Major in Economics (BA)

Economists study how individuals, firms, and countries make difficult choices about how to use scarce resources to achieve their goals – be it individual welfare, firm profits, or national well-being. These choices are evaluated under a small set of powerful concepts: rationality, efficiency, equity, and stability. Economists model real-world situations and use deductive reasoning to arrive at the model's implications, and test the conclusions of the model empirically using statistical and analytical techniques.  The undergraduate curriculum in economics at AUN is designed to:

  • provide a solid foundation in modern economic theory
  • assist students in applying these theoretical perspectives to issues of economic efficiency, growth, globalization, equity and social justice, wealth and poverty, individual freedom, discrimination, cultural values, and the physical and biological environment
  • illuminate the interaction of the subject with related fields such as political science and finance, among others.
  • encourage critical and independent thought about economic policies and programs in an ever changing world order
  • develop the capacity to do quantitative analysis and research using statistical and mathematical techniques and
  • provide the students with a deep understanding of the evolution of economic, political and financial systems over time.

 

An undergraduate major in economics opens many possibilities for employment. These options include employment in:

  • financial institutions
  • businesses and corporations
  • local, state, and federal governments
  • financial consulting firms
  • non-profit and non-government organizations

 

In addition, there is potential for graduates to conduct post-graduate study and research.  Students of economics are trained in economic theory and empirical techniques, as well as in the application of economics to such fields as business, political science, and law. Therefore, they are well suited to pursue graduate education in economics or other subjects, both locally and abroad. Future employment possibilities for students entering graduate school include teaching and research in colleges and universities, as well as senior positions in industry and government.

 

To talk to a faculty adviser, please contact Dr. Natina Yaduma - Chair of the Department of Economics - at Room 217 Arts and Sciences Building, American University of Nigeria, or natina.yaduma@aun.edu.ng

 

The Economics major is comprised of 48 credits hours (16 courses). All students pursuing the BA degree in Economics must complete the following ten (10) courses:

 

  • ECO 210: Principles of Microeconomics (3)
  • ECO 220: Principles of Macroeconomics (3)
  • ECO 230: Introductory Mathematics for Economists (3)
  • ECO 310: Intermediate Microeconomics (3)
  • ECO 320: Intermediate Macroeconomics (3)
  • ECO 330: Foundations of Econometrics (3)
  • ECO 331: Econometrics I (3)
  • ECO 490: Senior Research Project I (3)
  • ECO 491: Senior Research Project II (3)
  • WRI 321: Preparation of Written and Oral Reports (3)

 

And at least two (2) of the following courses:

  • ECO 340: Development Economics (3)
  • ECO 321: Money and Banking (3)
  • ECO 350: International Trade (3)
  • ECO 351: International Finance (3)
  • ECO 430: Advanced Mathematics for Economists (3)

 

At least four (4) elective courses in Economics (ECO), 2 of which must be 300 level or above and 2 of which must be 400 level or above. Students are encouraged to consult with their Chair to identify appropriate courses to satisfy this requirement.

In order to fulfill the prerequisites for the required courses, students majoring in Economics are also required to complete the following two courses:

  • STA 101: Introduction to Research and Statistical Methods (3)
  • MAT 210: Calculus I (3) (formerly MAT 121)

Students majoring in Economics are advised to complement their Economics training by completing at least two (2) courses from one of the following lists depending on their interests:

 

Business

  • ACC 201 Principles of Financial Accounting
  • ACC 202 Principles of Managerial Accounting
  • ENT 325 Social Entrepreneurship
  • SEN 470 Engineering Economics 

Development

  • ENT 326 Microfinance and Economic Development
  • CDV 392 Advanced Applied Community Development 
  • ICP 135 Introduction to International Development
  • ICP 302 Politics of Development and Underdevelopment 


Finance

  • FIN 201 Fundamentals of Financial Management 
  • FIN 320 Financial Institutions and Markets 
  • FIN 330 Security Analysis 


Government and Politics

  • ICP 101 Introduction to Comparative Politics (3)
  • ICP 131 Introduction to International Relations (3)
  • ICP 161 Introduction to Political Theory (3)

 

Students interested in post-graduate studies in economics are strongly advised to take as many of the following as possible:

  • ECO 431 Econometrics II 
  • ECO 430 Advanced Mathematics for Economists 
  • MAT 211 Calculus II
  • MAT 310 Calculus III 
  • MAT 312 Linear Algebra 
  • MAT 412 Differential Equations 
  • STA 301 Probability and Statistics
  • STA 303 Non-Parametric Statistics
  • STA 304 Quantitative Methods in the Social Sciences

A minor in economics exposes students to economic theory and analysis.  Students minoring in economics must complete a minimum of 7 economics courses (21 credit hours). 

Economics minors must complete the following courses:                 

  1. ECO 210 Principles of Microeconomics (3)
  2. ECO 220 Principles of Macroeconomics (3)
  3. Eco 230 Introductory Mathematics for Economists (3)
  4. ECO 310 Intermediate Microeconomics (3)
  5. ECO 320 Intermediate Macroeconomics (3)

 

Additionally, students must complete six (6) credits with two 300 series or higher economics courses:

6.    ECO 3XX/4XX

7.    ECO 3XX/4XX

It is highly recommended that students complete ECO 331 (Econometrics I) as one of the two 300 or 400 series economics courses.

 

 

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