Choosing a Career in Economics

By Kibash
Careers in Economics are as diverse as they come, this is because Economics is a vast field with job roles in virtually all sector of the economy. Depending on your area of interest, an economics degree will help you develop specialized analytical skills, enabling you to successfully enter multiple industries as a professional economist, or as another type of professional with an eye for economics.
An economics degree will boost your employability in many areas, regardless of the industry you work within. This reflects strong demand for highly numerate graduates throughout the global labor market, and the widely transferable analytical and problem-solving skills developed by economics students.
But, more specifically, what can you do with an economics degree? Below are a range of popular economics careers,

Would You Rather Invest in a Ponzi Scheme?

(MMM IN FOCUS)
By Kuranga Abdulazeez
According to Investopedia,a PONZI scheme is an investment fraud where clients are promised a large profit at little to no risk. Companies that engage in this scheme focus all their energy into attracting new clients to make investments. This new income is used to pay original investors their returns, marked as a profit from a legitimate transaction.
Ponzi schemes rely on a constant flow of new investments to continue to provide returns to older investors. When this flow runs out, the scheme falls apart.
The salient features of a Ponzi scheme are listed below:

Economic Idea- Theory of Demand and Supply

Theory of Demand

Demand is one of the economic theories that form the heart of Economics. Before proceeding, it is necessary to talk about its  framework which is Market. Market can be said to be network of communications between economic agents (individuals or firms) for the purpose of buying and selling goods and services. It is the platform where  buyers and sellers interact to make transactions.

Demand can therefore be simply referred to as the willingness to purchase a goods or services with ability to pay a particular price at a particular point in time.

HOW TO WRITE ECONOMICS UNDERGRADUATE FINAL YEAR PROJECT -PART II

Chapter One- Introduction
By Kibash

This chapter is titled INTRODUCTION of the research. It describes the background, scope nd purpose of the research. The researcher is expected to present sufficient details regarding why the study was carried out. At times, there is usually none, one or two introductory paragraphs before the background. Chapter one consists of the following:

1. Background of the Study
2. Statement of Research Problem
3. Research Questions
4. Objectives of the Research
5. Research Hypotheses
6. Significance/ Justification for the study
7. Scope of the Study
8. Organisation of the Study.

5 Reasons Why an Economist Should Rule

1. He’s an Economist:
An Economist is referred to as an expert in Economics. Economics which simply mean efficient allocation of scarce resources so as to meet insatiable wants of individuals. Economic resources are believed to characterized by scarcity and price. An Economist studies way in which these scarce resources are being maximized at minimum cost to meet or satisfy needs of individuals in the society.
Every government complain of inadequate resources, meanwhile this is not suppose to be an excuse for inefficient and ineffective governance. The government is expected to have a foresight of this as there is never enough resources to meet the ends of individuals in the society. Here comes the need for an Economist. An Economist as an expert

THE REALITY OF ECONOMIC RECESSION (PART II)

Oil Money
By: Bello AbdulRauf Aremu (Rufy B)

In continuation of the previous analysis on the current Nigeria’s economic recession, the story continues and I shall take off from where I stopped, when oil was discovered in Nigeria.
Crude oil was discovered at Oloibiri, Bayelsa State in the year 1956. However, commercial production started in early 70s. With the arrival of crude oil, the Nigerian economy raised a lot of revenue, most especially with the oil boom that came in the early 70s. Nigeria’s crude oil is regarded as ‘light’ and ‘sweet’, in the sense that it has very low sulphur. The lower the sulphur, the higher the quality of crude oil products. Nigeria is the largest producer of ‘sweet oil’ in OPEC.
Oil production was really great and profitable in which Nigeria rose to be the wealthiest country in Africa. Between 1958 and 1974, government revenue increased from N200,000 to

THE REALITY OF ECONOMIC RECESSION (PART I)

Story so Far

By: Bello AbdulRauf  Aremu (Rufy B)


First of all, I would like to assert that I am not a pro-Buhari or an anti- Jonathan, neither am I a PDP nor an APC member. Also, the content of this write-up is strictly based on my personal opinion and also based on the information available to me.

The tenets of this article is, to give detailed analysis of recession really mean and how we got to this stage.

It should be noted that the current economic distress Nigeria is faced with is not new. There had been downturn in economic activity in the past notably in the late 80s and during the global economic meltdown in 2008. But this current economic situation is the worst in

Economics Undergraduate Project Topics

1). Export diversification: Strategy for Economic Growth in Nigeria.
2). Impact of FDI on the construction sector of the Nigerian economy (1980-2015).
3). Agricultural funding as solution to Nigerian economy diversification.
4). Impact of rising interest on manufacturing sector of the Nigerian economy.
5). Government expenditure and agricultural production in Nigeria (1980-2015).
6). Effect of exchange rate on manufacturing industries in Nigeria (1999-2015).

Nigeria: Economic Recession Requires Out-of-Box Solutions - Buhari

President Muhammadu Buhari has said the current economic recession requires out of the box solutions to steer the country on the path to recovery.
The President also hinted that some ministries and agencies will get less allocations in the 2017 budget than they received in 2016 while some will get more.
Speaking at the one day retreat on the economy on Thursday at the Presidential Villa, with the theme "Building Inter-ministerial Synergy for Effective

PPP scheme to mass produce fish takes off in Lagos

A Public Private Partnership to mass produce fish for local consumption and export has taken off in Lagos State.
The initiative which will fetch the federal government 30 percent returns on investment, investors 40 percent and project promoter 30 percent over the next ten years, is located at Igbo-Olomi Ibeju-Lekki area of the state.
Mr. Segun Kowontan, President, Project Fix Nigeria Limited, disclosed this during visit of the Central Bank of Nigeria, Bank of Industry and Lagos State Government, to the World Bank/ETF assisted fish/livestock farm facilities.
He said,”

Naira devaluation - a catalyst or an inhibitor to Nigeria's development

By AddulRauf Bello (RufyB)


Devaluation of currency is a deliberate reduction in the value of a country's currency in relation to currencies of other nations. Devaluation shouldn't be confused with depreciation, as devaluation is a deliberate act by the central government of reducing the value of its currency through the central bank while depreciation is caused by macroeconomic factors.

HOW TO WRITE ECONOMICS UNDERGRADUATE FINAL YEAR PROJECT -PART I

Choosing a Research Topic
By: Kibash



Research simply mean systematic investigation into and study of materials and sources in order to establish facts and draw conclusions about phenomena. Project can be said to be an individual or collaborative enterprise in which strategies and resources are employed to achieve certain objectives. Research project can therefore be referred to as employment of material and non-material resources in investigating and looking into materials and sources so as to establish facts and conclusions about certain phenomenon.
Research project to most students is a compulsory final year "ritual". It is a partial fulfilment of the requirements for the award of degree in Economics. The nature of research project varies across all fields of knowledge. The focus of this article is Economics field.

Nigeria earns N1.7 trillion from crude oil export in Q2

• Spends N296 billion to import petrol
• Oil production decreases by 51,000bpd
Despite calls for diversification of Nigeria’s revenue base to other sectors like manufacturing and agriculture, oil and gas accounted for 92.9 per cent of the country’s export earnings during the second quarter of 2016.
Specifically, out of the N1.872 trillion of

Economic recovery: Expert urges FG to focus on maritime industry

As the economic recession takes  toll on Nigerians, the Executive Vice Chairman of Sifax Group, Dr. Taiwo Afolabi, has called on the Federal Government to redirect its focus to the maritime industry as a panacea to getting out of the current economic situation.
Speaking at the Taiwo Afolabi annual maritime conference hosted by the Maritime Forum of the University of Lagos, Afolabi said

Nigeria will surmount economic crisis, says Senate President

Senate President, Dr. Bukola Saraki, yesterday assured Nigerians that the present economy recession would soon be tackled through legislative support.
Saraki gave the assurance in Ilorin during an interaction with journalists, while also affirming that Nigerians were really suffering.
According to him, the major preoccupation of the Senate upon resumption on September 20 will be on finding solutions to the economic recession.

WHY THE PRICE OF PREMIUM MOTOR SPIRIT ( PETROL) WILL NOT REDUCE EVEN IN THE LONG RUN

By Kuranga Abdulazeez

According to previous research on crude oil extraction in Nigeria, 40% of the extracted crude is locally refined as up to 60% is exported to be imported back in its refined form. The marketers are the major players in the importation activities. Imported fuel comes at a very high cost which causes marketers to shift part of the burden to the consumers in form of high prices. Being a valuable product and a 'necessity', government cannot leave consumers to bear the full burden of the high price directly. Therefore,