2. EXAMINATION STRUCTURE
• SECTION A: Two Questions Answer 1
• SECTION B: Five Questions Answer Three
• NOTE: Section A involves mathematical
analysis while section B Essay.
3. MARKING SCHEME
• SECTION A: 22% for any one question
answered.
• SECTION B: 16% for each question.
• CONTINUOUS ASSESSMENT: 30%
Lecture Participation
Lecture Attendance
Assignment on SDGs
4. TOPICS COVERED
INTRODUCTION TO ECONOMICS
Definition of Economics
Scarcity concept
Scope of Economics
What is Agricultural Economics
What does Agricultural Economist do?
STATISTICAL ANALYSIS IN ECONOMICS.
2.1 Introduction to the concepts of Statistical
studies
2.2 Central Tendency
2.3 Curves in Economics
2.3.1 Production possibility curve
2.4 Calculation of National Income
2.5 Calculation of Balance of Payment
2.6 Introduction to Cobb Douglas production
function
DEMAND AND SUPPLY (INTERACTION OF
MARKET FORCES)
3.1. Concept of demand
3.2 Determinants of demand
3.3 Movement along and shift in demand
3.4 Demand functions
3.5 Supply concepts
3.6 Market equilibrium
• GROWTH AND DEVELOPMENT
4.1 Economic growth, Factors, Measurement
4.2 Economic development
4.3 Rostows stages of growth, neoclassical
growth theory, solow, Lewis, vicious circle
theory.
4.4 Introduction to sustainable development
AGRICULTURE AND THE INTERNATIONAL
MARKET/WORLD
6.1 Introduction to international Trade/Business
6.2 Economic Integration
5. TRIAL QUESTIONS
1. State 3 Economists and give their definition of economics?
1b. What is your own understanding towards their definitions?
2. Professor Lord Lionel C. Robbins gave the most accepted definition of economics which state
“The science which study human behavior as a relationship between ends and
scarce means which have alternative uses” elucidate?
3. Hermione with Le 100,000 cant afford to buy a pair of shoe and a bag which
cost Le 80,000 and Le 70,000 respectively. Explain the concept of scarcity and
the three causes of scarcity?
4. Mr. Harry Robert Johnson is an Agricultural Economist working in the
Ministry of Agriculture.
a.) What is Agricultural Economics?
b.) What is the role and responsibilities of an Agricultural Economist?
6. 5a. What is a production possibility curve?
5b. What are the reason for the outward shift and the inward shift of the curve?
5c. State two other names for the curve?
6. Question of variance and standard deviation
7. In 2034 the government of Sierra Leone focus on the exportation of goods and
services which are produce within the nation and it export Le 150,000 worth of
goods and import Le 45,000 worth of goods and services, this at the end of the
year increases the Gross Domestic Product of the nation.
7a. What is GDP?
7b. Calculate the net balance of the nation in 2034?
7c. State and explain the parameters in the calculation of NATIONAL INCOME?
7. 8a. What is the law of demand?
8b. With the use of a graph paper construct a demand curve of the table above?
8c. What are the reason that the law of demand do not hold?
9. Economics is divided into two main branches which are Macroeconomics and
Microeconomics explain?
10. Explain 5 for each the determinant of demand and supply?
11. With the use of a graph explain the concept of a shift in demand?
8. 12. The price of rice in 2000 was increased from Le 40 to Le
50 and the quantity bought per week by a consumer decreased
from 160 bags to 80.
1. Present the above in a table
2. Calculate the co-efficient of price elasticity of demand
13aWhat is Economic growth and Economic development?
13b. What are the indicators of growth and development?
14. What are the factors affecting Sierra Leone to grow and
subsequently leads to development?
15a. What is sustainable development?
15b. What are Rostows stages of economic growth?
9. 16. From you assignment relate the Sustainable development goals to sustainable
Agriculture in Sierra Leone?
17. Solow used the cobb-Douglas production function to determine production,
state the function and explain the added value of technology?
18. As an agricultural economist what do you think are the benefits of
international trade?
19a. How will autarky state affect agriculture Production?
19b. What theory of international trade encourage government to protect infant
industries and what impact will it create towards the economy ?
20. Economic Integration is an important tool for any nations; elucidate vividly
the impact of economic integration towards agriculture?
