PROGRAMME SUMMARY

Part	Semester	Module Code	Module Name	Credits
I	I	CEC1101 CEC1102 CEC1103 CEC2104 CAC1110	Communication Skills I Mathematics for Economists I Statistics for Economics I Microeconomics 1 Introduction to Financial Accounting IA	12 12 12 12 12
Total Credits Year I Semester I				60
I	II	CEC1206 CEC1202 CEC2204 CEC1204 CAC1210	Communication Skills II Mathematics for Economics II Macroeconomics I Statistics for Economics II Introduction to Financial Accounting IB	12 12 12 12 12
Total Credits Year I Semester II				60
Total Credits Year I				120
II	I	CEC2101 CEC1205 CEC2103 CEC4103 CEC2105 CFI2101	Quantitative Methods Introduction to Econometrics Monetary Economics Microeconomics II International Trade Theory and Policy Corporate Finance I	12 12 12 12 12 12
Total Credits Year II Semester I				72
II	II	CEC2201 CEC2202 CEC2102 CEC4203 CEC2205 CFI2201	Research Methods for Economics Computer and Statistical Analysis Microeconometrics I Macroeconomics II Macroeconometrics I Corporate Finance II	12 12 12 12 12 12
Total Credits Year II Semester II				72
Total Credits Year II				144
III	I & II	CEC3000	Work Related Learning Continuous Assessment Wok Related Learning Report	60 60
Total Credits Year III				120
IV	I	CEC4101 CEC4102 CEC2203 CEC4104 CEC4105 CEC4201	Development Economics Financial Economics Labour Economics Microeconometrics II Environmental Economics Agricultural Economics	12 12 12 12 12 12
			Year IV Semester I Total Credits	72
IV	II	CEC4202 CEC4204 CEC4205 CEC4206 CEC4200	International Economics Industrial Economics Health Economics Macroeconometrics II Research and Innovation Project	12 12 12 12 24
Year IV Semester II Total Credits				72
Total Credits Part IV				144
Overall Credits for the Programme				528

 

MODULE SYNOPSIS

CEC 1101 Communication Skills                                                                                              12 Credits                                                                      

This module will cover general comprehension and expression, report writing, comprehension of ideas, development of different styles and the use of English in a business setting, communicating skills, letter writing, committee documents, use of questionnaires, note taking, summarising. The module also covers effective communication – writing, design, and presentation skills; teamwork skills – effective communication in group settings and the use of social media and other technology platforms in effective and efficient communication.

 

CEC1102 Mathematics for Economists I                                                                               12 Credits

 

This module seeks to introduce students to the application of mathematical concepts such as set theory, matrices, vectors, integration, partial derivatives, differentiation and optimization theory to the business and economic environments. Students will be expected to grasp mathematical tools which are used for analysing data and to be able to accurately interpret it and apply them in decision making.

 

CEC1103 Statistics for Economics I                                                                                    12 Credits      

To introduce students to the statistical tools relevant for application to the business and economic environments. Students will be expected to grasp introduction to statistics, probability theory, probability distributions (discrete and continuous), and probability generating functions, joint probability distribution function, conditional expectation and central limit theory.

 

CEC2104 Microeconomics I                                                                                                12 Credits                                                                  

The module is designed to broaden and deepen the scope of basic microeconomics concepts covered in the first year Microeconomics module. The course will cover study areas such as micro economic models, equilibrium analysis, the optimization problem of the firm, the firm and the economy, consumer optimization, the consumer and the market, government and the individual, uncertainty and risk, welfare, principles of social judgment, strategic behaviour and information theory.

 

CEC1206 Communication Skills II                                                                                       12 Credits

 

This module will cover general comprehension and expression, report writing, comprehension of ideas, development of different styles and the use of English in a business setting, communicating skills, letter writing, committee documents, use of questionnaires, note taking, summarising. The module also covers effective communication – writing, design, and presentation skills; teamwork skills – effective communication in group settings and the use of social media and other technology platforms in effective and efficient communication.

 

CAC1110 Introduction to Financial Accounting IA                                                                 12 Credits

 

The module focuses on principles and techniques of Financial Accounting and their application to the preparation of financial statements of sole traders, partnerships, limited companies and non-profit making organisations. It is envisaged that the module will equip students with basic skills in compiling simple financial statements for different organizations.

 

CEC1202 Mathematics for Economists II                                                                              12 Credits                              

This module seeks to introduce students to the application of mathematical concepts such as optimisation, comparative statics, linear models, dynamic analysis, input-output economics and differential calculus. Students will be expected to grasp mathematical tools which are used for analysing data and to be able to accurately interpret it and apply them in decision making. Students will also be expected to able demonstrate a sufficient grasp of both linear and simple dynamic models of growth and decline of industries, economies, and institutions.

 

CEC2204 Macroeconomics I                                                                                               12 Credits                                                      

The module aims at exposing students to models of national income accounting, theories of national income determination, balance of payments and exchange rate systems, money and the price level, index numbers and inflation, business cycles, theories of fiscal, monetary and pricing policies, economic development strategies such as outward orientation, inward orientation, technology strategies and mixed strategies. It is also envisaged that this module will equip students with basic tools for modelling macroeconomic phenomena and processes.

 

CEC1204 Statistics for Economics II                                                                                    12 Credits                              

The students will be expected to understand and apply sampling theory, confidence intervals, hypothesis testing, ANOVA, ANCOVA, point estimation, and regression analysis as they relate to analysis and interpretation of data in order to make relevant business and economic decisions.

 

CAC1210 Introduction to Financial Accounting IB                                                                 12 Credits      

The module builds on the foundation laid in Accounting IA. The module aims at developing a thorough understanding of the practical framework of Accounting and an ability to prepare, analyse and interpret financial statements. The module covers the following areas of study: Accounting for limited companies, published accounts analysis and interpretation of final accounts, cash flow statements as well as latest developments of IAS applications in relationship to the areas covered.

 

CEC2101 Quantitative Methods                                                                                           12 Credits                                                      

This module will cover areas such as indices, exponents, logarithms and exponential functions, differential calculus, applications of differential calculus to economics – marginal analysis and elasticities, unconstrained optimization, applications of partial differentiation to real world situations, correlation theory and measurement and causation theory and measurement, application of matrix algebra and operations to optimization problems.

 

CEC1205 Introduction to Econometrics                                                                               12 Credits                  

This module will seek to ground students on the methodology of econometrics, single equation regression models, the classical normal linear regression model, multiple regression analysis, dummy variable regression models. The module will also cover topics on the violations of the assumptions of the classical linear regression (CLR) model such as multi-collinearity, heteroscedasticity and auto-correlation. 

 

CEC2103 Monetary Economics                                                                                           12 Credits                                                      

This course aims develop in students an understanding of economic theories which underpin knowledge of the monetary sector of the economy. The course will cover money demand models, theories of financial sector development, the theory of monetary policy and models of financial sector crises.

 

CEC4103 MICROECONOMICS II                                                                                          12 Credits                                                      

The main goal of this module is to equip students with a theoretical and empirical framework for analyzing dynamic behaviour of private and public-sector enterprises. The module will endeavour to cover areas such as types and frameworks of resource allocation, private/public sector firm behaviour under certainty and uncertainty and financial microeconomics. The module will explore methods of experimental economics. The main areas of the module to be covered will include basic concepts of game analysis, equilibrium analysis, and application of game theory to duopoly, decision making theory, bargaining, auctions, coordination games/Nash equilibrium, social preferences, learning experiments and matching theory.  

 

CEC2105 International Trade Theory & Policy                                                                       12 Credits                                                      

This course deals with the theory and practice of international trade and of trade-related policies. It focuses on analysing the gains from trade, the changing patterns of trade, the income distributional consequences of liberalising foreign trade, the relationship between trade, investment, and economic growth, and the reasons for and consequences of trade policies. The course relies predominantly on a standard collection international trade models to understand the motivations behind modern trade policies.

 

CFI2101 Corporate Finance I                                                                                              12 Credits                                          

The aim of the module is to identify the objectives that Corporate Finance managers pursue or ought to pursue in order to satisfy the needs of corporate stakeholders and to develop, in students, concepts and corporate analytical tools that will enable them to meet this objective. To this end, the course will cover the following critical areas: Goals of a firm and the agency theory; Time value concepts and valuation of bonds and shares; Capital Budgeting under certainty; Operating and financial leverage; Introduction to portfolio theory and capital asset pricing; the stock market and other sources of long-term capital; innovations in Corporate Finance.

 

CEC2201 Research Methods for Economics                                                                         12 Credits                  

 The module is designed to equip students with basic tools of qualitative and quantitative research used by economists in the modern world. Broad areas of study to be covered include basic research methods, sampling theory and its application to economics, sampling techniques such as simple random sampling, systematic sampling, stratified sampling, cluster sampling, multi-stage sampling and purposive sampling. The module will also cover questionnaire design and administration, errors in sample surveys and regression estimators.

 

CEC2202 Computer and Statistical Analysis                                                                         12 Credits                  

This module will broaden and deepen students’ data analysis skills using statistical packages such as SPSS, NVIVO, Stata, EViews, Oxmetrics, Shazam, PC Give, GNU Octave, Ploticus, the R programming language, ROOT, Salstat, SOFA Statistics, Chronux, Analytica, Gauss Programming Language, LIMDEP and LISREL to mention a few. A thorough knowledge of at least four of the afore-mentioned statistical packages will suffice to meet the requirements of this module.

           

CEC2102 Microeconometrics I                                                                                             12 Credits                                                                       

This module will seek to ground students on the distinctive aspects of microeconometrics, Structural Models, Exogeneity, Linear Simultaneous Equations Model, Identification Concepts, Single-Equation Models, Potential Outcome Model, Causal Modelling and Estimation Strategies. The course will also cover topics such as Microeconomic Data Structures, Introduction to Observational Data, Data from Social Experiments, and Data from Natural Experiments. The module will also introduce students to Regressions and Loss Functions, Weighted Least Squares, Median and Quantile Regression, Model Misspecification, Instrumental Variables, and Instrumental Variables in Practice.

 

CEC4203 Macroeconomics II                                                                                              12 Credits                                                      

This module has two main aims which are: first, to examine the theories and evidence related to the psychology of government and private sector decision making. The module will examine poverty alleviation and elimination strategies, taxation of wealth, environmental externalities and the role of subsidies in local and international economic contexts. Secondly, the module will examine economic growth theories with particular emphasis on the economic growth-inflation nexus, the role of financial intermediation and the impact of technology on economic growth. Third, the module will assess contemporary business cycle theories.

 

CEC2205 Macroeconometrics I                                                                                           12 Credits                                                      

This module will seek to ground students on topics such as ordinary least squares applied to economic growth theory, residual analysis, elements of distribution theory, inference in the context of the linear regression model, the restricted least squares estimator, and under-parameterization and over-parameterization within the context of misspecification. The module is also expected to introduce students to conditional and unconditional densities, stationarity, Autoregressive (AR) processes, moving average (MA) processes, Autoregressive Moving Average (ARMA) processes, Autoregressive Integrated Moving Average (ARIMA) progresses, forecasting models, and Vector Autoregressive models (VAR). The module will also introduce students to Vector Correction model (VECM).

 

CFI2201 Corporate Finance II                                                                                              12 Credits                                                                  

The module seeks to develop, further, in students, concepts and corporate financial analytical tools. The areas covered will include the following: Introduction to capital structure theory and practice; Cost of capital and valuation; Introduction to capital budgeting under uncertainty; Dividend policy theory and practice; corporate working capital management; and innovations in corporate finance.

 

CEC3001   Work-Related Learning                                                                                       60 Credits                                                     

A prescribed period of hands-on experience in a relevant industrial setting as defined in the NUST yearbook. This shall constitute the whole of Part III and shall involve production of the industrial attachment report, which will capture how the experiences of the student in a practical real-life industry-setting link with modules learnt in Part II and I.

 

CEC4101 Development Economics                                                                                     60 Credits                                          

The shall equip students with an in-depth knowledge of the economic development theories, welfare analysis, concepts of fairness, equity and efficiency, social welfare, social insurance, income taxation, firm and consumer behaviour under taxation, public goods, externalities, empirical strategies in public economics, poverty, inequality and optimal low-income support, global public finance and fiscal governance and political economics.

 

CEC4102 Financial Economics                                                                                           12 Credits                                                      

This module aims to cover basic concepts in multinational corporate finance namely, the corporate investment decision, the financing decision, term structure of interest rates, corporate bankruptcy, venture capital, mergers and acquisitions. The module will also seek to link firm’s financing, investment and pay-out policies with implications for corporate bankruptcy and takeovers.

 

CEC2203 Labour Economics                                                                                              12 Credits                                                      

This module covers the following topics: Human Capital and Wages, the Sources of Wage Growth, the Structure of Wages and Inequality of Earnings I, the Structure of Wages and Inequality of Earnings II, Unions and Minimum Wages, Statistical Discrimination and Employer Learning, Asymmetric Information in the Labour Market, Firm-Based and Apprenticeship Training, Tracked versus Comprehensive Schooling Systems, Social Interactions, Networks, and Neighbourhood Effects. The major objective of this module is to inculcate in students a deep understanding of labour market dynamics, the role of information and unionism in labour markets.

 

CEC4104 Microeconometrics II                                                                                           12 Credits                                          

This module builds on the foundational concepts covered in the first and second-year modules, namely, CEC 1203 - Introduction to Econometrics, CEC 2102-Microeconometrics I, and CEC 2205-Macroeconometrics I. This module is expected to ground students in the following key themes in microeconometrics - Maximum Likelihood and Nonlinear Least-Squares Estimation, Overview of Nonlinear Estimators, Extremum Estimators, Estimating Equations, Statistical Inference, Maximum Likelihood, Quasi-Maximum Likelihood, and Nonlinear Least Squares.  It is expected that students undertaking this course will also cover the following core areas of the generalized methods of moments (GMM) - Linear Instrumental Variables, Nonlinear Instrumental Variables, Sequential Two-Step m-Estimation, Minimum Distance Estimation, Empirical Likelihood, Linear Systems of Equations, and Nonlinear Sets of Equations. Students undertaking this module are also expected to sufficiently grasp key aspects of Semiparametric Methods such as Kernel Density Estimation, Nonparametric Local Regression, Kernel Regression, Alternative Nonparametric Regression Estimators, Semiparametric Regression, and Derivations of Mean and Variance of Kernel Estimators. This module will also cover the following key themes in limited dependent variable models - Binary Outcome Models, Logit and Probit Models, Latent Variable Models, Choice-Based Samples, Grouped and Aggregate Data, Semiparametric Estimation, Derivation of Logit from Type I Extreme Value, Multinomial Logit, Additive Random Utility Models, Nested Logit, Random Parameters Logit, Multinomial Probit, Ordered, Sequential, and Ranked Outcomes, Multivariate Discrete Outcomes, Semiparametric Estimation, Derivations for MNL, CL, and NL Models.

 

CEC4105 Environmental Economics                                                                                   12 Credits                                                      

The module seeks to develop in students an understanding of welfare economic treatment of environmental issues, theories of environmental policy instruments, international aspects of environmental issues, and the climate problem will be given particular emphasis. The module will cover elements of welfare economics, theories of environmental policy instruments, valuation of environmental goods, dynamic aspects of environmental issues, and international aspects of environmental issues.

 

CEC4201 Agricultural Economics                                                                                       12 Credits                              

The module introduces basic topics such as production efficiency and related concepts, agricultural and natural resource environment, food and consumer economics, production economics and farm management. The module aims at providing students with knowledge of farm management and basic agricultural economics analytical skills. This module will seek to equip students with a sound understanding of agricultural and resource economics and agri-business which entails agricultural price analysis and an examination of the marketing system for agricultural inputs, farm products, and processing and distribution activities with emphasis on cooperative marketing. The module will also seek to acquaint students with both theoretical and applied aspects of farm management. Specific topics will include farm planning, managerial control and acquisition and management of farm resources.

 

CEC4202 International Economics                                                                                      12 Credits                                                     

The module aims to introduce students to the main international trade theories such as absolute advantage theory, comparative advantage models, specific factors theory, Porter’s diamond of national advantage as well and technology models. International trade and international trade policy are considered under imperfect competition and uncertainty.  The module will also cover international economic integration and exchange rate systems. It is envisaged that this course will equip students with a sufficient grasp of international liquidity and how international bank intermediation impinges on economic development of nation states and the global economy.

 

 

CEC4204 Industrial Economics                                                                                           12 Credits                                                                 

This module seeks to develop in students an appreciation of firm and industrial economics. It is envisaged that the module will cover topics such as measurement and theories of industrial concentration, agglomeration and deglomeration of industries, financial constraints and firm performance, financial markets and banking, firm networks, income and employment effects of mergers and firm closures, innovation and productivity, innovation and trade, international industrial organisation, models of trade with firm heterogeneity, regulation and competition in networks. It is hoped that after completing this module, students will be able to analyse and accurately model the dynamic behaviour of modern firms.

 

CEC4205 Health Economics                                                                                               12 Credits                                         

This module covers topics such as health and mortality, the foetal origins hypothesis, socioeconomic status and early-life health in developing and developed countries, socio-economic status and adult health in emerging and advanced economies, child health in developing countries, health and economic growth, HIV/AIDS in developing countries, health systems around the world, demand and supply analysis of health care, moral hazard and adverse risk selection, economics of health insurance, obesity, alcoholism and drug related problems, macroeconomic and health care policies.  The main objective of this module is to enhance students’ awareness of basic theories that underpin health economics and the principles that govern modern health care systems. The module will also explore the impact of epidemics and pandemics (for instance, the COVID 19 pandemic) on economic growth and development.

 

CEC4206 Macroeconometrics II                                                                                          12 Credits                                                      

This module builds on the foundational concepts covered in the second-year modules of CBA2209 (Introduction to Econometrics) and CEC2203 Econometrics II. Topics such as basics of univariate time series, autoregressive (AR) processes,  moving average (MA) processes, Autoregressive Moving Average (ARMA) processes, Autoregressive Integrated Moving Average (ARIMA) progresses, forecasting models, Vector Autoregressive models (VAR), Vector Error Correction models (VECM), Structural VAR (SVAR), volatility models such as the Autoregressive Conditional Heteroscedasticity (ARCH) and Generalized Autoregressive Conditional Heteroscedasticity (GARCH) will be covered. The module will also cover big data analytics and data mining techniques that are relevant to the discipline of econometrics. Since the module is a practical one which can be used to model real-life relationships among economic and non-economic variables, it is envisaged that delivery will include conducting a mini-research project leading to a mini-project or semester paper.

 

CEC4200 Research and Innovation Project                                                                          24 Credits      

The Research Project will be done in the final year covering both semesters of Part IV. The module is meant to give students the opportunity to apply the knowledge gained over their study period. Students undertake research in an area of their choice in liaison with their supervisors to produce a project which has practical applications/solutions. The final project is expected to be of high quality with the potential of being revised and abridged for publication in reputable international academic journals of economics, finance, banking, marketing, statistics and mathematics.