FrancisAre you searching for JAMB Syllabus For Economics to prepare for your forthcoming examinations?
Then you’ve come to the right place.
The JAMB Syllabus for Economics is a guide that helps students prepare for the UTME Economics exam.
It outlines the topics, key concepts, and objectives that candidates must study.
The syllabus covers areas like demand and supply, market structures, money and banking, national income, inflation, and international trade.
Using this syllabus ensures students focus on relevant topics, improving their chances of scoring high in the exam.
Grab a chilled glass of water and keep reading….
ALSO READ: Government JAMB Past Questions And Answers PDF Download
JAMB Syllabus For Economics
The aim of the UTME 2025 syllabus in Economics is to prepare candidates for the Board’s examination.
It is designed to test their achievement of the course objectives, which are to:
- Demonstrate sufficient knowledge and understanding of the basic concepts, tools, and their general applications to economic analysis.
- Identify and explain the basic structures, operations, and roles of the various economic units and institutions (national and international).
- Describe major economic activities—production, distribution, and consumption.
- Identify and appraise the basic and current economic problems of society.
- Develop the competence to proffer solutions to identified economic problems.
1. Economics as a Science
Topics:
- Basic Concepts: Wants, Scarcity, Choice, Scale of Preference, Opportunity Cost, Rationality, Production, Distribution, Consumption.
- Economic Problems:
- What, how, and for whom to produce.
- Efficiency of resource use.
- Application of PPF (Production Possibility Frontier) to economic problems.
Objectives:
Candidates should be able to:
i. Compare various economic concepts and their applications.
ii. Interpret graphs/schedules in relation to economic concepts.
iii. Identify economic problems.
iv. Proffer solutions to economic problems.
2. Economic Systems
Topics:
- Types of Economic Systems: Free Enterprise, Centrally Planned, and Mixed Economies.
- Solutions to Economic Problems under different systems.
- Contemporary Issues in economic systems (e.g., Deregulation, Banking Sector Consolidation, Cash Policy Reform).
Objectives:
Candidates should be able to:
i. Compare the various economic systems.
ii. Apply the knowledge of economic systems to contemporary issues in Nigeria.
iii. Proffer solutions to economic problems in different economic systems.
3. Methods and Tools of Economic Analysis
Topics:
- Scientific Approach:
- Inductive and Deductive Methods.
- Positive and Normative Reasoning.
- Basic Tools:
- Tables, Charts, and Graphs.
- Measures of Central Tendency: Mean, Median, and Mode (and their applications).
- Measures of Dispersion: Variance, Standard Deviation, Range (and their applications).
- Merits and demerits of the tools.
Objectives:
Candidates should be able to:
i. Distinguish between various forms of reasoning.
ii. Apply these forms of reasoning to real-life situations.
iii. Use the tools to interpret economic data.
iv. Analyze economic data using the tools.
v. Assess the merits and demerits of the tools.
4. The Theory of Demand
Topics:
- Meaning and Determinants of Demand.
- Demand Schedules and Curves.
- Distinction between Change in Quantity Demanded and Change in Demand.
- Types of Demand: Composite, Derived, Competitive, and Joint Demand.
- Elasticity of Demand:
- Types, Nature, and Determinants.
- Measurement: Price, Income, and Cross Elasticity of Demand.
- Importance to Consumers, Producers, and Government.
Objectives:
Candidates should be able to:
i. Identify factors determining demand.
ii. Interpret demand curves from demand schedules.
iii. Differentiate between change in quantity demanded and change in demand.
iv. Compare the various types of demand and their interrelationships.
v. Relate determinants to the nature of elasticity.
vi. Compute elasticities.
vii. Interpret elasticity coefficients in relation to real-life situations.
5. The Theory of Consumer Behaviour
Topics:
- Basic Concepts:
- Utility (Cardinal, Ordinal, Total, Average, and Marginal Utilities).
- Indifference Curve and Budget Line.
- Diminishing Marginal Utility and the Law of Demand.
- Consumer Equilibrium:
- Using the Indifference Curve and Marginal Analyses.
- Effects of Shift in Budget Line and Indifference Curve.
- Consumer Surplus and its Applications.
Objectives:
Candidates should be able to:
i. Appraise various utility concepts.
ii. Apply the law of demand using marginal utility analysis.
iii. Use indifference curve and marginal analyses to determine consumer equilibrium.
iv. Associate income and substitution effects.
v. Apply consumer surplus to real-life situations.
6. The Theory of Supply
Topics:
- Meaning and Determinants of Supply.
- Supply Schedules and Curves.
- Distinction between Change in Quantity Supplied and Change in Supply.
- Types of Supply: Joint/Complementary, Competitive, and Composite.
- Elasticity of Supply:
- Determinants, Measurement, Nature, and Applications.
Objectives:
Candidates should be able to:
i. Identify factors determining supply.
ii. Interpret supply curves from supply schedules.
iii. Differentiate between change in quantity supplied and change in supply.
iv. Compare various types of supply and their interrelationships.
v. Relate determinants to the nature of elasticity.
vi. Compute elasticity coefficients.
vii. Interpret coefficients in relation to real-life situations.
7. The Theory of Price Determination
Topics:
- The Concepts of Market and Price.
- Functions of the Price System.
- Equilibrium Price and Quantity in Product and Factor Markets.
- Price Legislation and its Effects.
- Effects of Changes in Supply and Demand on Equilibrium Price and Quantity.
Objectives:
Candidates should be able to:
i. Explain concepts of market and price.
ii. Examine functions of the price system.
iii. Evaluate effects of government interference in the price system.
iv. Differentiate between minimum and maximum price legislation.
v. Interpret effects of changes in supply and demand on equilibrium price and quantity.
How to Pass Economics in JAMB
Passing Economics in JAMB requires smart preparation, understanding key concepts, and practicing past questions. Follow these steps to increase your chances of scoring high:
Understand the JAMB Economics Syllabus
- The syllabus contains all the topics you need to study.
- Focus on key areas such as demand and supply, market structures, money and inflation, and national income.
- Download and print the syllabus for easy reference.
Get Recommended Textbooks
- Use official JAMB recommended textbooks to cover all topics.
- Some good options include:
- “Economics: Exam Focus” – Aderinto A.A et al.
- “Countdown to SSCE/JME Economics” – Fajana F. et al.
- “An Introduction to Positive Economics” – Lipsey R.G.
Master Key Economics Concepts
- Understand and memorize key definitions like demand, supply, elasticity, GDP, and inflation.
- Use mnemonics or short formulas to remember difficult terms.
- Examples:
- Elasticity Formula: Elasticity = % Change in Quantity / % Change in Price
- National Income Formula: GDP = C + I + G + (X – M)
Solve Past Questions Regularly
- JAMB repeats questions from previous years.
- Use JAMB CBT Apps and past question booklets to practice.
- Analyze answers to understand why an option is correct.
Take Online Mock Tests
- Mock exams simulate real JAMB conditions and help you manage time.
- Practice on platforms like Myschool, Pass.ng, and JAMB CBT Apps.
- Aim to complete each question in under 1 minute to finish on time.
Improve Your Speed and Accuracy
- Learn shortcut methods to solve calculations quickly.
- Example: Total Cost (TC) = Fixed Cost (FC) + Variable Cost (VC)
- Eliminate wrong options first when unsure about an answer.
Focus on Graphs and Diagrams
- Economics has many graphs and tables like:
- Demand and Supply Curves
- Production Possibility Frontier (PPF)
- Circular Flow of Income Diagram
- Learn how to interpret and analyze them correctly.
Manage Your Study Time Well
- Create a study timetable and stick to it.
- Spend at least 1-2 hours daily on Economics.
- Mix reading, practicing questions, and revising formulas.
Stay Updated on Economic Trends
- Read about Nigeria’s economy, inflation rates, and government policies.
- This helps in real-life application of Economics concepts in JAMB questions.
Stay Calm and Confident in the Exam Hall
- Avoid rushing through questions.
- Use elimination techniques for tough questions.
- Double-check answers before submitting.
Final Tip: Practice, Practice, Practice
The more past questions and mock tests you solve, the better your score will be.
✔ Follow these steps, stay consistent, and you will pass Economics in JAMB with ease!
RECOMMENDED TEXTS
- Aderinto, A.A et al (1996) – Economics: Exam Focus, Ibadan: University Press Plc.
- Black, J. (1997) – Oxford Dictionary of Economics, Oxford: Oxford University Press.
- Eyiyere, D.O. (1980) – Economics Made Easy, Benin City: Quality Publishers Ltd.
- Fajana, F et al (1999) – Countdown to SSCE/JME Economics, Ibadan: Evans.
- Falodun, A.B. et al (1997) – Round-up Economics, Lagos: Longman.
- Koutsoyiannis, A. (1979) – Modern Microeconomics, London: Macmillan.
- Lipsey, R.G. (1997) – An Introduction to Positive Economics, Oxford: Oxford University Press.
- Samuelson, P. and Nordhaus, W. (1989) – Economics, Singapore: McGraw-Hill.
- Udu E and Agu G.A. (2005) – New System Economics: A Senior Secondary Course, Ibadan: Africana FIRST Publishers Ltd.
- Wannacott and Wannacott (1979) – Economics, New York: McGraw-Hill.
ALSO READ: Use of English JAMB Past Questions And Answers PDF Download
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