoretical and case study work.
How long does ECO722 take to study?
About 200 hours of study, spread across its 15 units.
How is ECO722 assessed?
ECO722 is assessed by assignments, tutor marked assessments and final examination.
What can I do with ECO722?
Industrial Analyst, Policy Advisor, Investment Strategist, Market Researcher and Business Development Manager.