Economics Department Rsu Chapter

The truth is that God the Father
has a plan, set in stone, for each
and everyone of us.

No one can stop God’s plan for
your life or mine not even the
enemy.

God has had a plan for us since
the foundations of the world,

An eternal plan for mankind that
was revealed in the person of
Jesus Christ.

Because we are united with Christ,

we have hope and a future and
hope does not put us to shame
because God’s love has been
poured out into our hearts
through the Holy Spirit,

who has been given to us
Romans 5:5.

I AM WHO GOD SAID I AM ✊✊✊

Anticipate......
Don't miss out.

*NIGERIAN ECONOMICS STUDENTS ASSOCIATION* {NESA}
*RIVERS STATE UNIVERSITY CHAPTER*

```DESK OF THE```
*STAKEHOLDERS NESA*

Distinguished Colleague, Member's of NESA, Unique Star 🌟 Ladies and Handsome Gentlemen of the aforementioned Body.

As we all know *"Education is one of the Key to Success"*
And your First Examination in a tertiary institution begins tomorrow the *Number 4 Day of July 2022,* Silver and Gold we can't Give to all the *DE:2021* Students but Words of Encouragement and Word's of Wisdom we *MUST* Share with you all.
```Knowledge is power```
*(LISTEN 👂👂👂)*
Try Not to be stingy in an Examination HALL OoOo.
For those that Knows 👇
Even the Bible said; _Give and it shall be given unto you._
For those that Don't know remember 👇
*Matthew 7:7* Ask and it *SHALL* be *GIVEN* unto You.

_Note:-_
There's a Popular Saying that *“Practice makes perfect.”* – All that you Practice while Reading/Studying, you will have to Perfect it in an Examination Hall.

An investment in knowledge pays the best interest. -- *_Rsu Adam Smith_*

👉 *SAY NO TO DAGBO* 👈
And *FEAR NOT*
For We Care Much About You All.

LONG LIVE *DE:2021* *EXAMINER'S*
LONG LIVE *NESA*
LONG LIVE *SOSSAN*
LONG LIVE *LEADER'S*

Signed:-
*COMR. AMB. 🤴 PRINCEWILL PREBO RICHMAN ASL 🇳🇫*
```Stakeholders Chairman Nesa Rsu Chapter```

*COMR. CHUKWU M. NKECHI*
```Stakeholders Secretary Nesa Rsu Chapter```

*COMR. KINGSLEY M. MICHAEL*
```Stakeholders Mouthpiece Nesa Rsu Chapter```

Comr. Progress Saturday Kiisi
(A little Fine Girl)
Secretary General Elect
First Female Secretary General
Nigerian Economics Students Association
Nesa Rsu Chapter

Comr Israel Ndubuisi
President Elect
Nigerian Economics Students Association
Nesa Rsu Chapter

2nd Paper
Economics Year 3
1st Semester
2020/2021

First Paper
Economics Year 3
1st Semester
2020/2021

Please be informed ; The 11th NESA National Conference is scheduled for June 30th - 2nd July 2021
Venue: University of Port Harcourt

With a registration fee of 12,000 naira only
Which covers for
hotel accommodation
Feeding ( breakfast, lunch and dinner )
Conference materials( certificate, bag, jotter, pen, T-shirt
Tag)
Dinner and award night
Pool party
Debate
Paper presentation
Quiz
Canival
Indoor games
Football competition
And many prizes and awards to be won
Note: Without accommodation 7,000naira only.
Acc NO: 6220038031
Acc Name: NIGERIAN ECONOMICS STUDENTS ASSOCIATION
Bank: FIDELITY BANK
Thanks for your Usual Cooperations
www.nesanational.com

SYLVESTER CLARA
National President

Home | NATIONAL BODY NESA | Nigerian Economics Students Association NESA NATIONAL BODY. Students Association of Economics. Nigerian economics students association.

Your all Invited...

HAPPY BIRTHDAY

Merianda Nze-igweMerianda Nze-igweMerianda Nze-igwe

DEPT OF ECONOMICS CELEBRATE YOU TODAY.

HAPPY BIRTHDAY TO AN ECONOMIST.
Otiki Emmanuel.
Shine More & More.

HAPPY BIRTHDAY TO THIS BEAUTIFUL LADY IN THE DEPARTMENT OF ECONOMICS.
Tyra Blaze
Kalabari born - Abonnema Child.

Courtesy:-
Nesa Rsu Chapter

Happy birthday to this Beautiful Kalabari Fish in Economics Department.

AmayanaboTa
Comr Lillian Robert.

Courtesy:
NESA RSU CHAPTER!!!

MORNING TEA

FRIDAY 1ST JANUARY 2020

YOUR APPOINTED TIME

TODAY'S SCRIPTURE

"For the vision is yet for an appointed time...though it tarry, wait for it..."
(Habakkuk 2:3, KJV)

TODAY'S WORD
God has an appointed time to fulfill the visions, dreams and desires in your heart. Just because it has taken a long time or because you have tried and failed doesn't mean that it's not going to happen. Don't give up on those dreams! Don't be complacent about pursuing what God has placed in your heart. Our God is a faithful God. No matter how long it's been, no matter how impossible things looks, if you will stay in faith, your appointed time is coming.

Remember, every dream that's in your heart, every promise that has taken root, God put it there. Not only that, but He has every intention of bringing it to pass. Hold on to that vision today and declare, "My time is coming. God is working behind the scenes on my behalf. I will fulfill my destiny!" As you hold on to your vision and speak life over your dreams, you will see them begin to take shape. You will see your faith grow; you will see your hope strengthen, and you will see yourself step into the appointed time God has for you!

PRAYER FOR TODAY

Father, thank You for setting an appointed time for me. I ask that You ignite my heart with Your holy fire so that I can pursue Your perfect plan for my life. Make my thoughts and words agreeable to Your will in Jesus' name. Amen.

KEEP GOOD RELATIONSHIP!!!

HAPPY NEW YEAR

Comr Princewill Prebo

Keep Good Relationship

Comr Princewill Prebo

CONDITIONS THAT MAKES A FIRMS NOT TO MAXIMIZE PROFITS
BY: EDE KENECHUKWU KENNETH. EMAIL: [email protected]

There are two main reasons why firms do not maximize profits. Firstly, they may be unable to pursue this objective because of organizational or informational problem. Secondly, they may choose to follow some alternative objectives.
The modern corporation is a complex organization producing many goods, hence information on economic (as distinct from accounting) costs and revenues associated with producing a specific commodity may be impossible (or very costly) to obtain. So, even if firms want to maximize profits, they may not be in a position to do so, because the information on marginal cost and marginal revenue is lacking.
In sympathy with this argument, some economists have suggested that entrepreneurs, realizing they cannot maximize profits, pursue a full cost pricing policy. This hypothesis states that firms calculate average total costs and add a percentage mark up to determine selling price. Sales are then determined by market demand, thus output, but not price, responds to changes in demand. This form of price setting however, has to a certain extent been institutionalized in the country by the operation of the price code, which only allow price rise if costs have increased.
A second argument against profit maximization is advocated by some economists who argue that the organization of a modern corporation affects its output and pricing policy. Decisions are arrived at by compromise between conflicting groups within the firm. This has been developed into a theory of “satisficing”, where are assumed to be concerned with achieving minimum values of such target variables are profits or market share, but do not attempt to maximize any single objective. These minimum targets may be achievable over a relatively large range of price and output combinations, so no unique equilibrium is derivable from this theory.
A company is owned by its shareholders, but controlled by its managers. This separation of ownership from control leads to a conflict between the aims of share holders and the aims of managers. The shareholders would prefer the firm to follow a policy of profit maximization. The managers are interested in other things: their salaries, and power within the company (which is related to the size of the firm and its rate of growth); and perhaps attaining some minimum level of profits or market share sufficient to keep the shareholders content.
One hypothesis which accommodates this behavior is the sales maximization theory. Here, it is assumed that firms set out to maximize sales revenue, subject to earning a minimum level of profits. Revenue is maximized when marginal revenue is set equal to zero (rather than equal to marginal cost as in the case of profit maximizer). Assuming the minimum profit constraint is not binding then the sales revenue maximizer will always sell higher output at a lower price than a profit maximizer. This is illustrated in the diagram below. Given demand and cost conditions, the price that a profit maximizer would set (Ppm) lies above that of a sales maiximizer (Psm). Also the profit maximizer’s output (Qpm) is less than the sales maximizer’s (Qsm).

AN ANALYSIS OF AGRICULTURAL POLICY – COBWEB
MODEL
BY: EDE KENECHUKWU KENNETH
EMAIL: [email protected]
Agricultural goods are subject to variations in production for a variety of natural reasons. Excess rainfall, drought, pests and disease occur sporadically to cause differences between the planned output and that actually harvested or produced. Now, the demand for foodstuff is typically inelastic, so that shortages will force up prices considerably and gluts will produce very low prices. If the elasticity of demand is – 0.25, for example, then when production falls by 10%, prices rise by 40%. This inherent instability has given rise to a history of government intervention in agricultural markets.
The objectives of such intervention have varied from time to time but two of the most popular advocated have been to stabilize either food prices or farmers’ income. Assuming the demand curve is relatively stable, price and income fluctuations will be caused by supply fluctuations. A simple way for the government to keep food prices constant would be for them to establish a “Buffer Stock”. Then in the time of scarcity when the shortage would have caused prices to rise the government releases sufficient stocks to keep the market price constant. In years of bumper crops, when the excess supply would have reduced prices considerably, the government adds to its stocks, again so as to maintain constant market prices.
Fig. below shows the level of planned output for each market price. D is the relatively inelastic market demand curve. P1 and Q1 represent the average market price and quantity sold respectively. When the actual output increases say to Q2 the government buys (Q2 – Q1) to add to its stocks. When output falls below average, say to Q3 then the government releases (Q1 – Q3) to be sold on the market.
This policy stabilizes farm prices completely at P1 and given this would have been the average equilibrium price, the government can successfully operate this system indefinitely, provided it is prepared to subsidize the scheme to the extent of covering the costs to storage, which are not recovered elsewhere.

The effect of such a price stabilization policy on farmers’ income may be seen as follows: whatever the level of current output, the farmers either sell it on the market at price P1, or the government buys it to add to the buffer stocks, again at a price P1, i.e. the farmers face a perfectly elastic demand curve at a price P1. Thus, their income which is the total revenue (P x Q) they earn on the output they sell is directly proportional to the current output level. In poor years, their income will be low (as output is low), in good years, their output will be high (as output is high). Note that this effect on farmers’ income is the opposite of what would happen if the government had not intervened.
In order to stabilize farmers’ incomes, the government should stabilize their total revenue. If the farmers faced a demand curve for their product which was unitary elastic then their total revenue would be constant as the effect on revenue of quantity changes would be offset by compensating price changes. As we have said that market demand curve for agricultural goods is typically inelastic.
If the government chose to stabilize farmers’ income at their average level, i.e. at TR = P1Q1 in the fig above, then when fluctuation in output occur they must allow the market price to vary in the opposite direction by the same percentage amount, by adding or subtracting from their buffer stocks. Thus the actual demand curve facing producers D’ is unitary elastic and differs from the market demand curve D by the extent of government purchases or sales (the horizontal difference between D’ and D).
To maintain farmers’ income constant, when production falls to Q3 we require a price P5 (since P1Q1 = P5Q3 as both points lie on the same unitary elastic demand curve). At a price P5, the market demand exceeds the producers’ output by an amount (Q5 – Q3), which the government must release from its buffer stock.
Stabilizing farmers’ incomes in this way reduce fluctuations in prices which would be observed in free markets and also may show an operating surplus. The government would add to its stocks when prices are low, and sell from them when prices are high. If storage costs are not excessive, this scheme will be profitable.

IE YOU DESIRE IN ENJOYING EVERLASTING FAVOUR SOMETIMES WORK ON YOUR CHARATER.

A policy framework for mitigating the economic impact of COVID-19.

COVID-19 is a unique, severe, and unprecedented health and economic crisis that is changing our lives. Three things make it unique. First, it is a rolling combination of a health pandemic and an economic crisis. Second, the crisis has turned global in record time. Third, it is both a demand and supply side shock to all the major economies. The damage caused by the virus and the policy responses it requires are deep and multifaceted. Its effects can be grouped into three categories:
1. Human suffering. The rapid loss of life and deterioration of health outcomes, but increasingly also economic suffering through loss of jobs and other incomes. In a little over three months, more than 300,000 people have died and more than 6 million have been infected. As small and medium enterprises are hammered by the lockdowns, many workers have lost their jobs or are working on reduced work schedules. If the economic suffering is prolonged and as deep as expected, this will hurt people—especially the poor—in other ways as well, such as education, indebtedness, and nutrition.

2. A severe global economic recession. It is now a foregone conclusion that the global economy will slip into a recession in 2020. What we don’t know is how deep, long, and widespread the contraction in economic activity is going to be. As a result of the unprecedented sudden stop in global economic activity, 2020 is on track to witness the deepest global recession on a scale not seen since World War II. At the World Bank, we are projecting GDP to contract in all developing regions (ECA, LAC, MENA and Africa) except Asia. Even in Asia, the sudden slowdown will feel like a recession.

3. Deep financial and corporate sector distress. The financial and corporate sectors are likely to suffer large scale deterioration. Markets have taken a big hit, financial systems are under stress, and banks are likely to see huge pressures on their balance sheets

“Success consists of going from failure to failure without loss of enthusiasm.” –---

E go follow you till you graduate.
Great Economist.

Update Update Update!!!
Rivers State University *Rsu*
Returning students fee 2019/2020

Portal access 3400
Tship fee 2400
Faculty/Department association Dues 5400
SUG dues Returning Students 1900

Professional Development fee(Depends on department)

*SCHOOL FEES*
*Law*
Indigence 60,400
Non indigence 110,400

*Engineering*
Indigence 60,400
Non indigence 110,400

*Sciences*
indigence 55,400
Non indigence 90,400

*Management*
Indigence 55,400
Non indigence 90,400

*Environment Science*
Indigence 55,400
Non indigence 90,400

*Agriculture*
Indigence 55,400
Non indigence 90,400

*Technical and Science Education*
Indigence 55,400
Non indigence 90,400

*Social Science*
Indigence 55,400
Non indigence 90,400

*Humanites*
Indigence 55,400
Non indigence 90,400

What is Zero?
ELASTICITY OF DEMAND !!!

ALL ECONOMISTS ARE ACCOUNTANTS,
BUT NOT ALL ACCOUNTANTS ARE ECONOMISTS.
State whether the statement above is true or false with Reason.

THE Journey of Love
And
The Race is On!!!