Economics is the study of how economic units such as households, firms and government make decision in the face of limited resources to satisfy their needs. It helps one understand the functioning of the entire economy. The Economics programme at Covenant University is the leading programme in West Africa and one of the best in Africa going by the recent Times Higher Education Ranking placing the Economics and Business programme in the top 500 globally. The programme covers all major aspects of economics including Financial Economics, Development Economics, Monetary Economics, International Economics, Labour Economics and Energy Economics, among others.
Economics as a programme at Covenant was initially in the Department of Strategic Studies in 2002 with an initial staff strength of 5 academic staff and 153 students. In September 2004, the program was later housed in the Department of Economics and Development Studies. The programme boasts of quality academics who are experts in their fields, this is reflective in the relevance of the graduates of the Department who blaze the trail in their endeavours Hence, the expertise in the programme cuts across the different spectrum of research in Economics. The Economics programme aims at equipping its students with the requisite state-of-art knowledge in economic theory and tools that prepares them for solution-driven contributions to their community, nation and the world at large. It also prepares students for postgraduate study in Economics and diverse areas of Business and Social Sciences.
As a programme in the Department of Economics and Development Studies, the specific objectives of the Economics programme at Covenant are as follow to:
- train students to become expert thinkers and manager who will, through exposure to economic principles and techniques, provide policy prescriptions that are adequate for the resolution of economic challenges;
- develop in students the ability to apply acquired analytical tools and skills in solving societal problems;
- prepare students for the world of work in firms, factories, organizations and self-employment;
- provide students with tools to enable them think analytically through exposure to all areas of economic analysis (verbal, graphical and mathematical) in order to engender meaningfully contribution to economic policy formulations and implementations; and
- train students to be highly knowledgeable in the Nigerian economic structure and history in relation to the international economic environment.
The alumni currently employed in different sectors cutting across private, national and international organizations both in Nigeria and abroad. The graduates from the Department topped the Presidential Scholarship award for the Nigerian University First Class graduates, having produced five out of the nine awardees from all Nigerian Universities in 2013. Also, students from the programme won the maiden edition of the Chattered Financial Analyst (CFA) Institute equity challenge in Nigeria in 2018 and later went to represent Nigeria in Dublin, Ireland. To increase the students’ job prospects, they are encouraged to go on excursion and internships in top private, national and international organizations.
The basic requirements for entry into a BSc degree in Economics include five SSCE credit in English Language, Mathematics, and any other three Social Science or Science based subjects. In addition, a pass in Unified Tertiary Matriculation Examination (UTME), and Covenant University admissions screening are required.