## Course Description

(For the overall course structure and requirements, click here)

### SOEC 1513 Introduction to Economics

This course will cover some topics like what is Economics? The nature of economics; Definitions, major economic problems, scope and method, scope and methods of economies, subject matter, and laws of economies. Other topics are Partial and general equilibrium analysis; Statistics, dynamics and comparative statistics; Graphical illustrations; supply and demand; determinants of supply and demand; The laws of supply and demand; Market price determination by prevailing demand and supply, and the production possibility curve.

### SOEC 1523 Economic History

This course examines topics like; Pure-Marketing Economy, emergence of the market society, industrial revolution and impact of industrial technology, the growth of industrial economy with special reference to tropical Africa, 1800 to present. Other topics include business organisation and mobilization of capitals, population trends and migration, the social aspect of economy development and the development of West Africa.

### SOEC 1533 Introduction to Mathematics I

This course involves Mathematics and Economic Analysis: symbols, fundamental techniques in algebra; set theory; simple equations, simultaneous equations; exponents, logarithms, roots and the binomial expansions, linear algebra, matrices and determinants; introductory differentiation; partial differentiation and introduction to integration.

### SOEC 1543 Introduction to Mathematics II

Continuation of SOEC 153

### SOEC 1553 Fundamental of Accounting

This course covers Financial reporting by the manufacturing enterprises; introduction to partnerships accounts; introduction to limited liability company accounts; long term liabilities; accounting for non profit organisation; introduction to published financial statements; balance sheet; income statement; funds flow statement and introduction to incomplete records.

### SOEC 2513 Elements of Economics (Micro)

This course provides an introduction to the theory of consumer demands, theory of production costs; optimal output and pricing determination under conditions of competition and monopoly and allocation and pricing resources. Attention will be given to theories of perfect and imperfect competition.

### SOEC 2523 Elements of Economics II (Macro)

This course covers such areas as; measuring and explaining overall economics performance; national income and expenditures; money; interest rates; fiscal policy and monetary policy; as an analytical core. Attention will be given to basic theories in Macroeconomics; Stabilisation policy, elements of Growth theory; Inflation; and unemployment.

### SOEC 2533 Mathematics for Economists I

This course discusses Set Theory: set operations and laws, Cartesian product, relations and functions. Functions: Types limits and continuity, some basic economic functions. Matrix Algebra: Matrices, vectors, operations and laws, transposes, determinants and matrix inversion. Differentiation: Differentiability of a function, rules of differentiation, differentiation of non-algebraic functions, the implicit function rule, higher order derivatives.

### SOEC 2543 Mathematics for Economists II

The course examines: Differentiation: the partial derivative, total differentiation, Euler's theorem, the Adding up theorem, partial elasticities, and comparative static analysis. Optimisation: Optimum and extreme values, relative maximum/minimum for simple and multivariate functions, optimisation with subsidiary conditions, Optimisation over time, consumer choice under rationing. Integration: the reiemann integral, the fundamental law of Calculus, types of integrals, the exponential law of growth, Doma's capital expansion model, Pareto's distribution to differential and difference equations.

### SOEC 2553 Economic Statistics I

This course covers the nature of statistical enquiry; stages of statistical investigations; census and sampling; classification and presentation of data, descriptive statistics, measures of central tendency and dispersion; frequency distributions; Lorenz curves; index numbers the theory of probability; and the normal distribution

### SOEC 2563 Economic Statistics II

Topics under this course include: The nature of statistics enquiry; Descriptive statistics; Review of probability theory and normal distribution. Others include: The binomial distribution, sampling distribution of the mean and the proportion; Statistical estimation and distributions; Regression and correlation analysis and their applications to economics.

### SOEC 2573 Computer Application Laboratory (Statistical Tools) I

This course will introduce students to the use of modern computational software used in the academia and the industry alike. It will provide students with the ability to analyse economic data. Students will also learn how to make projections and forecasting using the software.

### SOEC 2583 Demographic Analysis

This course examines an introduction to applied demography or "demographics", the study of population structure and dynamics as these relate to practical decision making in business, government, or other organizations

### SOEC 2593 Empirical Analysis in Economics & Business

The application of statistical methods to economic data. Topics include: descriptive statistics, basic probability theory, discrete and continuous probability distributions, confidence intervals, hypothesis testing, simple and multiple regression, and time series.

### SOEC 3513 Intermediate Microeconomics

This course will discuss Theory of Consumer Behaviour: Theory of choice and the sovereignty of the consumer; Marginal utility analysis; law of diminishing marginal utility; the law of equi-marginal utility; Criticisms of consumption Curve (ICC); Price consumption Curve (PCC). Theory of Production: Revenue curves of the firm, Average and Marginal revenue curves, Cost Curves of the firm, total cost, average and marginal costs, Equilibrium of the firm; Firm's equilibrium under perfect competition and under monopoly. Price-determination: Pricing under perfect competition; pricing under monopoly; under oligopoly. Theory of General Equilibrium: Interdependence of prices; Importance of general equilibrium theory.

### SOEC 3523 Intermediate Macroeconomics

Topics to be covered under this course include: National Income Accounting: real output, price index and other statistics. Basic Macroeconomic model; the simple Keynesian model of income determination; and further analysis of the Keynesian model of income determination. Others include Consumption, Investment, the government sector and the foreign sector; Demand and supply of money; Equilibrium in the product and money markets; the balance of payment line; An analysis of monetary policy in the Keynesian system; Output; employment and inflation; Macroeconomic stabilization policies; and Introduction to growth economics.

### SOEC 3533/3542 Economy of Ghana I & II

This course will discuss the Micro and Macro economic structure of the Ghanaian economy. Discussions on the micro economic structure will be on Natural Resources, Human Capital, Physical Capital formation and Enterprises. The Macro economic structure will be discussed in the context of the country's External trade, Money and Banking, Public Finance, National Income and Economic Planning.

The course will also look at some general features of economies of developing countries, e.g., the economies of West Africa; how Ghana's economy reflects features of underdevelopment; an overview of the Ghanaian economy since 1957; ERP/SAP and the performance of the economy of Ghana; the HIPC initiatives, and NEPAD.

### SOEC 3573 Research Methods

The course examines different methods of acquiring knowledge, role of economic research, identification of a research problem and stating of research questions and hypotheses. Also review of literature, meaning, purpose and principles of research designs and the measurement design will be examined. The course further acquaints students with the method of data collection and analysis; descriptive and inferential statistics; interpretation of data and proposal and research writing.

### SOEC 3583 Monetary Economics

The course will survey commercial and central banking institutions and macro-relations between financial institutions; Macro-relations between financial organisations; and principle objectives of stabilization policies, and recent monetary policies.

### SOEC 3622 Computer Application Lab. (Statistical Tools) II

Continuation of SOEC 2573.

### SOEC 3633 Economics of Recreation and Sport

This course examines the role of economics in the consumption and provision of recreation and sport in today's society. Topics include demand estimation and forecasting, assessing the benefits and costs of recreation and sport events/facilities, pricing issues, and the role of government in the recreation and sport industries.

### SOEC 4503 Dissertation/ Project I

With the approval of the department, final year students may write a research projects report in lieu of a course in any of the sub-fields offered in the department.

### SOEC 4512 Advanced Microeconomics

This course will look at the relevant development in microeconomic theory: consumer behaviour and quality theory; production theory under perfect and imperfect competition; general equilibrium theory and welfare economics; and theory of choice and uncertainty.

### SOEC 4583 Advanced Macroeconomics

This course covers: policy issues related to inflation; unemployment; balance of payment; the exchange rate and growth within the context of macroeconomic models; the distribution between short-run equilibrium and the long-run equilibrium; issues from growth within a single asset and a multi asset economy and those which relate to open economies. : Modern portfolio theory and corporate Finance savings and investments; capital formation; Consumer behaviour towards risk; Financial effects of inflation; properties of financial instruments and Government policy regarding securities markets.

### SOEC 4533 Economic Development I

This course will look at Economic Development in detailed historical perspective; alternative theories of development; strategic development; and comparative analysis of developing countries of the world.

### SOEC 4523 Economic Development II

This course examines the developed planning and market process; programmes and policies for development resource allocation; investments criterion and technological choices; problems of employment; income distribution; population; agriculture and finance in economic development.

### SOEC 4553 Econometrics I

This course will look at definitions and scope of econometrics; correlation theory; the theory of simple linear regression model; the multivariate linear regression model; Gauss Markov theorem (BLUE); econometric problems; Autocorrelation; Heteroscendasticity and multicollinearity. Tests of significance in regression analysis: F and t distribution, statistical decision, pay off, and Bayesian decision. Theory of Index numbers and application to retail prices, industrial production, wages, exports and imports and Population and statistics

### SOEC 4543 Econometrics II

The content of this course are: estimations and discussions of blue of linear regression model using matrix notation; simultaneous equations: methods and problems; selected applications; Distributed LAG models; Arch and GARC model; VAR and related areas; Cointergation; Time series; and Dummy variables.

### SOEC 4563 Economic Systems Modeling

This course explores the dynamic processes in economic systems. Sections cover methods for dynamic modeling in economics, microeconomic models of firms. Attention will be given to chaos in economic models. Using STELLA and MADONNA software, applies methods of computer modeling to real-world economic phenomena.

### SOEC 4573 Economic Thought

This course looks at: the Mercantilists model; the Classical school with emphasis on Adam Smith's thought process; the roots of the laissez-fair economy and capitalist rationality; classical political economy; Utopian Socialism; Marx's critique of the classical political economy; Margalism; General equilibrium; and the Marchalian summation. Other topics include: the Keynesian revolution-developments in macroeconomics and the review of interest in growth models and the recent controversies in capital theory; the neo-classical synthesis; Monetarism; post-Keynesian and contemporary criticisms, including the new left and modern socialist thought; Economic theories in other social sciences-specifically economic anthropology and economic sociology; the theory of transition in scientific thought and economic models and Counter-factual hypothesis and quantitative estimation under limited data situations.

### SOEC 4603 Dissertation/ Project II

Continuation of SOEC 450. Students may produce an 8,000 or 10,000 - word dissertation depending on the nature of the project or research.

### SOEC 4623 Industrial Economics

This course involves an examination of behaviour of firms, market structures, and economic performance. Some of the topics include: how firms compete, the role of entry barriers, innovation and competitiveness, trade and industrial policies, economic regulation and de-regulation, public enterprise and competition policy.

### SOEC 4642 Labour Economics

This course covers the economic analysis of labor markets including labor supply, investment in human capital, labor demand, and wage determination. Policy issues include labor unions, discrimination, and analysis of government programs affecting labor markets in Ghana. Economic modeling is used to further an understanding of such topics as poverty, labor relations, collective bargaining, workforce training and education, and the role of human resources in global competition. Attention will also be given to an application of economic theory to the relations of labor and business.

### SOEC 4653 International Economics

This course applies the theoretical ideas and analytical skills developed in the core first and second year microeconomic modules and some quantitative techniques. In particular, general equilibrium analysis is used extensively in international trade theory. The module examines the measurement issues associated with development concepts and their implications for assessing alternative policies for developing countries.

### SOEC 4683 Managerial Economics

This course emphasises the practice and use of economic principles in solving business problems. Areas covered include uncertainty, forecasting, demand analysis, and capital management

### SOEC 4723 Public Sector Economics

This course examines a number of issues relating to the reasons for, and consequences of, public expenditure and taxation. The approach taken is analytical and students are expected to be comfortable with standard techniques such as optimisation subject to constraint. It deals with public revenues, the theory of taxation, institutions and problems of the revenue system as a whole, and the effects of the taxing, spending, lending, and borrowing by government units upon the national income and employment.

### SOEC 4733 Natural Resource Economics

The economic and public policy considerations associated with the exploitation of renewable and non-renewable natural resources - the environment, fisheries, forests, minerals and energy are examined using the tools of economic analysis.

### SOEC 4743 Economics for Financial Markets

This module examines economic theories of financial market behaviour and discusses strategies for evaluating their empirical relevance. The course considers a variety of topics, which can vary from year to year. Topics covered include: Models of Asset Pricing, Measuring Portfolio Performance, Asset Valuation Theory, the efficiency of Financial Markets, International market integration and the microstructure of financial markets

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(For the overall course structure and requirements, click here)