The Mavens Class Of 2020

NESA DAY 2019.
DON'T BE TOLD......

*PRIVATISATION🗣*
*PRIVATISATION🗣*
*PRIVATISATION🗣*

We want you😭😢😢

Our sector is dying😭😭😭

We youths are on a journey of no destination😭

Our God given gift is being distributed all to the best of their interest 😩😫😩😫

Best hands with good white background typed documents are not employed.😭💔😭💔😭

Our sensible economist are not given a play on the pitch of this sector that needs a lot of us for it to thrive well.💔💔💔💔

Their daddy who has never and will never be my daddy are wallowing in riches while the populace are wallowing in abject poverty.💔😭

They've totally forgotten the place of our country. It has turn to their country.😭

Isn't it the same independence our daddies (I mean my daddy,the real people) worked to get.😭😭

Not the privatisation of atiku nor of osinbajo😢

We mean the real privatisation we read in books which is said to be loaded witb benefits😢

Privatisation come near to us as we draw near to you.😢😢😭😭😭😭😭

WRITES
AJIBADE TOBI JOSEPH
Tobjose ObaloluwaTobjose ObaloluwaTobjose Obaloluwa

*GOOD DAY FELLOW MAVEN⚡⚡⚡💪💪💪*

Hope we are good and hope we didn't forget the strike will still be called off no matter how long it lingers?

Hope you didn't forget we'll still be faced with questions;
like true false,uncertain?
Questions like agree,strongly agree strongly disagree?
O su Mi patapata Nig ltd
Ummmm
Barce and lona might also come to the pitch
Iya Adam's crises as well even though i don't know the other crises🙈😀
Hope you rember shumpeter? What about Austrian market process?
Ahhhh😩😩😩😩😩

Hope you didn't forget the steps in building that thing that threw us out like an eight day old child😄😄😄
You said it's model?⛹‍♂⛹‍♂⛹‍♂⛹‍♂ Maybe😂😂😂

Hope you didn't forget the static,dynamic and general equilibrium?
How far pareto optimality?🤨🤨🤨

Wetin sup with tatoo debate?
I'm sure you didn't forget the 'T' is teriba,the 'A' is ajayi...I'm sure you remember the rest🙃🙃🙃

Hope you never forget the cost of borrowing is the interest rate?
I need not tell you we have many interest rate in any economy.You remember treasury bill,deposit rates, rediscount rate or bank rate

😏😏😏
Ahn ahn and you said you remember, you must be a liar😋😋😛
Lending rate is not there jhor and you know it has two types prime and effective lending rate.

Wait o, I remember something🤫🤫🤫🤫🤫
I mean the financial intermediary that functions to solve the problem of adverse selection and moral hazard.

Do you still remember this simple arithmetic?
Borrowing + Financial intermediary = indirect finance
Borrowing - Financial intermediary = direct finance.

Baba wait oh🧒🧒🧒🧒🧒🧒🧒

Hope we haven't used play to forget that play away method is part of the teaching methods?
Because you're not given assignment now doesn't mean play away method had been remove. Remember,tutorial method,project method,field trip method, lecturing method are there too.

How far???🤪🤪🤪🤪

Sorry,drink water small😘😘😘👍👍👍✊✊✊

Let's move on󍀽򳀽򳀽򳀽򳀊
Do you remember that applied economics Is the application of economic theory and analysis and it involves the use of econometrics and case study.

N***a how far?
⛹‍♂🤼‍♀🤼‍♂⛹‍♂🤼‍♀🤼‍♂

You remember sey capital formation is also know as investment.

STOP🚷🚷🚷🚷

I remember something o🤒🤒🤒🤒🤒
I'm sure you know we have weak and strong sustainable development?

I'm sure you sef will not want to forget the three conditions conditions for utility maximisation😂😂😂😂😂
The first is when MUx/PX = MUy/Py
The second is MUx/MUy = PX/Py and
The third is M= Xpx+Ypy

😧😧😧😧😧😧😧😧😧
Ahnnnnnnnnnnn

Hope you didn't forget project cycle? I mean the series of stages a project must undergo during its life time.
It starts from it's birth to it's closure or exit phase.Since everything that has beginning must have end

😔😔😔😔😔
And with this let me too close the chapter of my 'atotonu' here .

Remember, questioning method is also part of teaching method but don't ask me because i dont know it too😍😍😍😍😍😍😍

*I LOVE YOU ALL AND I CANT CARES LESS ABOUT YOU*

WRITES

*WAGE INCREASE; ITS IMPACT ON NIGERIA ECONOMY*

Ummm, this is indeed a nice topic and as a matter of fact let me tell you I love my country and as a result should is say the impact of wage increment on my dear country.

Let's hit the nail on the head as we enlighten ourselves.

-----------------------------------

Wage Is defined according to English dictionary as; An amount of money paid to a worker for a specified quantity of work, usually expressed on an hourly basis.
It has a synonymous meaning as pay,salary,earnings etc.
In the contest of this writeup ,it is referring to salary but we'll be using wages up to the end of the write up.

Impact( A significant or strong influence; an effect.) can be positive or negative but in this writing we'll major on the negative effect of it.

Economy has many definition but we'll be using this; The system of production and distribution and consumption.

It is therefore worth saying the topic is the impact of minimum wage increment on production, distribution and consumption.

Let's take its impact one after the other as we follow.

Are you still reading?
Okay let's go...

*It's impact on production*

An increase in wage rate will increase the cost of production of goods and services I.e labour and as such, companies may decide to employ few workers. In some situations,they may lay off the workers they have and will as such reduce the capital-labour ratio required to produce certain quantity of products.
Producers as we know aims maximising their profit,which can be achieved when they have low amount of cost which is not achievable here.
To solve this,they will want to reduce the quality of the products they produce and which may have effect on the consumers.
Another effect it will have on production Is that,the producers will start to purchase more machinery to fit the place of labour and with also employ unskilled labour to man the machinery thereby reducing the number of jobs available in the economy.

*It's impact on consumption*

In a period of increased wages,the level of consumption by the consumers whose pay has now increased will go up.
As we know that an increase in income will leads to an increase in consumption expenditure. They'd be willing to consume more of the goods and services so produced.
Their mindset would have left the fact that the private sectors that are producing will also want their share of the increased wage rate.
For instance, a labour who pays #10,000 for her child's school fee will be thinking if her pay is increased,she'll be able to pay more and save. This doesn't work in real sense because the wages of workers are in one way or the other a determinant of price of commodities. As the proprietor of such schools gets to know that there is an increase in the wage rate,they'll in no doubt increase their school fee.
Why?
Because their staffs also want increase in their salary too and at the end we will see that the said increase has leveled back to its normal state.
We should care to ask ourselves about the number of wage increments we've had in times past,during those times I know workers will be rejoicing but let's ask ourselves what happens to the money.

Some people said there should be increase in wage rate as a result of recession.It's a good one but have we forgotten the place of inflation. Our country is already faced with inflation. Increasing wage rate will in no doubt worsening the situation.

Then what can then be the way out of the mess we are in this country?
The best answer is creation of an enabling environment for everyone as this will reduce the cost of production and the welfare of the entire citizenry.
Another thing we should focus in is wealth creation through small and medium size firms and other revitalising sectors like agriculture so as to create more wealth instead of us wanting increase in wages thereby borrowing more and reducing wealth creation.

I say, if we can focus on creating an enabling environment and also wealth creation we'll be better off.

I drop my pen here.

writes

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We honourably welcome everyone here.

We hope we'll make this place worthwhile for everyone and get to build ourselves,share ideas and learn new things.

Once again you are welcome

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