• No products in the cart.

This course is designed to assess students’ knowledge of basic economic principles needed for rational decision making relating to individuals, businesses, government, and society. Such knowledge is necessary for enhancing their appreciation of government economic policies, problems of implementation, and how they impact the economy. This will help candidates to understand that economics is not only an academic field of study but also a practical subject.


At the end of the course, students will gain

  1. knowledge of the basic economic principles, concepts, and the tools for economic analysis;
  2. understanding of the structure and functioning of economic institutions – commercial, agricultural, industrial and financial institutions;
  3. understanding of the basis for rational economic decisions;
  4. ability to explain the basis and structure of the West African economy, including the roles of agriculture, industry and mining and their contributions to the national income;
  5. ability to follow the role and status of the West African countries in international economic relationships;
  6. ability to appreciate the problems West African countries encounter in their economic development.


Course Curriculum

Definition and Scope of Economics
Definition of Economics 00:00:00
Scope of Economics 00:00:00
Scarcity and Choice 00:00:00
Scale of Preference 00:00:00
Opportunity Cost 00:00:00
Production Possibility Curve 00:00:00
Economic activities – Production, Distribution and Consumption 00:00:00
Classification of economic activities 00:00:00
Factors of Production
Meaning, Characteristics and Importance of Land 00:00:00
Meaning, Characteristics and Importance of Labour 00:00:00
Meaning, Characteristics and Importance of Capital 00:00:00
Meaning, Characteristics and Importance of Entrepreneurship 00:00:00
Types and Basic Features of Economic Systems
Capitalism – Types, Basic features, Advantages and Disadvantages 00:00:00
Socialism – Types, Basic features, Advantages and Disadvantages 00:00:00
Mixed Economy – Types, Basic features, Advantages and Disadvantages 00:00:00
Economic Problems of Society and the Approaches for solving them under each of the Systems 00:00:00
Basic Tools of Economic Analysis
Tables, Graphs and Charts 00:00:00
Basic Statistical Measures and Representations 00:00:00
Concept of Demand and Law of Demand 00:00:00
The Demand Schedules and Curve 00:00:00
Reasons for Exceptional Demand Curves 00:00:00
Types of Demand 00:00:00
Factors Determining Demand for Goods and Services 00:00:00
Concept of Elasticity of Demand 00:00:00
Concept of Supply and Law of Supply 00:00:00
The Supply Schedules and Curve 00:00:00
Types of Supply 00:00:00
Factors Determining Supply 00:00:00
Distinction between the shift of and movement along the supply curve 00:00:00
Concept and measurement of elasticity of supply and its importance to producers and government 00:00:00
Theory of Consumer Behaviour
The Utility Concepts 00:00:00
The law of Diminishing Marginal Utility 00:00:00
The Concept of Equilibrium of a Consumer 00:00:00
Determination of Consumer Equilibrium 00:00:00
The effects of changes in price on consumer equilibrium 00:00:00
The relationship between marginal utility and the demand curve. 00:00:00
Structure 00:00:00
Systems of Agriculture 00:00:00
Importance of Agriculture to the National Economy 00:00:00
Marketing of Agricultural Products 00:00:00
Agricultural Policies 00:00:00
Problems of Agriculture and Remedies. 00:00:00
  • $5
  • 60 Days

    GGL INSTITUTE © 2018 - 2022 All rights reserved.