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Overview
Course Code
Title
AGEC 212 Macroeconomics (Principles and Applications to Economy of Ghana)
Credit Hours - 3
Macroeconomics (Principles and Applications to Economy of Ghana)
Concept of an Economy, Definition of Macroeconomic Theory. National Income Accounting. Aggregate Output Function. Aggregate Labour Demand and Supply Functions. Consumption, Savings and Investment Functions. Money Demand and Supply Functions. Fundamentals of National Income Determination. Aggregate Demand and Supply Curves. Business Cycles. Fundamentals of Exchange Rate Determination. Fundamentals of the Causes of Inflation. Applications to the Economy of Ghana.
AGEC 211 Microeconomics (Principles and Applications to Households and Firms)
Credit Hours - 2
Microeconomics (Principles and Applications to Households and Firms)
Overview of Economics. The Economic Problem. Branches of Economics. Overview of Microeconomics: Nature, Use and Limitations. Concept of a Final Good. Concept of an Intermediate Good. Concept of a Market. The Market Mechanism. Shortage and Surplus in a Market. Effects of Demand and Supply Shift Factors on Equilibrium Quantity and Equilibrium Price. Final Goods Markets. Intermediate Goods Markets. Concept of Elasticity. Supply and Demand Elasticities for Final Goods Markets and Intermediate Goods Markets. Consumer Choice: Utility Curve, Utility Surface, Indifference Curve and Indifference Surface. Rate of Commodity Substitution. Budget Line. Consumer Equilibrium and Derivation of Consumer Demand Curve for Final Goods. Income and Substitution Effects. Producer Choice: Concept of a Production Function. Well-behaved Production Curves and Surfaces. Isoquant Curves and Surfaces. Marginal Rate of Technical Substitution. Production Elasticities. Isocost Curves and Surfaces. Objectives of Producers: Output Maximisation, Cost Minimisation, Profit Maximisation. Equilibrium of the Producer and Factor Demand Curves. Product Supply Curves and Surfaces. The Structure of Markets: Competition, Monopoly, Oligopoly and Monopsony. Agricultural Economics as an Applied Discipline. The Structure of Agriculture in Ghana. Government Policy and Agriculture in Ghana.