The module is will help students to develop the basic management principles relating to crop, livestock, financial, and machinery management, understand the strengths and weaknesses of production systems and the factors affecting production, develop skills for business planning and evaluation. It has 2 components: Fundamentals of Business Management and Farm Operation management
Introduction
The module of Managerial and Decision Tools has two components. Mathematics for Economist is taught in Year 2 RD, Year 2 AGEC and Year 2 Agribusiness in Trimester I. Mathematics for Economists component introduces students to the general aspect of algebraic notations, mathematical calculus and mathematical analysis. It will strengthen students' capability to understand and solve probability business and Economics problem using basic mathematics concepts. The main objective of this module is to become familiar with basic knowledge of fundamentals of mathematics applied in economics; Develop tools and techniques used in decision theory in economics, Develop software programming language and apply software in problems solving.
Learning Outcomes
Having successfully completed the module, students should be able to:
- Understand mathematical and statistical models explaining social behavior
- Improved critical thinking capacity
- Improving the mathematical tools in economics and more particularly in development economics
- Manipulate Data using various software
Module contents
Indicative Resources:
The following textbooks are recommended for reading:
- Carl P.Simon.1994. Mathematics for Economists. London
- Alpha C. Chiang.1984. Fundamental Methods of Mathematical Economics. Third edition. McGraw-Hill, Inc.
- Mike Rosser. 2003. Basic Mathematics for Economists. 3rd Edition, London.
- Ian J. (2003). Mathematics for economics and business. Fourth Edition Ohio. USA.Mukras 2004.
- Gilat A. 2011. MATLAB. An Introduction with Applications. Fourth edition. Ohio.USA
- Ian J. (2003). Mathematics for Economics and Business. Fourth Edition. Pearson Education, Malaysia
- Mukras. 2004. Elements of Mathematical Economics. Kenya Literature Bureau. Nairobi. Kenya
- Mukras. 2011. Advanced Mathematical Methods for Economics. Kenya Literature Bureau. Nairobi. Kenya
- A course in statistics with R. John Wiley & Sons, Ltd. ISBN: 9781119152729
The module has two components called " Intermediate macroeconomics and Intermediate macroeconomics" The main objective of the module is to be familiar with analysing how individual behaves on markets of goods and services when they are constrained by their limited resources. This module provides students with a thorough analysis of the intermediate macroeconomic theory concerning aggregate expenditure functions, expectations, inflation, economic growth and open-economy macroeconomics. The module also highlights how individual or a firm make decision on perfect competition or their strategies taken when operating on imperfect markets.