DEPARTMENT OF ECONOMICS & BANKING FINANCE

Emmanuel O. ADEGUN, M.BA., FCA., ACIB.
Head of Department

ACADEMIC STAFF

Emmanuel A. ADEGUN, MBA, ACA., FCA        - Senior Lecturer Economics & Finance
Rasaki O. ODUOLA, MA, PhD         - Senior Lecturer in Economics
Prince O. DIDIA, MA, MPhil., PhD.        - Associate Professor in Economics
Goodluck N. OKEZIE, MBA, M.Sc        - Lecturer I in Economics
Andy, T. OKWU, MSc                                                - Lecturer II in Economics
O.B. OLUWALAIYE, MSc        - Lecturer II in Economics
A. BABALOLA, MSc        - Lecturer II in Economics
G.O. AWOLAJA, MSc        - Assistant Lecturer in Economics
A.O. SOKEFUN, MBF        - Assistant Lecturer II in Banking & Finance
Oviku SIEMURI, BSc.         - Graduate Assistant
O. Juliet ONONGHA, BSc.         - Graduate Assistant
A. K. Fayehun, MBA.         - Lecturer I in Banking & Finance

ADJUNCT STAFF:

Akintola BELLO,         - Professor of Finance
O. IGE, PhD.           - Professor of Economics
S.I. OLADIMEJI,         - Professor of Economics
M.A. OGUNDIPE,         - Lecturer in Economics
S. OWUALA,         - Lecturer in Economics

MISSION STATEMENT
The Department, borne out of the University passionate quest to positively impact both the academic and professional vocation of Economics, Banking & Finance in Nigeria and beyond.  We are to contribute decisively in meeting the qualitative manpower needs of local and global  industries, public and private sectors and non-profit organizations through ethical research and functional applications.

OBJECTIVES
The Department of Economics & Banking Finance offers courses leading to the award of the Bachelor of Science degrees (B.Sc. Hons) in the areas of Economics as well as Banking and Finance.  The objective of our B.Sc. Degree programs is to prepare students for productive careers in business organizations and enterprises, (including Blue-chip and multinational organizations), academic and Research.

FACULTY REQUIREMENTS:
Students in this Department are required to complete between 12-15 faculty credits - in the areas of Business Communications, Business Management, Mathematics, etc.

DEPARTMENTAL ADMISSION REQUIREMENTS
Candidates must have obtained 5 credits at not more than two sittings in five subjects including English Language, Mathematics, Economics, and any other relevant social science subject at SSCE or GCE Ordinary Level.

MINIMUM REQUIREMENT FOR GRADUATION
The program is planned over a four-year period consisting eight semesters.  Each semester consists of 17 weeks of formal teaching, peri-curriculum instruction and assessments.  Each 3-unit course includes a scheduled mandatory 1 hour tutorial per week.  The general requirements  for graduation include the following:
(i)    The completion of a minimum of 144 credit units including core, elective and general education courses.
(ii)   A minimum of 24 credits courses outside the department.
(iii)  Complete, report and defence of a research project supervised by a Staff Project Supervisor.
NOTE: Chapel Seminars are compulsory each Semester for Citizenship but not computed with Semester Academic Load since grades are computed with an “S” or a “U”.

BACHELOR OF SCIENCE (B.Sc. Hons) - ECONOMICS

COURSE DESCRIPTIONS

ECON101        PRINCIPLES OF ECONOMICS I      2 Credits
An introduction to the various issues in economics, the nature of economic science, the methodology of economics, major areas of specialization in economics, stressing historiacal development  of ideas, elementary principles of micro and macro-economics, current issues of interest in Economics and probable future developments.

ECON102       PRINCIPLES OF ECONOMICS II                2 Credits
Knowledge of basic concepts of economic principles; concepts and tools for economic analysis.  Knowledge of the structure and functioning of economics institutions and various economic systems; national income accounting; the functions of money and policies for controlling inflation, the problem of business cycle.

ECON111        INTRODUCTORY MATHEMATICS FOR ECONOMISTS I          2 Credits
Mathematics concepts in Social Sciences. Set Theory and applications, surds. Polynomials up to degree 3 and their factorization. Exponent, Indices. Logarithims. Equations and functions Linear, quadratic, cubic, etc.. Simultaneous equations, Trigonometry.  Series and sequences.  Inequalities. Matrices; types operations with Matrices, determinations and increase of a Square Matrix and Simultaneous equations.

ECON112        INTRODUCTORY MATHEMATICS FOR ECONOMISTS II         2 Credits
Introduction to Calculus differentiation, integration of exponential Logarithmic and trigonometric functions.  Inverse trigonometric functions.  General input functions.  Economic applications of differentiation.  Integration.  Exponential logarithmic and trigonometric functions.  Definite and indefinite integrals;  Economic applications.. Permutation and combinations.

ECON121        INTRODUCTION TO STATISTICS I                        2 Credits
Definition and scope of Statistics. Use of statistics in everyday life.  Levels of statistical measurement in Social Sciences.  Types and techniques of data presentation.  Sources and nature of published statistical data in Nigeria, their uses and limitations.  Methods of collecting data - census and surveys.

ECON122       INTRODUCTION TO STATISTICS II                     2 Credits
Population and sample.  Population parameter and simple statistic.  Measurement of central tendency and dispersion for population sample.  Probability distribution functions and their comparisons.: Bernoulli, Poisson, Exponential, Uniform and Normal
Distributions.  Simple Test hypotheses.  Simple Correlation and regression analysis.  Index number, etc.

ECON201       PRINCIPLES OF MICRO -ECONOMICS I             2 Credits
Micro-economic theory, problem of scare resources and allocation of resources in product and factor markets with application to Nigerian and other economies; equilibrium concept, possibility of disequilibrium, partial and general equilibrium analyses.  Demand and Supply theory.  Concept of elasticity; types, numerical value of elasticity coefficient and interpretation.  Applications.

ECON202       PRINCIPLES OF MICRO-ECONOMICS II             2 Credits
Cobweb theory.  Introductory dynamics.  Consumers behaviour.  General equilibrium of exchange.  Production theory.  Cost curves.  Perfect competition, Imperfect competition, monopoly and monopolistic competition.  Output and price determination under perfect and imperfect markets.  Pricing of production factors.  The theory of comparative costs.

ECON211, 212 PRINCIPLES OF MACRO-ECONOMICS I,II         2,2 Credits
Macro-economic theory, national income accounting, macro-economic aggregates, the classical system, the Keynesian system, the monetarist system, domestic economic stabilization, monetary and fiscal policies, price control and inflation.

ECON 221, 222    HISTORY AND STRUCTURE OF THE NIGERIAN ECONOMY I, II      2, 2 Credits
Analysis of development in the pre-colonial and post colonial periods with regards to development of economic and social organization; Role of Agriculture, Industry, monetization, banking and international trade in Nigerian economic development.  Growth of income employment, wages and prices. Public development institutions. International Income and Expenditure monetary and Fiscal Policies; Monetary Institutions. Trade, transport system.  Contributions of sectors of the Nigerian economy to national output relationship between these sectors.  Role of national institutions.  Economic development and social change.

ECON231, 232            HISTORY OF ECONOMIC THOUGHT I, II           2,2 Credits
Comparative survey and assessment of development in economic thought.  Ideal of the early Christian fathers; Islamic ideas on economic activity.  Classical economics; Neoclassical School of Thought; positive and welfare schools of economic thought; institutional economics, Keynesian school of economic thought; Evolution and contemporary state of development in economic.  Marginalists and modern schools of economic thought. African economic ideas.  Future prospects.

ECON242       MONETARY ECONOMICS                          3 Credits
Framework for monetary analysis.  Definition, origin, kinds and function of money. Demand and Supply of money.  Expansion and contraction of money by banks.  Theories of interests rate.  Inflation as a monetary phenomenon.  Financial institutions: bank and non-bank.  Recent development in monetary thought.  Monetary policy.

ECON251       LABOUR ECONOMICS                     2 Credits
Nature of labour problems in developing countries. Labour force; definition and concept.  Determination of sizes and composition of labour force; concepts of unemployment, industrial and occupational distribution of labour force.  The informal sector and the modern sector.  Labour Market Theories.  Economics of wage determination. Features of the Nigerian Labour market.  Manpower development.

ECON261       MATHEMATICS FOR ECONOMISTS                                2 Credits
The derivates of trigonometric function sequences and series expansions.  Taylor’s theorem.  Mathematical analysis of basic theories of economics. Partial and total derivatives differentials and differences equations. Application of partial derivatives. Matrix.  Simultaneous linear equations introduction to linear programming.  Input-output analysis, etc..

ECON301, 302            INTERMEDIATE MICRO-ECONOMICS I, II                   2,2 Credits
More advanced and mathematical treatment of micro-economic theory with incorporation of linear programming, advanced price and output determination under perfect competition, oligopoly, monopoly; exchange theory, offer curves and contract curves; introduction to capital theory and production function types.

ECON311, 312 INTERMEDIATE MACRO -ECONOMICS I, II                            2,2 Credits
Concept of national income, classical Keynesian and monetarist systems compared.  Problems of unemployment and inflations, IS - LM analytical apparatus in discussion of relative effectiveness of monetary and fiscal policy.

ECON321, 322            PUBLIC POLICY/PUBLIC SECTOR ECONOMICS               2,2 Credits
The concept of public sector.  Pricing, investment and financing of public sector enterprises.  The public sector and economic development.  Analysis of selected public policies.

ECON331       ECONOMIC  DEVELOPMENT PLANNING                   3  Credits
The rationale for planning.  Planning origins, types and performance.  Planning machinery.  The planning process.  Planning decision models.  Planning data.  Objectives and policy formation.  Plan implementation.  Development planning in Nigeria.  Development and under-development.  Economic and non-economic factors in development experience.  Survey of development theories.  Natural endowments.  Human resources.  Structural transformation.  Trade and aid costs prices.

ECON332       NIGERIAN PUBLIC FINANCE                                          2 Credits
The development in Nigerian Federal Finance.  The main issues in federal finance structure of public revenue.  Structure of public expenditure.  Inter-governmental transfer, regional state revenues.  Problems of public debt in Nigeria.  Budgetary process of Nigerian government.

ECON341       OPERATIONS RESEARCH                                                  3 Credits
Applications in economic analysis and in real life, linear programming, non-linear programming, game theory, queuing models, Markov Chains, and simulation.
a)  Definitions, origin, development of operational Research, usefulness and limitations, modeling in Operation Research.
b) Decision analysis.
c)  Mathematical Programming  - Concepts, Formulation, Analysis and  application of:
(1) Linear and non-linear Programming
(2) Dynamic, integer and Goal Programming
(3) Theory of Games; Two-person, Zero-sum features and limitations.
(4) System Models  - System dynamics, advanced simulation.
(5) Queuing Theory and Application:
(6) Theory of Stochastic Process.
(7) Theory of queues.

ECON342       INTRODUCTORY ECONOMETRICS                               2 Credits
Definition and Scope of Econometrics.  Econometrics and Mathematical Economics Econometric research methodology.  Stages in an econometric research. Properties of an econometric model.  Correlation and regression analysis.  Measure of linear correlation.  Numerical values of the correlation coefficient.  Sample correlation coefficient.  Spearman Rank correlation coefficient.  Partial correlation coefficient.  Test of significance in correlation.  Regression Analysis.  Definition of regression.  Simple linear regression model.  Relationship between price elasticity of supply and its coefficient.  The random term and its function.  The assumption of the random term.  Distribution of the dependent variable Y.  Least Square criterion and Normal equation of OLS.

ECON351       APPLIED STATISTICS I                                                      2 Credits
Tests of hypothesis.  Confidence intervals.  Time series analysis index numbers.  Major  sources of data (Primary & Secondary). Questionnaires and their design.  Further sampling techniques.  Point interval estimation.

ECON352       APPLIED STATISTICS II                                                     2 Credits
Probability and set theory. Rules of probability.  Probability density functions.  Expected values.  Moments and moment generality functions.  Probability distributions.  Bernolli, exponential, Poisson, Uniform, normal a Chi Square distributions, and their applications.

ECON361       RESEARCH METHODOLOGY                                           3 Credits
Definition of research; the role in development, the uses of different statistical procedures including survey methods correlation and regression and regression analyses.  Concept and use of mathematical programming definition and scope of economics; stages of economic research; simple linear economics model and ordinary least square estimator, multi-collinearity.  Auto-correlation home-elasticity and hetero-elasticity and simultaneous equation models and the two stages;  least-square identification problem.

ECON362       INTERNATIONAL TRADE THEORY                              3 Credits
Introduction to the theory of trade and international finance incorporating presentation of various theories of international trades foreign protection, economic integration, balance of payments, foreign trade protections, economic integration, balance of payments, foreign capital flows; the uses of international economics in explaining contemporary international relations and diplomacy.

ECON401       ADVANCED MICRO-ECONOMICS                                  3 Credits
Fundamental quantitative relationships.  General equilibrium and disequilibrium.  Dynamic analysis, value theory production functions, duopoly, oligopoly, bilateral monopoly and monopsony.  Theories of determination of wages, rent, interest and profit.  Optimization in theories of consumption and production.  The notion of economic efficiency.  Efficiency and equity.  Externalities.  Social and private costs.  Pareto optimum. Social welfare functions.

ECON402       ADVANCED MICRO-ECONOMICS                                   3 Credits
Basic model of income determination.  Extension from simple closed economy to a four-sector economy.  Detailed theories of consumption and investment functions.  The classical Keynesian models of employment, and output.  Capital theory.  Theories of money, prices and interest.  Introduction to models of economic growth.  Macro-economic policies and optimal allocation of resources.

ECON411 & 412   ECONOMIC  PLANNING  I & II                                 3, 3 Credits
-    Study of Economic Sectors
-    Models of Economic theories and planning
-    Theories of Economic growth/development and planning.
 -   Analysis of NEEDs document and applications
-    Practice of economic growth/development and planning.

ECON421       PROJECT EVALUATION                                                    3 Credits
Definition and classification of projects and project evaluation.  The project and the overall view of development program Data requirements.  Location and size of projects.  Calculation of investments required for a project.  Evaluation of projects.  Appraisal of projects from commercial and social view points.  Cash flow analysis.

ECON422       ECONOMETRICS                                                                2 Credits
Extensions of the two variable linear model; introduction to matrix algebra and algebra in models estimation; the General Violations of linear model assumptions and the correction of serial correlation (auto correlation) of the errors, inter-correlation (multicollinearity) of the variables, stochastic regressions and errors in variables; identification problem; meaning, detection and correlation; simultaneous models and estimations; K-clars estimators and the choice of estimators.  Practical solution of problems and familiarity with the computer to be nurtured and encouraged.

ECON451       TAXATION AND FISCAL POLICIES                                3 Credits
Nigerian system of Income Tax Administration; structure and procedures, returns, assessments, appeal, postponement, collection; with reference to all necessary legislation.  Distinction between the taxation of Capital.  Personal Income Tax: the law and practice of Income Tax relating to individuals, exemptions, settlements, trusts, and estates.   Partnership assessments, treatments of losses.  Computation of assessable income:  commencement and cessation of trade or business.   Company Tax  - the principles and scope of Company Tax.  The small company provisions including definitions, computations and exemptions.

ECON461       PETROLEUM ECONOMICS                                                          3 Credits
The early and modern structure of World oil market; the evolution of OPEC control oil as the ’swing fuel’ in the energy industry market; detailed treatment of the other conventional sources of energy viz, coal, hydro, gas, forests etc.  Non-conventional sources of energy viz; solar, nuclear, biogas, geothermal, waves, tar sands etc.  Future energy demand and supply in Nigeria.

ECON462       LABOUR  ECONOMICS & INDUSTRIAL RELATIONS   3 Credits
The concept of industrial relations.  Trade Union Characteristics.  Industrial Relations Laws in Nigeria.  Types of Unions; Internal Structures and Government of Unions; Trade Union Federation; Central Labour Organization and International Affiliations; Union Solidarity and Check-Off systems.  Collective Bargaining; Industrial Disputes; Dispute Settlement; Joint Consultation; The State and Industrial Relations.  Comparative Industrial Relations.

ECON 371      FINANCIAL INSTITUTIONS                                                          2 Credits
-    Money & Capital Markets
-    The process of Financial intermediation
-    Traditional or informal financial intermediaries
 -   International Financial Institutions and Intermediation

ECON499       RESEARCH PROJECT                                                         6 Credits
Independent stuy of a management topic approved by the department under the supervision of a lecturer in the department.

FNCE211         PRINCIPLES OF FINANCE                                                            2 Credits
The nature of risks; the limited liability company.  The firm and its objectives.  The objectives of financial decisions.  The finance function, investment, financing and dividend.  Financial management as tools for planning and control of company operations.  Principles of planning and control.  Financing business.  Sources of finance: short term, medium term, long term.  The stock market; functions, meaning of market price, market value and market participants. Information available to investors: economy, industry, and company information. Understanding company financial information: ratio analysis, mechanics of discounting  Compound Interest, present value, annuities, terminal value and perpetuities.

FNCE432        INTERNATIONAL BANKING & FINANCE                      3 Credits
Correspondent Banking: Use of mostrovostro accounts, means settlement; Travel and electronic money transfers facilities.  Nigerian foreign exchange system and market; International foreign exchange system and market; Exchange rate mechanism. Types of exchange rate markets; future and forward rate, exchange rate movement and risks;  hedging techniques commodity exchanges; off share investment, measuring of the risks of international investments; international financial markets and center; international financial instruments and securities; methods of raising issues in international  market; the role of SEC in international investment.

NON-DEPARTMENTAL COURSES

ACCT 101        PRINCIPLES OF ACCOUNTING I                                                3 Credits
History and Development of Accounting.  The nature and scope of accounting, the role of accounting, users of financial statement; introducing statement of Accounting standard 1 & 2 (S.A.S. 1 & 2), the accounting functions and its relationship with the information system of organizations, accounting procedure and systems, Basic documentation process, double entry book-keeping system, the trial balance, Accruals, Pre-payments and adjustments, Books of prime entry and recording in the ledger, classification of expenditure entry and recording in the ledger, classification of expenditure between capital and revenue items, methods of recording accounting data; manual and mechanical, bank reconciliation statement, preparation of debtors and creditors statement.

Accounting for fixed assets acquisition, depreciation, disposal and fixed assets schedule, extended trial balance and correction of errors using suspense ac count, extended trial balance and correction of errors using suspense account and journal, final account of a sole trader.  Any other topical issue.

ACCT 102        PRINCIPLES OF ACCOUNTING II                                    3 Credits
Reserves and provisions, payroll accounting, preparation of final accounts, manufacturing, trading, profit and loss accounts, balance sheet for sole-proprietorship; partnership and limited liability companies, partnership agreement, preparation of final accounts.  Preparation of income and expenditure accounts and balance sheet or statement of affairs for non-profit making organization.  Preparation of final accounts from incomplete records, simple joint venture accounts and others.

ACCT 202        FINANCIAL ACCOUNTING II                                            3 Credits
Company accounts, formation, issue and redemption of shares and debentures, final account for internal use & publication including cash flow/fund flow statement.  Five year financial summary, value added statement etc. including statutory requirement of company accounts in respect to each area; miscellaneous accounts; joint venture, royalties, consignment, farmers, Goods on Sales or return, departmental accounts, branch accounts (Home/Local branches), solicitors accounts, voyage, underwriting, cooperative accounts, any other topical issue

BSAD101         PRINCIPLES OF MANAGEMENT I                                  3 Credits
Defines and explains the nature of business; Teaches students to understand the nature of the business environment and its relevance for policy decisions to be made by the management of any organization.  The basic concepts, principles and techniques of management.  Apply the concepts, principles and techniques in the solution of management problems.

BSAD102         PRINCIPLES OF MANAGEMENT II                               3 Credits
Examines the four elements of the management process: planning, organizing, leading, and controlling.  Identify principles to assist managers in adapting these elements to fit a variety of situations and enterprises; Reviews methods to improve the quality of managerial decisions in small and large, profit-seeking and not-for-profit organizations.  Topics include management as a discipline, alternative organizational models, effective decision making, mission and strategy, operational strategy, and adaptive planning.
Prerequisite: BSAD101 Principles of Management I

PLSC142          INTRODUCTION TO SOCIOLOGY & ANTHROPOLOGY        3 Credits
Introductory analysis and description of social structure and dynamics of human society. Sociology, Anthropology and other social sciences. Social structure and institutions, problems of social organization, population, society as well as collective behaviour, social movements and ideologies. Use of sociology and Anthropology.

BANKING & FINANCE  (B.Sc. Hons)

COURSE DESCRIPTIONS

FNCE102        INTRODUCTION TO BUSINESS FINANCE                    3 Credits
The nature and risks: the limited liability company.  The firm and its objectives.  The objectives of financial decisions.  The finance function - investment, financing and dividend.  Financial management as tools for planning and control of company operations.  Principles of planning and control.  Financing business.  Sources of finance - Short term; medium term, long-term.   The stock market; functions, meaning of market price, Market value and market participants.  Information available to investors: economy, industry, and company information.  Understanding company financial information: Ratio analysis.  Mechanics of discounting - Compound interest, present value, annuities, terminal value and perpetuities.

FNCE111         INTRODUCTION TO MONEY AND BANKING                        3 Credits
Origin of Money; Definition of Money; Function of Money; Types of Money; Origin of Banking; Definition of Banking; Who is a Banker? Classification of Banks; Banking Services, Savings and Investment; Money creation by Banks.

FNCE201         ELEMENTS OF BANKING I                                             3 Credits
(a)  Evolution and Structure of Nigerian Banking System:
      Types of Banking Institutions  Central Bank, Merchant Banks, Commercial Banks, Universal Banks, Development Banks; Non-financial Institutions features, e.g. Insurance Companies, Pension funds, Finance Houses.  The distinguishing similarities, Differences, importance and Functions of these financial Institution.
(B) Evolution and Structure of Financial Markets In Nigeria
      Money and Capital Markets Instruments of trade and participants in the markets.  The Stock Exchange Players in the market, e.g. Bulls and Bears, Securities and Exchange Commission, the First and Second Tier markets.  Requirements for listing in the markets.
(c)  Evolution and Structure of International Financial Institutions
      World Bank and its affiliates, International Monetary Funds and its conditionalities.  European Union, Economic community of West African States, African Development Bank; African Bankers’ Association, West African Clearing House.

FNCE202        ELEMENTS OF BANKING II           3 Credits
                        (Basic Concepts of Banking)
Typical Balance Sheet of Central Bank of Nigeria and Commercial Banks.  The Regulatory Authorities (CBN; NDIC) requirements for Commercial Banks Assessment
of various services offered by Banks.  Cheques clearing system in Nigeria.  The bank as catalysts in economic development. Foreign Exchange Market guideline and method of operation. The role of Chartered Institute of Bankers of Nigeria and Financial institutions Training Center in manpower development for the financial industry.  Importance of Bankers’ Committee and the Monetary Circulars to the banking industry .  Importance of the Bankers’ Committee and the Monetary Circulars to the banking industry.

FNCE212         BUSINESS  FINANCE                                                                       3 Credits
This course deals with the investment decisions of the firm under conditions of certainty and uncertainty, the problems of mutually exclusive projects, capital rationing and inflation, the measurement and usefulness of cost of capital as a decision and the relevance of dividend decision for the firm are discussed.  Students will also be introduced to the concept of capital market efficiency and the pricing of capital assets.

FNCE301        LAW AND ETHICS OF BANKING I                                  3  Credits
Status and regulations governing the establishment and running of banks in Nigeria (e.g. BOFID; NDIC Decree).

Agency  Types and Creation; rights and duties of principles and agents, principles and agents to third parties, bankers as agents, special classes of agents.

Business Law  Distinguishing features of partnership, formation and dissolution, registration of business names, partnership property and its application on dissolution.

Companies and Company Law formation; types of shares, debentures, borrowing powers; authority of directors; winding up of companies, classes of creditors in winding up.

Bankruptcy  Acts of bankruptcy, procedure leading to adjudication, distribution of property available, invalid assignment of property, discharge of bankrupt.

Negotiable Instruments - Essentials, drawing, issue, acceptance, negotiation, collection and payment of bills of exchange, bankers’ draft and conditional orders, crossings, countermand of payment of cheques.

FNCE302        LAW AND ETHICS OF BANKING II                                  3 Credits
Nature of Ethics  Moral responsibility; ethical standards and business effectiveness; ethical decision-making and assumptions; developing ethical awareness; the concept and canons of ethics.

Special Responsibilities of Managers  Responsibilities of the firm; Social responsibility to the customers, shareholders and the society.

The Ethics Banker  Conflict of interest; acceptance of gifts; insider trading; honesty and confidentiality; whistle blowing and loyalty duties.

The Ethical Standards in Organizations: Banking codes of ethics, Inter-bank transactions, CIBN professional Code of Conduct and professional discipline: Offences and penalties under BOFID, NDIC Decree, Advance Fee Fraud; Economics and Financial Crimes Commission Law.

FNCE311         INTERNATIONAL TRADE            AND FINANCE                    3 Credits
Concept of International Trade; benefits of International Trade; balance of payment theory and payments; International Monetary organization, foreign trade multiplier, the foreign exchange market, Method of Payment in International Trade;  Trade Facilities institutions including banks and non-banks, e.g. IMF, NEXIM, ECGD.  The roles of International Economic Union in International Finance e.g., West African Monetary Union, European Monetary Union; International units of Account, Including ECOWAS Travelers cheque, EURO, SDR;Offshore investment.  International Financial Markets and Centers; International Financial Instruments and Securities; Guidelines for International Investments in Nigeria.

FNCE401        PRACTICE OF BANKING I                                                 3 Credits
Banker Customer Relationship  General and special relationship between banker and customer, banker’s rights and duties; Duty of secrecy; customer’s rights and obligations; special relationship between bankers and customers, e.g. indemnities, power of attorney, mandates, standing orders, safe custody, direct debits, etc..

Types of Account Holders  Opening and collection of cheques and other instruments.  The Bankers’ clearing system.  Protection given to Banker under the law. Termination of bankers’ authority to pay customers; cheques in various situations, e.g. on receipt of court injunctions, countermand of payments, etc..

Termination of Bankers Customer Relationship  Action to take on death, mental disorder and bankruptcy of customers, dissolution of partnership, winding up of corporate customers, upon receipts of garnishee;  order of summons, etc..

FNCE402        PRACTICE OF BANKING II                                                           3   Credits
Introduction to issues involved in banking securities; virtues of good banking securities; virtues of good banking securities; ways banks take securities, e.g. lien, pledge, mortgage, guarantee, assignment, etc..  Types of
security-unsecured lending, Negative pledge, letter of comfort, land and building, stocks and shares, goods and produce, cash deposits; Assignment of contracts, interest in will and settlement, life policies, Debenture, vehicle and chattels, Book Debt, Agricultural changes, guarantees, Books and indemnities, standby letter of credit.

FNCE411         FINANCIAL MANAGEMENT                                            3 Credits
Brief review of introduction to Business Finance Investment decision, types of Investment decisions. Capital budgeting and Investment appraisal.  Management of Working capital, share valuation, amalgamations and takeovers, Valuation of business.  Financial Statements analysis.  Effect of taxation and other governmental policies on Investment and Financing decisions.  Intra-company and Inter-company performance evaluations.  Problems of transfer pricing.  Financing imports and exports.  Effects of inflation on financial management and reporting capital structure; Dividends and Retention policy ; Modigigilian; and Millens theory.  Management of risk and uncertainty; alternative attitudes to risk, portfolio theory, capital assets and prices of models.

FNCE421        BANK LENDING AND LOCAL ADMINISTRATION       3 Credits
Principles of good lending; internal and external constraint to lending; types of facilities: Short term, medium-term and long term; lending consideration for building/mortgage loans.  Advance against produce, personal loan, sole trader, partnerships, limited liability companies, etc..  Assessment of strength and weaknesses of customer through analysis of cash budget.  Profit and loss account balance sheet or statement of affairs.  Need for credit control and administration.  Loan monitoring and supervision through loan disbursement and draw down.  Management of bad debt  General consideration, classification of bad debts and recovery.
 
FNCE432        INTERNATIONAL BANKING AND FINANCE                           3 Credits
Correspondent Banking: Use of mostrovostro accounts, means settlement; Travel and electronic money transfers facilities.  Nigerian foreign exchange system and market; International foreign exchange system and market; Exchange rate mechanism. Types of exchange rate markets; future and forward rate, exchange rate movement and risks;  hedging techniques commodity exchanges; off share investment, measuring of the risks of international investments; international financial markets and center; international financial instruments and securities; methods of raising issues in international  market; the role of SEC in international investment.

FNCE441,       MARKETING OF FINANCIAL SERVICES                          3 Credits
Overview of Marketing of Financial Services
Marketing concepts and definition; marketing philosophies; marketing of financial services and marketing of goods compared;Characteristics of financial services; Elements of marketing; variables in financial services strategies.

Marketing Mix -  Product definition and types; Product development and segmentation; Product development strategies; New Technology for bank product development.

Pricing  Definition of Types; Determinants of  price; Initiating and responding to price changes; Pricing Strategy.

Place  Channels of distribution; Direct and indirect distribution; determining factors; Channel off distribution, constraints to choice of channels.  Types of delivery systems

Promotion  Advertising; definitions, types and basis for selection; personal selling; merits and demerits;.  Sales promotion; objective, tools, implementation and evaluation.

Publicity: definition, objectives, sources implementation.

Public Relations  Definition, reasons for PR, function of a PR; problems of PR in banks.

Customer Relations  Concept of customer relations, customer services management; changing trend in customer relations.

FNCE451        INVESTMENT ANALYSIS AND PORTFOLIO MANAGEMENT            3 Credits
Types of Investment, government securities, Investment earning, and Redemption, Investment trusts, unit trusts, Insurance companies, and life assurances.  Key institutions in Capital Markets; stock exchange securities and exchange commission, trustee, companies, public companies.  Objectives of portfolio Management, Models of Stock Market behaviour, theory of portfolio selection, data Inputs for portfolio; computation of stock market indices, portfolio performance measurement and evaluation, valuation of stock and shares.

FNCE462        COMPARATIVE BANKING                                                  3 Credits
The nature and functions of financial intermediation; Political economics of banking; banking under Capitalism, Socialism, and Communism; Banking and religion; History and development of banking system. The British, American, German, Japanese, Ghanaian, Nigerian banking systems.  Islamic banking system, etc..

FNCE 482 &   FINANCIAL ECON 471        ECONOMICS                                    3 Credits
The nature and functions of financial intermediation: The process of financial Intermediation; An overview of Nigeria financial system, Types of Banking institutions and their functions, e.g. Central Bank of Nigeria, Commercial Banks, Development Banks; Bank Balance Sheet and liquidity management; Tools of monetary policy. Fundamental Theories of Money, including classical, monetarist and Keynesian, Analysis of Inflation and Exchange Rate System;  Trading and Reserve currencies, e.g. gold, Special Drawing Rights (SDR).  The role of IMF in managing international liquidity; reason for the globalization of financial market;  Balance of payment definition and composition; international financial institutions, e.g. ADB, EU, ECOWAS, Financial and Economic Policies and Institutions of government, e.g. NDIC, BOFID, EFCC.  Their roles in the financial system of the country.

FNCE490        STRATEGIC MANAGEMENT IN THE FINANCIAL SERVICE INDUSTRY                  3 Credits
The study of change, strategy and strategic management, strategic management processes; formality in strategic management process;  formality in strategic management, strategic management pyramid/model; strategic versus other types of planning; developing work programs and time table; Environment Scanning; Internal analysis and position assessment, mission statement, mission statement; strategy formulation, strategic information systems; strategic thinking.

Overview of strategic management, organizing and initiating strategic planning. Environmental scanning, Internal Analysis and position Assessment, Mission Statement, Strategy Formulation, Strategic Information Systems, Strategic Thinking.

FNCE499        RESEARCH PROJECT                                                         6 Credits
Independent study of a management topic approved by the department under the supervision of a lecturer in the department.