Overview

Credit Hours - 3

Research Methods, Statistics & Mathematics for Economists & Business

The scientific method of Enquiry in Business & Economics research; Basic and Applied Research; the Scientific Research Process; from proposal writing to dissemination of results; Data/Information Gathering; Methods of Data Collection; Sampling Techniques; Organizing Data for Analysis: Coding, Cleaning, Summary Statistics; Farming Systems Research; Economic Analysis of Agronomic Data. Nature of Statistics, Uses of Statistics in Economic and Business Research Models; Concept of a Random Variable; Probability Distribution Functions; Measures of Central Tendency; Measures of Dispersion; Moments of a Distribution: 3rd and 4th Moments (Skewness & Kurtosis); Concept of a model/Use of Economic models; Classical normal regression assumptions and estimation procedures of the Ordinary Least squares; Desirable Properties of estimators & Hypothesis Testing. Role of Mathematics in Economic and Business Research; Variables and Parameters, Domain of Variable; Concept of a Function: Explicit and Implicit Functions, Inverse Functions; Functional Forms: Linear, Quadratic, Cubic, Polynomial, Logarithmic, Exponential, Inverse, Semi-Logarithmic, Double Logarithmic (Log-Log) Functions; Equations: Solution of Linear, Quadratic and Cubic Equations; Matrix Algebra; Differential Calculus; Optimization Problems: Unconstrained and Constrained Optimization Problems; Integral Calculus

Credit Hours - 3

Microeconomic and Macroeconomic Theory

This course builds on courses AGEC 201 and AGEC 202. It presents the theoretical underpinnings of both macroeconomic and microeconomic phenomena. At the end of the course, candidates should be able to understand and explain economic phenomena using geometry, calculus and difference equations.  Candidates are also required to apply the theories learnt to the economy of Ghana. 

Introduction: Overview of the Nature of Scientific Theory. The Scientific Method of Enquiry. Methodology of Economics.  Nature and Purpose of Economic Theory. Concept of an Economy. Definition of Macroeconomic Theory. Definition of Microeconomic Theory. Concept of a Market. 

II. Microeconomic theory: Theory of Production.  Theory of Cost. Theory of Factor Demand. Theory of Product Supply. Theory of Consumer Demand. Consumer Surplus.  Producer Surplus.  Economic Welfare.

III. Macroeconomic theory: The Classical Theory of Employment and Aggregate Output. The Classical Theory of Inflation. The Complete Classical System. The Keynesian Theory of Employment and Aggregate Output. IS/LM Framework. Monetary and Fiscal Policy. The Keynesian Theory of Inflation. The Inflation-Unemployment Relationship. Structuralist Theory of Inflation. The Complete Keynesian System. The New Classical Macroeconomics:  Rational Expectations Theory. Theory of Business Cycles.

Credit Hours - 3

Project Analysis

This course is designed for students to develop the skill in analysing agricultural projects. The text focuses on the knowledge and skills that analysts need in the appraisal of agricultural projects. It presents the project concept, including: the classes and causes of poor project performance; the project cycle; setting up of a monitoring and evaluation system; aspects of project preparation; identification of project costs and benefits, measures of project worth, and mutually exclusive projects.

Credit Hours - 3

Farm Management

This course is designed for students to develop the skill in managing farms and other agricultural businesses (agribusiness). The text focuses on the knowledge and skills that analysts need in the management of farms and agribusiness. It presents the farm management concept, including: business management concepts; the farm management information; preparation of financial accounts; analysis of financial accounts; management accounts; farm budgets and control; and risk and uncertainty.