This is a Forum for students studying Economics in school and also for Graduates to commend on how dis course is

Apart frm d view of forefathers of Economics like lionel Robins, fischers, Adam smith etc. What do u think Economics is all about. Ur own view of Econs

Economics, to me, is a social science which is concerned with how households, businesses and governments make decision in terms of allocation of its scarce resources in the face of competing alternatives.

In the case of the individual, he/she has to decide whether to use all current income on consumption, savings or both. The choice he/she ultimately makes depends on the opportunity cost of each action. He therefore needs to rank his choices based on his preferences or priorities.

The business organisation on the other hand, has to decide whether to invest current income in new businesses, retain the income or inject it into current business portfolio. In a business that is listed in the stock market they have to also decide whether to distribute current earnings to shareholders in the form of dividend. Again, the decision to do any of the above is dependent on the goals of the firm and the opportunity cost of each action.

The govt is faced with the danger of increasing allocations to a particular sector. For instance, will the govt increase allocations to health, education, utilities etc? All depends on the overall economic targets of the govt. The issues raised in this regard are mainly normative, it depends entirely on people's value judgment. An economists with strong interest in health care may want the govt to increase allocations to health why one with interest in education may advocate increased funding for education. That becomes a policy dilemma. The govt therefore will need to have a thread-off on each.

Economics is also concerned with issues of production, consumption and distribution. Income distribution, inequality and economic development are also areas of concern to economics and economists.

Main issues of interest in economics include interest rate, inflation, unemployment, exchange rate etc. These are mainly macro issues. At the micro levels you have issues like consumption, production, distribution etc.

People argue that there is virtually the economics of everything. The economists have found themselves in such trivial issues like sex, gambling,morality, marriage and all what have you.

Even though the study of economics was revolutionalised by the publication of Adam Smith in 1776 titled the wealth of nations, economics have advanced beyond what Adam Smith and other classical economist wrote. John Maynard Keynes, the father of modern macro economics brought a lot  in the field of economics in his publication in the 1930s after the great depression.

Recent developments in economics include the Transaction Cost Theory by Oliver Williamson, Trade theory by Paul Krugman and a host of others.

Economics is an interesting and exciting subject. It gives the individual a wide spectrum of information and skill in policy analysis, formulation and implementation. A graduate/student of economics is expected to understand and interpret current economic events and possibly proffer solutions.However, economics can also be a dreadful subject, especially in the area of mathematical modeling, econometrics and maybe macroeconomics. It therefore requires handwork and discipline.

Let me also add that an economics is expected to communicate in simple, clear and understandable language free from technical jargon while presenting or advising a  non professional gathering. So, he is not expected to speak like Chris Okotie, Hon. Patrick and the likes. He is also expected to be skilled in mathematics, statistics and computer science. This is because most of the work of the economist revolves around model building.

It's not easy to remember most things having left the field for quite sometime now. However, the little above can kick-start the discussions.

That was a good response from u. Tanx. At least we hv started something.

chamber2:

Economics, to me, is a social science which is concerned with how households, businesses and governments make decision in terms of allocation of its scarce resources in the face of competing alternatives.

In the case of the individual, he/she has to decide whether to use all current income on consumption, savings or both. The choice he/she ultimately makes depends on the opportunity cost of each action. He therefore needs to rank his choices based on his preferences or priorities.

The business organisation on the other hand, has to decide whether to invest current income in new businesses, retain the income or inject it into current business portfolio. In a business that is listed in the stock market they have to also decide whether to distribute current earnings to shareholders in the form of dividend. Again, the decision to do any of the above is dependent on the goals of the firm and the opportunity cost of each action.

The govt is faced with the danger of increasing allocations to a particular sector. For instance, will the govt increase allocations to health, education, utilities etc? All depends on the overall economic targets of the govt. The issues raised in this regard are mainly normative, it depends entirely on people's value judgment. An economists with strong interest in health care may want the govt to increase allocations to health why one with interest in education may advocate increased funding for education. That becomes a policy dilemma. The govt therefore will need to have a thread-off on each.

Economics is also concerned with issues of production, consumption and distribution. Income distribution, inequality and economic development are also areas of concern to economics and economists.

Main issues of interest in economics include interest rate, inflation, unemployment, exchange rate etc. These are mainly macro issues. At the micro levels you have issues like consumption, production, distribution etc.

People argue that there is virtually the economics of everything. The economists have found themselves in such trivial issues like sex, gambling,morality, marriage and all what have you.

Even though the study of economics was revolutionalised by the publication of Adam Smith in 1776 titled the wealth of nations, economics have advanced beyond what Adam Smith and other classical economist wrote. John Maynard Keynes, the father of modern macro economics brought a lot in the field of economics in his publication in the 1930s after the great depression.

Recent developments in economics include the Transaction Cost Theory by Oliver Williamson, Trade theory by Paul Krugman and a host of others.

Economics is an interesting and exciting subject. It gives the individual a wide spectrum of information and skill in policy analysis, formulation and implementation. A graduate/student of economics is expected to understand and interpret current economic events and possibly proffer solutions.However, economics can also be a dreadful subject, especially in the area of mathematical modeling, econometrics and maybe macroeconomics. It therefore requires handwork and discipline.

Let me also add that an economics is expected to communicate in simple, clear and understandable language free from technical jargon while presenting or advising a non professional gathering. So, he is not expected to speak like Chris Okotie, Hon. Patrick and the likes. He is also expected to be skilled in mathematics, statistics and computer science. This is because most of the work of the economist revolves around model building.

It's not easy to remember most things having left the field for quite sometime now. However, the little above can kick-start the discussions.

Good one, respected colleague.

Although I'm first an Accountant today before Economist(?), Economics still remains my first love.

Let me chip in some things on career prospects of an Economics graduate.

The greatest advantage you have if you read Economics for your first degree is marketability and versatility.
This stands it high ahead of other Social Sciences and management disciplines.
Many job adverts extend their requirements net to cover Economics, sometimes even when not directly related to Economics. So this means, with other factors like your class of degree and self-development, you stand high chance of getting job.

As an economics grad, you can tread a career path in the following areas:
Banking: You stand a high chance of getting bank job if you read Economics, even far ahead of someone that read Banking. This is because banking profession goes beyond banking industry knowledge to include the knowledge of teh workings of teh whole macro economy. This is why an economist stands a better chance of faring better in banking profession than a professional banker. My childhood dream was to become a banker(my mentor then was Dr. Femi Adekanye, CEO of the now defunct Commerce Bank), so when completing my UME form, I chose Banking, but my brother, then a banking officer in an investment bank now a GM in that now enlarged bank, advised met to choose Economics instead of banking as Economics subsumes Banking plus other things. I reluctantly effected the change in my form and settled for a school where Economics was offered. That's one of the Top 3 decisions I have ever taken in my life as Economicsoffered me a wider choice when I graduated. Although, along the line in university I lost interest in banking, but thankfully I wasn't studying banking, I was studying what was more than banking.

It is also noteworthy that before the boom in banking industry in mid-2000's when banking jobs became an all-discipline affair, when Science and Engineering grads who were better in taking aptitude tests, but whose line had very little to absorb, swarmed into the banking industry and outmuscled the Econs & related grads for the jobs, Nigerian banking industry was dominated by Economists and economics graduates. Most of the men that ruled Nigeria's banking industry in the 70s to 90s have economics background. So banking is traditionally one of the most attractive career destinations for Econs grad.

POLICY Your economics knowledge will be useful in policy prescriptions, analysis, formulation and implemention. This is a wide area. CBN, DMO and many other bodies -regulatory and industrial - stripped to persons are group of economics. This is the area I personally like. The good thing about this line is that it is more practical-based than theory.

ACADEMICS You can remain in academics and call shots. You can go ahead to become a Prof. You can contribute to economic discourses and debates, update yourself with latest in the field. This path is very interesting but unfortunately difficult in Nigeria because a number of factors conspire that affect the stuff of Nigerian academic economists. I am sorry to say, only a few of Nigerian economics lecturers are versed beyond the old theories in the text books. Compared with the stuff of academic economists from especially US, our lecturers still have a lot to do.

FINANCE: Because this, alongside banking, is the most financially rewarding route for an Econs grad in Nigeria, vast majority of them find themselves here. I am also here. Many decide to write porfessional exams like ICAN, ACCA, CFA etc and become Accountants and Finance analysts. A good % of Finance top guys in Nigeria read Economics, including the current Accountant General of Nigeria, and in fact, David Dafinone, the Nigerian accounting legend that entered Guinness Book of World Records as having all family being Chartered Accountants and Economics as academic qualification. Although I'm not sure of this, I think even the man regarded as the Doyen of Accounting Profession in Nigeria(first Nigerian Chartered Accountant), Akintola Williams read Economics. Here, unlike other areas, your economics knowledge plays second fiddle and how well grounded you remain in economics depends on your personal efforts and passion.

Let me also discuss some outstanding Nigerian economists.

In the United States, economists are well respected. The President doesn't play with Economists. There are some people whose business is just thinking for the government on how to manage economic situations and effect of policy options on the whole economy. Politics and economics are interwoven in that clime, unlike here. When contesting for presidency, your economic policy proposals are brought under close scrutiny. Ordinary folks on the street discuss economic manifestoes of presidential candidates and base their choice on it. Tax policies., amongst others, are usually central. The likes of Milton Friedman, one of the greatest economists of this century, was used by successive American presidents until he died recently.

But in this part of the world, we ahve not advanced to that extent. Nobody cares about the economic blueprint of any presidential candidate, since we know it's all lies, it doesn't go beyond the documnet it's written on. Coupled with widespread economic illiteracy, things like those don't bother us.

Well, I will discuss some personalities that have dominated Nigerian economic policy discourses in the last few decades, in my next post.

Nice contribution Jarus

Yes, our professors and lecturers in Economics need to up skill seriously. They hardly engage in any intellectually stimulating discourse. The only group that seems to be waxing a bit stronger is the Nigerian Economic Summit group, but i see them as mere political party rather than a think-tank.

The most surprising part is that most of our professors and lecturers were trained in Europe and north America, yet, they find it difficult to apply their theoretical knowledge in solving our problems. Maybe it's environmental factor or laziness. In my dept for instance, almost half of my lecturers received their training abroad and i know this will be higher among 1st and 2nd generation Nigerian Universities.

The Nigerian Nigerian economy of the 60's was agrarian and principally driven by exports of agric products likeCocoa, Rubber, Groundnut etc, that not only provided employment but also provided source of revenue for, thankfully, the good governments of those days, who were able to do wonders with such funds establishing universities like Ife, Nsukka, Zaria and Benin. The system of government then, at least until 1967, was decentralized with each regional economy on its own, with little spill to other regions, even though it's the same country.

In the military eras of late 60's to early 70's, the economy was more or less passive. In fact the CBN governors then hardly did much, very passive position it was. Even Adamu Ciroma -yes, that same NPLF man today- was fetched from being MD of a newspaper to become CBN governor. Chief Obafemi Awolowo was made Finance minister and I'm still struggling to know what qualified him for that job. Although his vision and wisdom was not in doubt, but being a lawyer, journalist and politician, not with Finance/Economics background, I don't know why him. So these appointments of the 70's tells a lot about how our economy was managed then.

Jarus:

The Nigerian Nigerian economy of the 60's was agrarian and principally driven by exports of agric products likeCocoa, Rubber, Groundnut etc, that not only provided employment but also provided source of revenue for, thankfully, the good governments of those days, who were able to do wonders with such funds establishing universities like Ife, Nsukka, Zaria and Benin. The system of government then, at least until 1967, was decentralized with each regional economy on its own, with little spill to other regions, even though it's the same country.

In the military eras of late 60's to early 70's, the economy was more or less passive. In fact the CBN governors then hardly did much, very passive position it was. Even Adamu Ciroma -yes, that same NPLF man today- was fetched from being MD of a newspaper to become CBN governor. Chief Obafemi Awolowo was made Finance minister and I'm still struggling to know what qualified him for that job. Although his vision and wisdom was not in doubt, but being a lawyer, journalist and politician, not with Finance/Economics background, I don't know why him. So these appointments of the 70's tells a lot about how our economy was managed then.

Interesting revelation. Could this be the reason why the revenue from the oil boom of the 70s was mismanaged and we began to beg in the 80s during the era of SAP?

Then we had the oil boom of the 1970's that consolidated Nigeria's position on global economic map. There were too much funds to play with. Funds was being thrown everywhere. There was also the well-conceived but poorly implemeted Udoji reforms also in mid(or late) 70's, where civil servants salaries were upped. Unfortunately, either the govt then did not get input of economists or mis-advised, these actions hit Nigerian economy badly shortly after, raising price levels, amongst other effects.

It also brought widespread corruption and with a President Shagari that was not exactly willed enough,the tumour taht brought Nigerian economy on its knees began to metastasize in that period.

Although, during the period we had fine economists in Professors Pius Okigbo and Ojetunji Aboyade, there was little they can do to rescue the situation.

During the 1983-85 military interregnum by Buhari/Idi Agbon, Bretton woods institutions of IMF & WB had become more interested in Nigeria. There was a heated debate on devaluation at the period, but the then hardlined regime rejected the prescription. I don't know the economic brains behind this regime but I know the regime had issues with global capital.

Chamber, we will discuss that. Let me finish runnin through our economic history.

Then came the IBB regime. IBB regime brought vivacity to economic discourses in Nigeria. Economic debates became a street thing and moved from class rooms. The man assembled arguably Nigeria's most intimidating array of economic team, spearheaded then by Yale-trained Economist, Olu Falae, Dr Chu Okongwu and Dr Kalu Idika Kalu, with the likes of Professor Sam Aluko firing from the sidelines. They prescribed SAP for Nigeria, and it generated serious economic debates in intellectual circles. Although the general sentiment is that SAP destroyed our economy, the regime left in its wake more awareness about Nigerian economy.

The subsequent regime of Abacha was nothing to write home about economy-wise, except that a hitherto well respected economic voice, Sam Aluko, soiled his image by being the economic adviser to that government.

Obasanjo also assembled a commendable array of high flying economists like Charles Soludo, Okonjo Iweala, Ibrahim Ayagi etc as his economic think tank and by my estimation did a good job. Some people will debate this.

The current regime has Okonjo Iweala, a Harvard-trained development economist as its economic engine room with Sanusi Lamido manning the monetary policy as CBN boss. Well, I don't need to discuss this much as a lot of debates are on on their performances, which I will not like to spark here again.

While those guys formulate, we have the likes of Professor Pat Utomi(Nigeria's most vocal economic commentator today), Mr Bismarck Rewane and few others doing the policy appraisal and critiquing from the sidelines.

Gotta stop here, but all in all, it's been a long journey and I believe economics has come of age in Nigeria.

Jarus, job well done.

Let me quickly but briefly dive into the structure of the Nigerian economy from 1960 to date. First, The Nigerian economy is composed of all the resources (human, capital, natural etc) that are or can be found within the geographical landscape of Nigeria and which she utilises or otherwise for the enhancement of the living standards of the people of Nigeria. It is no longer news that Nigeria gained political independence in 1960, however, economic independence has eluded her afterwards.

Structurally, the Nigerian economy is divided into the following categories;

Agriculture
Manufacturing
Services
Transport
Industry
Petroleum/oil
Education
etc

I and maybe others, will try and anlyse the activities in these various sectors as we proceed.

As pointed out by Jarus, Nigerian economy was mainly agrarian before the discovery of crude oil in commercial quantities. During this period Nigeria was almost self reliant both in food production and consumption. It was one of the main source of govt revenue and accounted for about 70% of our earnings. Between 1960-70, the Nigerian economy was estimated to be growing at an annual rate of about 3.1%and 6.2% during the oil boom of the 1970s.In the 1980s there was a negative annual growth rate and b/w 1988-1997 (SAP) era we recorded a positive growth rate of about 4.0%

Since independence and after the oil boom, the contribution of Agriculture in Nigerian economic development have been on the decline. let me not bore you with statistics.

After Agriculture comes yet another important but grossly neglected sector - manufacturing. This sector deals with the transformation of raw materials into finished goods. Finished goods are those that can satisfy consumers immediate wants. This sector is also known as the real sector of the economy. Over the years this sector have been completely neglected and under supported. Our poor infrastructure coupled with epileptic power supply remains the bane of the Nigerian manufacturing sector. The problem of this sector can also be attributed to the discovery of oil in commercial quantities with the resultant mismanagement. Major players in this industry, both local and foreign owned, include;

Dangote group
British American Tobacco (Nigeria) Limited
Cadbury Nigeria
Coca-Cola Nigeria PLC
Dunlop Nigeria PLC
Friesland Foods Wamco Nigeria PLC
Guinness (Nigeria) PLC
Nigerian Breweries Plc
PZ Industries PLC
Nestlé Nigeria Plc
etc

It is quite regrettable that when other economies are talking about the new economy industries (IT, Telecoms etc) Nigeria is only thinking of developing her manufacturing sector.

Great job!

But you guys have restricted the discussion to only economic history. Economics does not end there na.

Let us also discuss macroeconomic models, how they are built, why they are built, why they sometimes fail and the consequences of their failures on a country's economy and the world's economy at large. Microeconomic models are also waiting for us to discuss them.


Now, to those aspiring to become Economists (PhD in Economics) and hope to pursue their PhD in Economics at the best schools in the world, please abeg make sure you take the following courses at the department of Mathematics (not anywhere else O) in your various schools:

Abstract Algebra--This will help you succeed in the first year of PhD Economics courses. Most first year courses in Economics are proof intensive. They are so proof intensive that you simply would not believe you are studying Economics. You will do yourself a lot of good by trying to learn one or two things in AA.

Linear Algebra and Statistics--- Okay, here, you need either average or above average skills in these courses to help you understand Optimization, Microeconomics, Macroeconomics and especially Econometrics. Again, try to take these courses with Mathematics students. If you are not allowed to take them, then please get notes from your friends studying Mathematics and Statistics. Study the notes to fully grasp what the courses are all about. The ones offered in Economics department are not at all rigorous and will never help you understand the subject at a high level. Also learn SPSS, Stata, R, Gauss, Matlab or any other software you can lay your hands on. Learning this will help you perform a detailed analysis of economic data. This is essentially what is mostly done in Econometrics.

Calculus, Multivariate Calculus and trivial Ordinary and Partial Differential Equations--These courses are the live blood of Optimization, Macroeconomics and Microeconomics. If you don't know Implicit Function Theorem, Envelope Theorem and Total DE, you simply cannot succeed at PhD level Economics (sometimes Master's sef). Even though you neglect the previously listed courses, please don't neglect these ones if your wish is to become an Economist (PhD Economics). All those Maximize/Minimize this subject to that, Marginal blah blah, Total blah blah you hear about in Economics have their roots in these courses. Neglect these courses to your own peril!

Furthermore, for those with no background in Economics, it is helpful, but not at all mandatory, to take at least two semester courses in Microeconomics and Macroeconomics. Admissions committee will smile at your transcripts if these courses are there and you have good grades in them. However, you are still highly welcome and will never be penalized if you do not have a knowledge of these courses and have never taken them before before before. They believe that you can easily pick them up, provided you have a strong background in quantitative courses. But, in my opinion, it is very helpful to have some knowledge of Micro and Macro. You will hit the ground running!

And lastly, if you want to be at the top of your graduate class, you want everybody to fear you and bow to your intellectual sagacity, then you can go ahead and study extra Math/Stat courses. You should aim to study fancy Math/Statistics/Computing courses like Programming, Measure Theory(Lebesque Theory in particular), Functional Analysis, Probability Theory, Stochastic Process, Distribution Theory, Ring Theory and anything generally involving strong proofs, hahahahah no fear!

These courses are especially useful for a strong understanding of every aspect of Economics and Finance. However, you will not die if you don`t know them. You will simply just be an average Joe in a highly competitive PhD Economics class. Nonetheless, this does not mean that you will not succeed as an Economist in the near future. There is more to life than topping your graduate class.

I hope I find time one of these days to discuss some recent issues in economic research with regard to economic modelling.

Until then, I remain yours truly
T.

^^^
I am just seeing your response now. I think economic history is the foundation of economic principles.

Economic theory is  simply a simplified assumption of economic realities. The real life is too complex to accommodate everything, so the economist detaches the necessary ingredients of the real life and build them into mathematical representation otherwise called models. This models are designed in such a way that the bigger picture is not distorted.

The basic economic model is that of a simple economy, where only the household and the businesses interact to make basic economic decisions. The hosuehold makes the consumption decision and the business ventures make the investment decisions. In mathematical terms this is represented as;

Y = C + I

The Y represents the National Income (GDP) in this context, C is consumption by household and I is the business sector investments. This forms the basic model of the simple economy. This is the land quaking classical models. There is no govt intervention and all decision regarding consumption and investment are made by the household. This forms a kind of a circular flow, representing the interrelationship b/w household expenditures and business investments.

Remember, expenditure by any of the sectors represent income to the other. This is what we call the Income-Expenditure-Income flow. This forms a kind of linkage between the sectors. Also, not all income is spent. Part is spent why others are saved for future consumption. This also represents a form of leakage in the circular. Also, any inflow in the form of investment represents an Injection. The part of income that is used for consumption is term the disposable income.

Another thing in this simple model is that there are not taxes, no foreign trade and no govt. This is the starting point of any macro-economic model. Then this model can be expanded to include the govt and the international sector. If that is done then the model becomes a bit complex, involving various mathematical representation.

This is the foundation of macro economic models

Lets kick start the model building process from here.

As an ecnomist,wat professional body can we join apart from the accountancy body.and also would like to purchase masters form but dnt want to do masters in economics,which other area can l specialize

Any Health Economist in the House?

staceyo:

As an ecnomist,wat professional body can we join apart from the accountancy body.and also would like to purchase masters form but dnt want to do masters in economics,which other area can l specialize

You can try the CFA (Chartered Financial Analyst) or CIS (Chartered inst. of stock brokers of Nig.) They are both good for economist graduates, but the CFA is more prestigious and somehow difficult to pass.

If you don't want to do masters in Economics then try MBA. You can do MBA (Masters of Bus. Adm)and specialise in Finance, supply chain or any other area you consider necessary.

ijoseda:

Any Health Economist in the House?

Maybe you could start by telling us what Health Economics do. Health Economics is not a very popular area of Economics, especially in Nigeria. At the masters degree level in 9ja people do the general econs thingy and only specialise during their PhD or so. Only very few schools have various specialisations. Maybe the likes of UI, IFE, Unilag etc.

Do you have an undergrad degree in Econs?

My First degree is in Medicine and Surgery. Health economics is actually a very interesting field, and Its an emerging field too. Health economist do a lot of things ranging from Healthcare financing (health insurance is the most popular), to Economic evaluation of health technologies and health programs, Equity in healthcare, and every other things that help increase value for money spent on healthcare. With increasing population and increasedemand for health and healthcare, coupled with limited resources, its no longer business as usual. i hope to be able to share more details as time goes on.

chamber2:

You can try the CFA (Chartered Financial Analyst) or CIS (Chartered inst. of stock brokers of Nig.) They are both good for economist graduates, but the CFA is more prestigious and somehow difficult to pass.

If you don't want to do masters in Economics then try MBA. You can do MBA (Masters of Bus. Adm)and specialise in Finance, supply chain or any other area you consider necessary.


Maybe you could start by telling us what Health Economics do. Health Economics is not a very popular area of Economics, especially in Nigeria. At the masters degree level in 9ja people do the general econs thingy and only specialise during their PhD or so. Only very few schools have various specialisations. Maybe the likes of UI, IFE, Unilag etc.

Do you have an undergrad degree in Econs?

Subscribing,will come up with my 'little' contribution soon

^^^

Seems you left Econs for something else. I am still considering a postgrad degree in Econs or In't business/econs

These days, I am getting scared of economists

^^^^

AjanleKoko:

These days, I am getting scared of economists

Not just these days o!

I heard they've been behind wars and Empires since the dawn of civilisation.

Cain was the first one, i think.

Even Pharaoh needed one in the person of Joseph.

Nebuchadnezzar had Daniel & Co.

Abacha had Aluko abi? Who did IBB have?

Guess GEJ has none.

yamakuza:

Not just these days o!

I heard they've been behind wars and Empires since the dawn of civilisation.

Cain was the first one, i think.

Even Pharaoh needed one in the person of Joseph.

Nebuchadnezzar had Daniel & Co.

Abacha had Aluko abi? Who did IBB have?

Guess GEJ has none.

IBB had Olu Falae(Yale-trained), Kalu Idika Kalu and Alhaji Alhaji. lol

ijoseda:

My First degree is in Medicine and Surgery. Health economics is actually a very interesting field, and Its an emerging field too. Health economist do a lot of things ranging from Healthcare financing (health insurance is the most popular), to Economic evaluation of health technologies and health programs, Equity in healthcare, and every other things that help increase value for money spent on healthcare. With increasing population and increasedemand for health and healthcare, coupled with limited resources, its no longer business as usual. i hope to be able to share more details as time goes on.

The field will be interesting and defiinitely a hot cake, if not now, in the medium term.
I read, few weeks ago, about the young lady behind 'Flying Doctors' and she is dooing herself good and making name and money for herself. she specializes in an unexploited area of healthcare like this. Going into Healthcare Economics appears similarly promising.

But I strongly doubt, if not totally sure, any Nigerian university does it though.

^^^

Methinks that's the best strategy now-exploiting untapped areas. The general Econs program most Nigerian universities run don't help matters. Apart from UI (i don't know of IFE, UNILAG ETC) that has a few specialisations others just go the general way.

personally, i am leaning towards international business, In't econs or Financial Econs. I so much love macro-econs but looking at the quantum of research in that field already, i don't i will compete favorably on a global scale should i follow that line. I am adopting the blue ocean strategy

Jarus:

IBB had Olu Falae(Yale-trained), Kalu Idika Kalu and Alhaji Alhaji. lol

IBB had an army of economists. Don't forget the ebullient Chu S.P. Okongwu (my personal favourite )