Below are the list of course for the M.Sc. Economics program for Ahmadu Bellow University. Click on the toggle buttons to read each course overview and then procced to download the course modules individually.
This course provides a forum for students to discuss and generate ideas on issues related to a variety of applied economic research. Students conduct an in-depth study of a research topic of their choice, discuss issues with experts in the field of research, work in discussion groups, debate and problem solve on selected issues. In the research seminar, the students are given an opportunity to integrate their knowledge, skills and practical experience gained in the program. The course covers the following; Current trends, practices and professional standards of applied research in different fields, i.e.: historical research, policy research and evaluation research.
Microeconomics has evolved very rapidly in the last few decades. Many new fields, which were peripheral a few years ago, have become central to the microeconomics literature. This presents important challenges for the teaching of a Masters level course in microeconomics. The core teaching of traditional Masters level textbooks is no longer sufficient to give an adequate theoretical training for students interested in following the contemporary literature. Moreover, to train students for research or to enable them to engage in policy debates must now involve a sound training in new concepts and theoretical tools such as game theory, the economics of information, property rights, and transaction costs.
The topics covered include Theory of Consumer Behaviour; Theory of Firm; Intertemporal Choice; Uncertainty and Risk; Market Structure; General Equilibrium and Welfare.
This is a follow-up on the first semester ECO 831 Microeconomics course. The second semester covers lively and relevant microeconomics modules that steer a course between the standard material of traditional microeconomics and the new game theoretic, information economics and other material, which is now central to the discipline. The topics covered include Market Failure, Game Theory, Oligopoly, Asymmetric Information, and Other Topics in Microeconomics.
This course is an advanced treatment of contemporary macroeconomic theory. Current controversies will be discussed as well as the relevance of theoretical and policy issues. It is structured to ensure that macroeconomic problems and analysis that are centrally important at the beginning of the 21st century are fully treated. Thus, the course gives prominence to the dynamic open-economy aspects of macroeconomics, including problems of policy credibility. Therefore it engages with both the mainstream of modern, advanced macroeconomics and the main characteristics of countries’ macroeconomic issues. It contrasts with traditional courses, which are organized around the counter position of Keynesian, and Classical (or monetarist) results in a comparative static, closed economy framework.
The topics covered include; Introduction (A review of the evolution of macroeconomics), Closed Economy Macroeconomics, Open Economy Macroeconomics, Consumption and Saving, Investment, Labour market and Unemployment.
This course is a continuation of ECO 833 taken in the first semester. It sheds more light on macroeconomic policy issues and covers the following topics: Economic Growth; Real Business Cycle; Inflation, Expectation and Monetary Policy, Financial Markets; Budget Deficit and Fiscal Policy
This course is in two parts. The first covers topics in Mathematics for Economists while the Second dart dwells on introductory aspects of Econometrics in preparation for the ECO 840 Econometric Theory and Practice. The topics are sequenced in two parts as follows:
Part 1. Mathematics for Economist: Matrix Algebra; Economic application of calculus and static optimization; Dynamic Analysis and Optimization; Introduction to set theory and real analysis.
Part 2 Econometrics: Review of probability and statistics; Classical linear regression; Simultaneous equation models; Time series analysis; Limited dependent variable models; Panel data analysis.
The course is about the development and functioning of financial markets. The aim is to acquaint students with the role of financial markets in both local and global economy. Topics covered include: Development Of Money And Financial Markets and Financial Flows Analysis; Intermediation; Economic Roles of The Different Financial Institutions; Determination of Interest Rates and Yield Curve Analysis in Financial Markets; Exchange Rates and Money Supply; Sources of Short-Term, Medium-Term and Long-Term Finance; Sources of Overseas Borrowing; Interest Rate And Exchange Rate Management; Performance of The Financial System; International Banking Regulation and Supervision; Trade Finance and Trade Facilitation Agencies; Country Risks Analysis; and Geographic Focus of Banking, Banking Risk Management, Credit Rationing Model, and the Banking (sub-Prime) Crises.
This course is aimed at providing students with an in-depth analysis of international economics. The course has the following objectives: Acquaint the students with analytical tools that economists use to analyse international economic interactions. Apply theories to different countries. Familiarize the students with important facts on the global economy and international economic institutions. The first part covers the following topics: Perfect Competition Models of Trade; New Trade Theories; International Trade Policy; Trade Policy and Economic Development.
Developing on the first semester ECO 837, this module focuses on international financial issues and the topics covered are as follows; Foreign Exchange Markets And International; Parity Conditions; Models Of Balance Of Payments Adjustment; Theories And Models Of Exchange Rate Determination; Open Economy Macroeconomics – Fiscal And Monetary Policy Under Different Exchange Rate Regimes; International Payments System; International Capital Movements.
This course aims to provide a sound foundation in the theory and practice of econometrics for economists. A distinctive feature of the course is its integration of the theoretical developments and practical data analysis. Economic examples in line with recent evidence are consistently used throughout the course to motivate and illustrate the subject matter. Extensive practical work using econometric software packages such as STATA, EVIEWS, GRETL, RATS, etc. is an important aspect of the course. The course consists of two parts and they are:
Part I Macro-econometrics: Overview of Classical Regression; Estimation Principles; Model Specification, Selection and Evaluation; Time Series Analysis, Financial Econometrics.
Part 2. Micro-econometrics: Panel data econometrics, discrete choice models; Limited Dependent Variables; Introduction to further topics (Duration, count data and treatment effect models).
The purpose of the course is to provide a comprehensive instruction in contemporary Financial Economics at an advanced level. The course will emphasise theoretical as well as the empirical aspects of each topic in the syllabus.
The course covers the following topics; Introduction to financial economics; Investment and Financial Markets; Financial Derivatives; Agency Problem and Financial Contracting.
This course is a continuation of the first semester ECO 841 and its aim is to provide students with the knowledge and expertise in fund management, stockbroking, investment banking, corporate treasury and other financial sector roles. It dwells on the following issues; Corporate Finance; Banking and Institutions; International Finance; Behavioural Finance; Financial Development, Financial Crisis and Financial Sector Reforms.
The purpose of this course is to enable the student to acquire sufficient knowledge of monetary theory and policy. The course content is designed to ensure that the state of the art of monetary theory is given sufficient exposition, while at the same time introducing sufficient doses of policy and empirical topics with special reference to developing countries. The course adequately prepares the student for advanced research in the area and policy analysis. The topics covered include Introduction: Issues in Monetary Economics; the Demand for Money; the Supply of Money; Money, Prices and Employment; Central Banking and Monetary Policy.
The second part of the monetary economics course taken in the first semester dwells on policy and institutional issues. The topics covered are outlined as follows: Financial Systems and the Economy; Financial Development and Economic Growth; Money in the Open Economy; International Financial Institutions and Global Economy; Financial Globalisation and Developments.
This module provides students with an introduction to quantitative and qualitative research methods and to the types of skills necessary for the planning, data gathering and dissemination stages economic research. It covers major Steps in Research; Application of appropriate advanced ICT tools for data gathering, analysis and presentation of the result; Drawing Inferences from Analysis; Grant Writing, Elements of project analysis; research design; methods of data collection; approaches to analysing data and writing a research proposal.
This is a Master’s level course in Public Sector Economics. The course covers: the role and size of the public sector, including the rationale for public sector interventions such as market and government failure and distributional concerns; public expenditure policy, including assessment of government social protection programs, public projects, public investment management, public-private partnerships, privatization and the role of the private sector in the production and provision of public goods and services. The topics are Introduction; Foundations of Public Economics; Market Failure; Government Failure; Externalities; Theory of Public Good; Public Choice Theory; Public Expenditure Theory; Public Investment Management.
The issues discussed in this follow up to ECO 847. The course dwells on key factors determining a nation’s fiscal architecture; public resource mobilization via user charges and taxation, including the economics of taxation, taxation of income, wealth, and consumption, tax incentives, tax compliance and enforcement, and tax reform. It also covers fiscal federalism and issues related to public debt, deficit financing and fiscal federalism. The topics covered are; Introduction; Theory of Taxation; Theory of Optimal Taxation; Tax Evasion and Tax Avoidance; Tax Policy, Structure and Administration; Fiscal Federalism; International Issues in Taxation; Public Debt.
This first part of this course focuses on advanced theories of economic growth and development while the second part focuses on the microeconomic aspect of development with particular attention to issues related to survey data analysis.
The topics covered include The Harrod-Domar model. The input-output technique and other aggregate models; Impact of industrial, commercial and agricultural policies; import substitution, export promotion, foreign aid, demonstration effects; The choice of planning techniques in national development plans: analysis of a number of planning models used in particular in Nigeria and other less-developed countries-successes and failures; Planning problems involving manpower demand and supply, regional development.
This is a follow-up on Development Economics I. The following topics are covered. Household and Demographic and Health Surveys. Poverty: Poverty as a multidimensional concept; correlates of poverty, measurement issues and survey data analysis; poverty alleviation and targeting; Income distribution: Inequality and various measurement issues; Gini-coefficient and Lorenz curves, Generalized Lorenz curves, generalized entropy index and decompositions; Analysis of pro-poor growth.
The course looks at the economic role of derivatives, valuation of derivatives, derivative trading strategies, and managing risk with derivatives. Topics covered include: introduction to derivatives: forwards, futures, swaps and options; Arbitrage, no-arbitrage and hedging; Interest rates and interest rate derivatives; The Black-Scholes formula and assumptions, Model calibration, Implied volatility, Delta-Gamma-Vega hedging, Greeks, Exotic options; Credit and credit derivatives; One-period Binomial model for option pricing; Multi-period models, Pricing via martingales, Binomial martingale representation theorem, Discrete time changes of measure; Trinomial models, Complete markets, Convergence of the binomial to the Black-Scholes model; Application of Ito’s formula, the Brownian martingale representation theorem and Girsanov’s theorem to derive the Black-Scholes formula; Commodities and Energy derivatives.
The course exposes students to the theory and mechanics of Asset pricing. The theoretical aspects covers choice under uncertainty (Expected Utility, Risk Aversion and Stochastic Dominance); Two-Period Consumption/ Portfolio Problems; Law of one price, No Arbitrage, and Stochastic Discount Factor(SDF); Pareto Optimality, Aggregation, and Consumption-Based Pricing Models; Mean-Variance Efficiency and the Capital Asset Pricing Model (CAPM); Relation between Consumption-Based Pricing Models, Stochastic Discount Factors, Betas, and Mean-Variance Frontiers; Asset Pricing in Multi-Period Securities Markets; Asymmetric Information in Financial Markets; strategic Trading with Information Asymmetry in Financial markets; Bid-Ask Trading with Information Asymmetry in Financial Markets; Competitive Trading Model with Information Asymmetry in Financial Markets; Market Frictions in Financial markets.
The practical aspect will involve the use of variety of econometric techniques, including GMM and maximum likelihood, as well as various time-series models to derive: 1. time-series properties of asset returns (predictability, volatility, correlations with other variables, etc.) 2. cross-sectional properties of asset returns implied by equilibrium asset pricing models (including CAPM, consumption-based asset pricing, factor models, etc.).
This is a supervised non-instructional course aimed at gaining student opportunity to produce research papers on subjects of their own. This module has two components: (I.) Proposal and (ii) Final Defence (Viva Voce).
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