Monetary Economics

1. Explain the functions of money and the role of financial institutions.
2. Analyze the determinants of money supply and demand.
3. Evaluate the causes and consequences of inflation and deflation.
4. Compare and contrast monetary and fiscal policies.
5. Assess the impact of international trade and balance of payments on the economy.
6. Describe the principles of public finance and taxation.
7. Discuss the nature and management of public debt.
8. Calculate and interpret national income statistics.
9. Distinguish between economic growth and development.
10. Analyze the causes and effects of unemployment.

13 weeks, about 48 hours in total. Yours will differ.

1. Week 1Module 1: Money

   • Unit 1: Money · 3 hours

     Read the introduction to understand the concept of money and its evolution.. Study the definitions of money and differentiate it from wealth and financial resources.. Analyze the barter system and its limitations.. Attempt the student assessment exercise on the barter system..

2. Week 2Module 2: Demand for Money

   • Unit 2: Demand for Money · 3 hours

     Define the demand for money and understand its relationship with wealth.. Study the Liquidity Preference Theory and its implications.. Examine the motives for holding money: transactionary, precautionary, and speculative.. Attempt the self-assessment exercises..

3. Week 3Module 3: Supply of Money

   • Unit 3: Supply of Money · 3 hours

     Define the supply of money and its components.. Understand the determinants of money supply, including the behavior of banks and the public.. Examine the money stock composition and how it is measured.. Attempt the self-assessment exercise..

4. Week 4Module 4: Types of Financial Institutions

   • Unit 4: Types of Financial Institutions · 3 hours

     Define financial institutions and their role in channeling funds.. Recognize the various types of financial institutions, including banks and non-banks.. Arrange financial institutions into bank and non-bank categories.. List the types of financial institutions in Nigeria..

5. Week 5Module 5: Functions and Control of Financial Institutions

   • Unit 5: Functions of Financial Institutions · 3 hours

     Recognize the functions of bank financial institutions like CBN, Commercial Banks, Merchant Banks, and Development Banks.. Recall the functions of non-bank financial institutions like insurance companies, Finance Companies, Primary Mortgage Institutions, NERFUND, Discount Houses, NSITF, etc.. Define the functions of specialized banks Non-Conventional Banks..

   • Unit 6: The Control of Financial Institutions · 3 hours

     Identify the regulatory and supervisory authorities of the various Financial Institutions.. Examine how Central Bank of Nigeria controls the various Financial Institutions.. Specify the role of the Nigerian Deposit Insurance Corporation..

6. Week 6Module 6: Inflation and Deflation

   • Unit 7: Inflation · 3 hours

     Define inflation and its various types.. Specify the causes of inflation in Nigeria.. Appreciate the effects of inflation on the economy.. Recall the various ways of controlling inflation..

7. Week 7Module 6: Inflation and Deflation

   • Unit 8: Deflation · 3 hours

     Define deflation and its causes.. Determine the effects of deflation on the economy.. Suggest the various ways of controlling deflation.. Distinguish between Deflation and Inflation..

8. Week 8Module 7: Tools of Monetary Policies

   • Unit 9: Tools of Monetary Policies · 3 hours

     Present an introduction of the meaning, objectives and stance of monetary policy.. Discuss in brief the various tools and techniques of monetary policy.. Show the administrative procedure of formulation and monetary policy and the lags that often occur..

9. Week 9Module 8: The Nigerian Capital and Money Markets

   • Unit 10: The Nigerian Capital and Money Markets · 3 hours

     Understand the meaning of financial market, money market, capital market and their operators, instruments.. Identify the money market instrument and institutions.. Recognize the feature of a Developed Money Market.

10. Week 10Module 9: International Trade and Balance of Payments

    • Unit 11: International Trade · 3 hours

      Learn the concept, reasons for and importance of International Trade.. Quote the classical Theories of International Trade, especially the theory of comparative advantage and other rationals for trade between nations.. Outline the advantages and disadvantages of International Trade..

11. Week 11Module 9: International Trade and Balance of Payments

    • Unit 12: The Balance of Payments · 3 hours

      Define Balance of Trade and Terms of Trade.. Make clearer the meaning of Balance of Payments and its various items.. Distinguish between the various parts of the current and capital accounts that constitute the component/ structure of the Balance of Payments..

12. Week 12Module 10: Public Finance and Fiscal Policies

    • Unit 13: Scope of Public Finance · 3 hours

      Specify the meaning of Public Finance.. Differentiates between Public Sector, and Private Sector of the economy.. Examine the objectives of Public Finance..

    • Unit 14: Taxation and Fiscal Policies · 3 hours

      State clearly the reasons why Government levy tax or tax objectives.. Define the principles of taxation, what tax is, its effect and various types of tax.. Point out the characteristics or features of a good tax system.

13. Week 13Module 11: Budgeting and Public Debt

    • Unit 15: Budgeting in the Nigerian Public Sector - (Government Budgeting) · 3 hours

      Define what a Budget is, know how government prepares budget, presents it to the national assembly and recognize the steps to be taken in the presentation of a National Budget.. Examine what is budget deficit and budget surplus.. Appreciate the main roles of the budget..

    • Unit 16: Public Debt · 3 hours

      Know the meaning of public debt.. Analyze fully the rationale or reason for public debt.. Appreciate the effects of public debt and or the public economy..