The philosophy of Economics concerns itself with conceptual, methodological, and ethical issues that arise within the scientific discipline of economics. The primary focus is on issues of methodology and epistemology – The methods, concepts, and theory through which economists attempts to arrive at knowledge about economic process. Philosophy of economics is also concerned with the ways in which ethical values are involved in economic reasoning – the value of human welfare, social justice, and the tradeoffs among priorities that economic choices require.
Above all, the philosophy underlying the course of economics as a social science is to produce a flow of graduates imbued with an enthusiasm to make their contributions to Nigeria, Africa and World community by equipping themselves with a broad foundation of knowledge in the field of economics. The subject matter of economics is the study of mankind in everyday business of life (Afred Marshall, 1936) Economics has centered its attention on the activities of man as a consumer, producer, and distributor of goods and services and to an extent as a voter.
Objectives of Department of Economics
The main objective of Department of Economics is to produce graduates who are able to assist in the solution of societal problems. The specific objectives are to:
- Develop and improve students’ understanding of Economics at various stages of development.
- Develop the students’ critical judgment, their ability to observe, understand, analyse and synthesize data on socio-economic problems using economic methods and technologies.
- Produce appropriate environment that enables the students to raise their level of creativity and promote the spirit of self-reliance.
- Create an atmosphere for desirable behavioral changes which would help to develop values that are in consonance with the national objectives such as hard work, probity, commitment, patriotism and discipline.
- Isolate relationships among observable data which will provide an explanation of various events and facilitate predictions of the reactions which are likely to occur in response to change in particular data.
These principles guide empirical research in explaining actual behavior in the economy and in providing basis for economic policy.
- Provide, through intensive teaching and in depth research, the needed high level manpower for our institutions of higher learning.
(c) Admission Requirements:
A candidate seeking admission to run B.Scprogrammein Economics has to satisfy both university minimum entry requirements and departmental requirements. The basic entry requirements into Department of Economics are clearly spelt out by the NUC and further elaborated in Hezekiah University General Academic Regulation and Rules. Admission is usually through University Tertiary Matriculation Examination (UTME), Joint University Preliminary Examination Board(JUPEB), Direct Entry, Inter University Transfer and Inter-Departmental Transfer
For admission through UTME, candidates must possess five O’level credits in SSCE, GCE, NECO or their equivalent. These credits must include English Language, Mathematics, Economics and any other two subjects in not more than two sittings.
UTME subjects must includeEconomics,Mathematics and any of Government, History, Geography, English Literature, French,and Christian Religious Knowledge. In addition, the candidate must have acceptable scores in the Unified Tertiary Matriculation Examination(UTME).
Candidates for Direct Entry admission in addition to satisfying the above-mentioned basic requirements mustpossess at least two “A” level passes in Economics and any one of Mathematics, Statistics, Geography, Physics, Chemistry, Agric. Science, Accountancy, Business Management, History and Government or any of the following qualifications: NCE from a recognized college of Education, ND or HND from recognized Polytechnics,B.Sc. from recognized university.
Candidate with JUPEB must possess minimum of 5 credits at minimum of two sittings in at least 5 subjects (English language inclusive) relevant to the Economics Department which forms the basis for the candidate’s admission into Joint University Preliminary Examination Board (JUPEB) Programme. The candidate must have undertaken JUPEB foundation courses relevant to the department such as Economics, Accounting, Business Studies and Government in a minimum of an academic session of two semesters. The candidate must successfully meet up with the acceptable score/pass for the admission into the department as specified by the university and JUPEB regulations