COURSE CODE: AEM 102
COURSE TITLE: Principles of Economics
NUMBER OF UNITS: 2 Units
COURSE DURATION: Two hours per week
Course Coordinator: Prof. (Mrs.) C.A. Afolami, B.Sc., M.Sc., PhD
Office Location: Agric. Econs & Farm Mgt. Department, COLAMRUD
Other Lecturers: Dr. S.A. Adewuyi, Dr. O.F. Ashaolu, Dr. A.E. Obayelu, Dr. Soji Vaughan
Definition of economics; The economic problem: the problem of scarcity, production possibility frontier, principle of increasing costs, scarcity and the market system; Micro economics: demand, supply, equilibrium price, shifts in supply and demand, government and price determination; Macro economics: gross domestic product, aggregate demand, aggregate supply, equilibrium output, unemployment, inflation, national income, consumption investment and net exports, money and banking.