Background of the Department

Raya university established by the government of Ethiopia (council of ministers, Regulation number 357/2016) as an autonomous higher education institution in Maichew at a distance of 668 km north of Addis Ababa. Currently the university has five colleges and 18 departments. Out of the 18 departments this is the background of Department of Economics.

There are fundamental facts that each society faces the basic economic problem of scarcity i.e., resources are scarce and human wants are unlimited. This imbalance necessitates efficient allocation and utilization of the scarce resources in a way that maximize the benefit of the society. A country with a sufficient amount capital, human and other natural resources may remain poor unless it has competent economists to combine and coordinate these resources. This requires understanding of three issues, i.e., how individuals make decision? How people interact?  and how the whole economy works? Economics deals with the three issues rose. Alternatively, Economics is the science concerned with how society best allocates and utilizes its scarce resources to maximize its benefit. It is plain fact that given the scarce resources to satisfy all societal want, nations need to know how to efficiently allocate and utilize their scarce resources and Economists can help in this regard.

Hence, a developing country like Ethiopia needs economists (Macro – policy makers) to address economic policy formulation, economic advice, preparation, implementation, monitoring and evaluation of projects. Firms or business enterprises need economists (Micro – policy makers) as decision makers in selecting production techniques for the optimal level of output. In marketing, they work out supply-demand analysis.

Several great issues that confront us today-unemployment, inflation, environmental problems and poverty- have economic roots. In order to diagnose and remedy these ailments, we must first understand their complex nature. Economics helps us in this regard and it enable us prescribe remedies. In general, it is of no doubt that the study of Economics can illuminate much about the world and that the lessons learned if properly applied can make the world a better place to live. Beside economically literate citizens, because they possess an understanding of economic generalizations and concepts, will enjoy a more complete understanding of their world, be able to make reasonable decisions, and be more fully in control of their economic future".

Owing to these facts, the program in Economics will be of great significance in producing citizens that try to better understand how the economy works and more importantly how to affect the economy through economic policies in a way that the society desires.

   

Mission of the Department

The mission of the department is enhancing the intellectual and economic validity of our country through our academic program, research and community outreach activities.

 

Vision of the Department

Vision of the department is to be one of the top departments in the nation and be exemplary through the provision of quality education in economics subject areas, research& consultancy service by 2023 EC.

 

Program Objectives

General Objectives of the program:

  • The aim of the program is to produce high level professionals in Economics that will benefit the country’s sustainable economic development.
  • The program offers students a comprehensive basis for professional and academic careers and further education in any economics specializations, through courses and thesis work.
  • Students will be equipped with a solid knowledge of economic theory as applied to development issues, natural resources, and other socio-economic issues concerning the developing countries in particular and the globe in general.
  • Work and communicate effectively with others on multi-disciplinary issues to develop practical, technically-sound, reliable and cost-effective mechanisms to solve complex and diverse development problems.
  • Generally, the department has the objective of producing high level qualified experts in different professions, launching different research findings to the advantage of the local/country, and providing consultancy service to the community that will benefit the country’s development endeavour, which will foster the Growth and Transformation Plan (GTP) of Ethiopia to reach the middle income countries in the near future.

 

Specific objectives of the program:

With these general objectives, the prime and specific focuses of the program is:

  • To produce Economists (Economic thinkers) with basic skills that would help to teach and do research in areas of economics.
  • To better acquaint the students with solid understanding of microeconomic theories, macroeconomic theories, and other economic issues for intelligent applications of economics in a way that improve the quality, relevance and output of undergraduates in economics in Ethiopia.
  • To equip the students with the necessary methodologies in economics that enable them explain the economic phenomenon, undertake economic analysis and design economic policy.
  • To highlight the different applications of economic theories in various sectors and expose the students to the different sub-discipline of economics [labour economics, agricultural economics, industrial economics, environmental economics, financial economics, etc.]
  • Produce graduates with a skill of planning, Project preparation, monitoring and evaluation.
  • To enable the students, undertake theoretical and applied researches relevant to the overall development strategy and vision of the country and address national problems of socio-economic roots; and disseminate research findings through outreach program.
  • To promote interdisciplinary collaboration among the various programs in training, research and extension.
  • To offer short term training courses and provides consultancy service for different organizations and community.
  • To show students how economic science evolved, its present and future vision of the field and make them up-to-date with the dynamism of the field.

 

The Expected Outcomes of the Program

Program outcomes outlined reflect a foundation of knowledge and skills that, if satisfied, provide graduates of the Economics Program with the tools needed to successfully achieve the above educational objectives. The program outcomes listed below have been developed during the preparation of the professional profile and are in line with local and international definitions. Each graduate of the program is expected to have the following skills after graduation.

  • Ability to apply knowledge of economic theory and quantitative economics to identify, formulate, analyze and solve economic problems.
  • Ability to design and conduct investigations to better understand and solve economic problems, and forecast global trends;
  • Ability to design a wide variety of development projects, including rural poverty reduction through off-farm income generation and employment creation schemes to the poor;
  • Ability to work as a productive and responsible member of a multi-disciplinary team.
  • Ability to effectively communicate both orally and in writing, the nature and solution to problems pertaining to environmental and natural resources;
  • Ability to understand and adhere to the highest standards of economics profession and ethics;
  • Ability to present and transfer economic knowledge to the target groups and to develop and build economic Models
  • Ability to develop and promote attitudes that advance the nation’s well-being in particular and the globe in general.
  • Ability to provide independent consultancy and advisory services for various agents.
  • Far sighted about Scio-economic and socio-political issues and
  • Above all be ethical, openly and objectively comments on economic policies, strategies and issues.

 

Entry and Admission Requirements

Entry and admission requirements to the program are particularly based on national level criteria. Admission to the program is based on students’ preference and their achievement in the national entrance examination.

Students who have successfully passed the national entrance examination may join the economics degree program based on their score, choice, and availability of space. Specifically, students with a demonstrated knowledge and skills in high school mathematics and economics have great advantage to join the program.

 

Staff profile

No.

Name

Education level

Area of specialization

Email

1

Dr. Nega Afera

Ph.D. Degree 

Developmental Economics

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2

Habtamu  Legese

MSc. Degree

Economic Policy Analysis

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3

Gebrelibanos  Hadush

MSc. Degree

Economic Policy Analysis

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4

Addisu Tadesse

MSc. Degree

Environmental and Natural

Resource Economics

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5

Yergalem Desta

MSc. Degree

Natural Resource &

Environmental Economics

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