Economics is the study of the factors that influence income, wealth and well-being. From this perspective, it seeks to inform the design and implementation of economic policy. Its aim is to analyze and understand the allocation, distribution and utilization of scarce resources at both the individual (micro) and the aggregate (macro) levels. The study of Economics requires an understanding of resources, agents, institutions and mechanisms existing at the national and international levels since virtually no economy operates in isolation.

Philosophy Aims, and Objectives

The philosophy and mission statement underlying the Economics programmes of Nigerian Universities is to produce graduates equipped with critical skills and abilities to: abstract using simplIts subject matter relates with other subject areas such as Psychology, Politics, Sociology, Anthropology, Geography, History and Law. The objectives are to:

1. Identified models that identify the essence of a problem; analyze and reason – both deductively and inductively.
2. Provide training in the principles of economics and their application appropriate to the type of degree concerned: single, joint and combined studies;
3. Stimulate students intellectually through the study of economics and to lead them to appreciate its application to a range of problems and its relevance in a variety of contexts;
4. Provide a firm foundation of knowledge about the workings of an economy and to develop the relevant skills for the constructive use of that knowledge in a range of settings;
5. Develop in students the ability to apply the analytical tools, knowledge and skills acquired to the solution of societies’ economic problems.
6. Equip students with appropriate tools of analysis to tackle issues and problems of economic policy;
7. Develop in students, through the study of economics, a range of transferable skills that will be of value in employment and self-employment;
8. Provide students with analytical skills and the ability to develop simplified frameworks for studying the real world;
9. Provide students with the knowledge and skill base, from which they can proceed to further studies in Economics, related areas or in inter-disciplinary areas that involve Economics; and

Generate in students and appreciation of the economic dimensions of wider social and political issues