The central problem of the world right from the medieval period to this present time is the allocation of man’s scarce and/or limited resources in such a way as to satisfy the unlimited wants of man. This has lead to rigorous study of man’s behaviour in relation to his attempt to find a rational solution to this problem. Economics is a discipline that is concerned with this study and it therefore focuses on the problem of allocation of scarce resources and individual cum government action(s) towards solving this problem as its subject matter using both theoretical and empirical economic principles. Much attention should be given to this course of study as it embraces all human endeavours.
To this extent therefore, the foundation underlying the economics as a programme is to produce graduates equipped with critical skills and abilities to abstract using simplified models that identify the essence of a problem, analyze and reason both deductively and inductively; marshal evidence, assimilate structure and analyze qualitative and quantitative data; communicate concisely the results to a wide audience including those with no training in Economics; think critically about the limits of one’s analysis in a broader socio economic context; and draw economic policy inferences and to recognize the potential constraint in their implementation.
Economics is a subject that is desired by all citizens either as producers or as consumers so that they would acquire knowledge of the economic system, how it works, and its application. The insight derivable from the study of economics not only frees the minds of the recipients from the shackles of destiny and chance events but also equips them with solutions to problems of our country. Further, it enables the development of critical thinking required for making logical contributions towards economic growth and development.
The department of economics envisions a modern department that will provide knowledge for students that have acquired critical minds necessary for national, regional and inter-regional development; a department of excellence in the use of ICT for research and production of quality graduates that are well adjusted, functionally efficient and proficient in the dissemination and application of knowledge of economics required for national development.
Our mission is to promote the development of a well balanced economics graduates through the use of qualitative and research oriented lectures that will positively enhance change required for an integrated national development.
It is the aim of the Department of Economics, Imo State University, Owerri, to produce graduates of rational thinking in economics who would be able, at the completion of their programme/studies to assume responsible positions in the various fields where sound knowledge of economics is required.
Quantitative analysis is of paramount importance in the study of economics as a course. This is to make students of economics become rational and functional economic analysts on graduation. Hence, the main objectives of economics as a programme of study are as follows;
• Provide training in the principles of economics and their application appropriate to the type of degree concerned: single, joint and combined studies;
• Stimulate students intellectually through the study of economics and to lead them to appreciate its application to a range of problems and its relevance in a variety of contexts;
• Provide a firm foundation of knowledge about the workings of an economy and to develop the relevant skills for the constructive use of that knowledge in a range of settings.
• Develop in students the ability to apply the analytical tools, knowledge and skill acquired to the solution of society’s economic problems.
• Equip students with appropriate tools of analysis to tackle issues and problems of economic policy.
• Develop in students, through the study of economics, a range of transferable skills that will be of value in employment and self employment;
• Provide students with analytical skills and the ability to develop simplified frameworks for studying the real world;
• Provide students with the knowledge and skills base, from which they can proceed to further studies in economics, related areas or in inter-disciplinary areas that involve economics; and
• Generate in students an application of the economic dimension of wider social and political issues.
A candidate through this mode must possess/obtain:
(a) A Senior Secondary School Certificate (SSSC) or G.C.E. ‘O’ Level with 5 credit passes including English Language, Mathematics, Economics and two other social science subjects in not more than two sittings.
(b) A satisfactory score in UTME (or the prevailing admission examination) in the year of admission.
(c) A satisfactory score in PUTME (or the prevailing University screening exercise) in the year of admission.
Candidates for Direct Entry admissions shall possess five credits in GCE, SSCE, NECO, or their equivalents, of which at least two shall be at Advanced Level, provided that such passes are not counted at both levels of the examination. For emphasis, credit passes in English Language, Mathematics and Economics are required. Other requirements include the possession of NCE, OND or its equivalents.