Entrepreneurial Economics: A Systematic Review of an Emerging Field of Study in Nigeria

By: Israel O. Imide, Ernest Jebolise Chukwuka

Pages: 347–356, Volume: 2, Number: 2

Published by: AEFUNAI Journal of Economics, Finance and Development Studies, Alex Ekwueme Federal University, Ndufu-Alike, 9/1/2025, 2025

ISSN (Electronic): 2536-6742

DOI: 10.48028/iiprds/aefunaijefds.v2.i2.18

Entrepreneurial Economics: A Systematic Review of an Emerging Field of Study in Nigeria

Abstract:

This study investigated Entrepreneurial economics as an emerging field of study in Africa to ascertain its viability and inclusiveness as a course of study as well as in cooperating it into Economics and Entrepreneurship curricula due to its overwhelming significance in driving economic growth and sustainable development. The study adopted a systematic review of literature of related topics in order to determine the nature of connections and comprehend the motivations, viewpoints, theories, empiricism, and opinions of scholars and findings using JSTOR, Google scholar, PubMed and researchgate. The study found that the importance of entrepreneurial economics lies in its ability to stimulate economic growth, innovation, and job creation. The introduction of new goods, services, and technologies by entrepreneurs boosts competitiveness and productivity. Additionally, they are essential to the growth of communities, the generation of wealth, and the lessening of regional imbalances. The results of this study also showed that by concentrating on the processes of innovation, opportunity recognition, and the systemic elements that support entrepreneurship, entrepreneurial economics constitutes a novel and unique area that tackles the shortcomings of conventional economic models. It is distinguished by its multidisciplinary aspect, emphasis on ecosystems, and applicability to current economic issues including job creation and technological advancement. In conclusion, entrepreneurial economics promotes evidence-based, tailored policies that optimize entrepreneurship’s contribution to economic growth and sustainable development by addressing the various needs of entrepreneurs, promoting ecosystem development, lowering social and gender barriers, and utilizing innovation and education. The study also concludes that Entrepreneurial economics possess every requirement of a full course of study and should be integrated into Economics and Entrepreneurship curricula.

Keywords: Entrepreneurial economics, Systematic review, Small and Medium Enterprises (SMEs), Nigeria