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PSM805Management Sciences2 Unitsintermediate

Economic Development In Nigeria

This course, Economic Development in Nigeria, is designed for M. Sc. students in the School of Management Sciences. It explores the meaning of economic development, theories, and principles, focusing on their impact on the Nigerian economy. The course covers the development process, prospects, and strategies, including the circular flow of economic activity, monetary and fiscal policies, development planning, and poverty alleviation strategies like NEEDS. It aims to equip students with the knowledge to contribute effectively to Nigeria's development programs.

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208h

Study Time

13

Weeks

16h

Per Week

basic

Math Level

Course Keywords

Economic DevelopmentMonetary PolicyFiscal PolicyDevelopment PlanningPoverty Alleviation

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

Circular Flow of Economic Activity

2

Monetary Policy Goals and Instruments

3

Fiscal Policy and Government Expenditures

4

Economic Growth Determinants

5

Theories of Economic Development

6

Development Planning in Nigeria

7

Indigenisation Policy

8

Poverty Alleviation Strategies

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

Policy Analyst

Apply your skills in this growing field

Economic Advisor

Apply your skills in this growing field

Development Officer

Apply your skills in this growing field

Public Administrator

Apply your skills in this growing field

Financial Analyst

Apply your skills in this growing field

Industry Applications

Real-world sectors where you can apply your knowledge

Government AgenciesFinancial InstitutionsDevelopment OrganizationsConsulting FirmsResearch Institutes

Study Schedule Beta

A structured 13-week journey through the course content

Week

1

Module 1: Introduction

2h

Unit 1: Market Participants and Circular Flow of Economic Activity

2 study hours

•Understand the roles of consumers, businesses, government, and foreigners in the economy.
•Analyze how these participants interact in factor and product markets.
•Examine the circular flow model and its implications for economic development.

Week

2

Module 1: Introduction

2h

Unit 2: Goals, Instruments, Targets, and Problems Associated with Monetary Policies

2 study hours

•Identify the goals of monetary policy, including high employment, economic growth, and financial market stability.
•Examine monetary policy instruments like open market operations and reserve requirements.
•Discuss the problems and limitations of monetary policy in Nigeria.

Week

3

Module 1: Introduction

2h

Unit 3: Government, Foreign Trade, and the Economy

2 study hours

•Analyze the impact of government expenditures and foreign trade on national income.
•Understand the balanced budget multiplier and its effects.
•Examine the role of imports and exports in the determination of national income.

Week

4

Module 1: Introduction

2h

Unit 4: Economic Growth in Nigeria: A Historical Background

2 study hours

•Examine the historical performance and determinants of economic growth in Nigeria.
•Discuss the basic factors affecting growth, including productivity, investment, and political systems.
•Analyze the dynamics of Nigeria's economic growth over time.

Week

5

Module 1: Introduction

2h

Unit 5: The Historical Theories of Development

2 study hours

•Understand the definitions and theories of economic development.
•Examine Schumpeter's theory of economic development.
•Discuss the roles of technological change, entrepreneurship, capital, and credit in economic development.

Week

6

Module 2: Development Theories

2h

Unit 1: The Big-Push Theory of Economic Development and Harrod-Domar's Theory of Growth

2 study hours

•Explain the Big Push theory and its implications for underdeveloped countries.
•Discuss the indivisibilities in the production function, demand, and supply of savings.
•Examine the criticisms of the Big Push theory.
•Understand the Harrod-Domar's theory of economic growth and its limitations.

Week

7

Module 2: Development Theories

2h

Unit 2: Stages of Economic Development

2 study hours

•Analyze the stage theories of economic development and growth.
•Examine Rostow's stages of economic development.
•Discuss economic development under conditions of unlimited supplies of labor.

Week

8

Module 2: Development Theories

2h

Unit 3: Development Planning in Nigeria

2 study hours

•Define development planning and its objectives.
•Distinguish between different types of development plans, including short-range, medium-range, perspective, and rolling plans.
•Discuss the pre-independence development planning in Nigeria.

Week

9

Module 2: Development Theories

2h

Unit 4: The Post-Independence Development Planning in Nigeria

2 study hours

•Identify the post-independence development plans in Nigeria.
•Analyze the performance of public capital expenditure projects under the development plans.
•Explain the relative importance of development planning in Nigeria.

Week

10

Module 2: Development Theories

2h

Unit 5: Rolling Plans in Nigeria

2 study hours

•Identify the principles behind rolling plans in Nigeria.
•State the objectives of the rolling plans.
•Give an account of the problems of implementation of rolling plans in Nigeria.

Week

11

Module 3: Development Policies

2h

Unit 1: Indigenisation as a Development Policy in Nigeria

2 study hours

•State the aim and objectives of indigenization in Nigeria.
•Explain the provisions of the Nigerian indigenization policy.
•Explain recent developments on the Nigerian indigenization policies.

Week

12

Module 3: Development Policies

4h

Unit 2: The Nigerian Fiscal Policies

2 study hours

•Explain what fiscal policies are all about.
•Identify the objectives of fiscal policies in Nigeria.
•Discuss the composition and trend of government revenues in Nigeria.
•Analyze the performance of public expenditures in Nigeria.

Unit 3: Monetary Policy Framework in Nigeria

2 study hours

•State the meaning of monetary policy.
•Explain the framework of monetary policy in Nigeria.
•Identify monetary policy tools in Nigeria.

Week

13

Module 3: Development Policies

4h

Unit 4: Operations of the Monetary Policy in Nigeria

2 study hours

•Analyze monetary policies in Nigeria.
•Ascertain the effectiveness of such policies.
•Evaluate and make contributions to monetary policy issues in Nigeria.

Unit 5: The Post Structural Adjustment Poverty Alleviation Strategies in Nigeria: The NEEDS

2 study hours

•State the vision, values, principles, goals, and macroeconomic framework of the NEEDS.
•Explain the framework for the implementation of NEEDS.
•Provide strategies for reforming government and institutions.
•Design strategies for growing the private sector in Nigeria.

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

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Study Tips & Exam Preparation

Expert tips to help you succeed in this course

1

Create a timeline of key economic policies and their impacts discussed in Units 4-5 of Module 1.

2

Practice analyzing macroeconomic data from Units 2-4 of Module 3 to predict policy outcomes.

3

Develop flowcharts illustrating the monetary policy framework from Units 2-3 of Module 3.

4

Compare and contrast the development theories from Units 1-2 of Module 2, focusing on their applicability to Nigeria.

5

Outline the objectives and challenges of development planning from Units 3-5 of Module 2.

6

Review the case studies on indigenization and poverty alleviation from Units 1 and 5 of Module 3, noting successes and failures.

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