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WHAT IS SYLLABUS?
A syllabus (/ˈsɪləbəs/;
plural syllabuses or syllabi) or specification is a document that communicates
information about a specific academic course or class and defines expectations
and responsibilities. It is generally an overview or summary of the curriculum.
A syllabus may be set out by an examination board or prepared by the tutor or
instructor who teaches or controls the course. In the case of Economics jamb
syllabus, it is an official document containing outlines of relevant topic as
mark out by Jamb (link) to aid student preparation for the unified tertiary
matriculation examination simply known as UTME.
BENEFIT OF USING ECONOMICS JAMB SYLLABUS
Easy Combat: Economics
Jamb syllabus contains RELEVANT AND HOT TOPICS to help you combat
conundrum question you will found on your system in the Exam Hall, and believe
me sincerely jamb examiners are very technical, logical and … when it comes to
setting question.
Familiarizing yourself with the Economics jamb syllabus is a
sure bet to scoring high in jamb.
Studying the syllabus thoroughly before exam gives you the
confidence that you are studying the right thing the right way at the very
right time.
HOW TO GET THE MOST OUT OF THIS COURSE.
1.
Read from cover to cover, from topic to topic
2.
Create a study schedule.
3.
Attend jamb tutorials.
4.
Brainstorm with friends
5.
Have a positive mentality that you will come out
in flying colours
ECONOMICS JAMB SYLLABUS GENERAL OBJECTIVE.
The aim of the Unified Tertiary Matriculation Examination
syllabus in Economics is to prepare aspirant of various higher institution in
Nigeria whether university, polytechnics, monotechnics & colleges of
education for the Board’s examination. It is designed to test their achievement
of the course objectives,
Which are to:
1. Demonstrate sufficient knowledge and understanding of the
basic concepts, tools and their general applications to economic analysis;
2. Identify and explain the basic structures, operations and
roles of the various economic units and institutions (national and
international);
3. Describe major economic activities – production,
distribution and consumption;
4. Identify and appraise the basic and current economic
problems of society;
5. Develop the competence to proffer solutions to economic problems
identified.
ECONOMICS JAMB SYLLABUS 2023/2024 OUTLINE
1. Economics as a science
a. Basic Concepts:
Wants, Scarcity, choice, scale of preference, opportunity
cost, Rationality, production, distribution, consumption.
bi. Economic problems of:
What, how and for whom to produce and efficiency of resource
use.
bii. Application of PPF to solution of economic problems.
2. Economic Systems
a. Types and characteristics of free enterprise, centrally
planned and mixed economies
b. Solutions to economic problems under different systems
c. Contemporary issues in economic systems (economic reforms
e.g deregulation, banking sector consolidation, cash policy reform).
3. Methods and Tools of Economic Analysis
a. Scientific Approach:
i. inductive and deductive methods
ii. positive and normative reasoning
b. Basic Tools
i. tables, charts and graphs
ii. measures of central tendency: mean, median and mode, and
their applications.
iii. measures of dispersion; variance, standard deviation,
range and their applications;
iv. merits and demerits of the tools.
4. The Theory of Demand
a. i. meaning and determinants of demand
ii. demand schedules and curves
iii. the distinction between change in quantity demanded and
change in demand.
b. Types of demand:Composite, derived, competitive and joint
demand:
c. Types, nature and determinants of elasticity and their
measurement - price, income and cross elasticity of demand:
d. Importance of elasticity of demand to consumers,
producers and government.
5. The Theory of Consumer Behaviour
a. Basic Concepts:
i. utility (cardinal, ordinal, total average and marginal
utilities)
ii. indifference curve and budget line.
b. Diminishing marginal utility and the law of demand.
c. Consumer equilibrium using the indifference curve and
marginal analyses.
d. Effects of shift in the budget line and the indifference
curve.
e. Consumer surplus and its applications.
6. The Theory of Supply
a. i. Meaning and determinants of supply
ii. Supply schedules and supply curves
iii. the distinction between change in quantity supplied and
change in supply
b. Types of Supply:
Joint/complementary,
competitive and composite
c. Elasticity of Supply:
determinants, measurements, nature and applications
7. The Theory of Price Determination
a. The concepts of market and price
b. Functions of the price system
c. i. Equilibrium price and quantity in product and factor
markets
ii. Price legislation and its effects
d. The effects of changes in supply and demand on equilibrium
price and quantity.
8. The Theory of Production
a. Meaning and types of production
b. Concepts of production and their interrelationships (TP,
AP, MP and the law of variable proportion).
c. Division of labour and specialization
d. Scale of Production: Internal and external economies of
scale and their implications.
e. Production functions and returns to scale
f. Producers’ equilibrium isoquant-isocost and marginal
analyses.
g. Factors affecting productivity.
9. Theory of Costs and Revenue
a. The concepts of cost:
Fixed, Variable, Total Average and Marginal
b. The concepts of revenue: Total, average and marginal
revenue;
c. Accountants’ and Economists’ notions of cost
d. Short-run and long-run costs
e. The marginal cost and the supply curve of firm.
10. Market Structures
a. Perfectly competitive market:
i. Assumptions and characteristics;
ii. Short-run and long-run equilibrium of a perfect
competitor;
b. Imperfect Market:
i. Pure monopoly, discriminatory monopoly and monopolistic
competition.
ii. Short-run and long-run equilibrium positions.
c. Break-even/shut-down analysis in the various markets.
11. National Income
a. The Concepts of GNP, GDP, NI, NNP
b. National Income measurements and their problems
c. Uses and limitations of national income estimates
d. The circular flow of income (two and three-sector models)
e. The concepts of consumption, investment and savings
f. The multiplier and it effects
g. Elementary theory of income determination and equilibrium
national income.
12. Money and Inflation
a. Types, characteristics and functions of money
b. Demand for money and the supply of money
c. Quantity Theory of money (Fisher equation)
d. The value of money and the price level
e. Inflation: Types, measurements, effects and control
f. Deflation: Measurements, effects and control.
13. Financial Institutions
a. Types and functions of financial institutions
(traditional, central bank, mortgage banks, merchant banks insurance companies,
building societies);
b. The role of financial institutions in economic
development;
c. Money and capital markets
d. Financial sector regulations
e. Deposit money banks and the creation of money
f. Monetary policy and its instruments
g. Challenges facing financial institutions in Nigeria.
14. Public Finance
a. Meaning and objectives
b. Fiscal policy and its instruments
c. Sources of government revenue (taxes royalties, rents,
grants and aids)
d. Principles of taxation
e. Tax incidence and its effects
f. The effects of public expenditure
g. Government budget and public debts
h. Revenue allocation and resource control in Nigeria.
15. Economic Growth and Development
a. Meaning and scope
b. Indicators of growth and development
c. Factors affecting growth and development
d. Problems of development in Nigeria
e. Development planning in Nigeria.
16. Agriculture in Nigeria
a. Types and features;
b. The role of agriculture in economic development;
c. Problems of agriculture;
d. Effects of agricultural policies and their effects;
e. Instability in agricultural incomes (causes, effects and
solutions).
17. Industry and Industrialization
a. Concepts and effects of location and localization of
industry in Nigeria;
b. Strategies and Industrialization in Nigeria;
c. Industrialization and economic development in Nigeria;
d. Funding and management of business organization;
e. Factors determining the size of firms.
18. Natural Resources and the Nigerian Economy
a. Development of major natural resources (petroleum, gold,
diamond, timber etc);
b. Contributions of the oil and the non-oil sectors to the
Nigerian economy;
c. Linkage effects;
d. Upstream/downstream of the oil sector;
e. The role of NNPC and OPEC in the oil sector;
f. Challenges facing natural resources exploitation.
19. Business Organizations
a. Private enterprises (e.g. soleproprietorship,
partnership, limited liability companies and cooperative societies)
b. Problems of private enterprises;
c. Public enterprises and their problems;
d. Funding and management of business organizations;
e. Factors determining the size of firms;
f. Privatization and Commercialization as solutions to the
problems of public enterprises.
20. Population
a. Meaning and theories;
b. Census: importance and problems.
c. Size and growth: over-population, underpopulation and
optimum population.
d. Structure and distribution;
e. Population policy and economic development.
21. International Trade
a. Meaning and basis for international trade (absolute and
comparative costs etc)
b. Balance of trade and balance of payments: problems and
corrective measures;
c. Composition and direction of Nigeria’s foreign trade;
d. Exchange rate: meaning, types and determination.
22. International Economic Organizations
Roles and relevance of international organization e.g.
ECOWAS, AU, EU, ECA, IMF, EEC, OECD, World Bank, IBRD, WTO, ADB and UNCTAD etc
to Nigeria.
23. Factors of Production and their Theories
a. Types, features and rewards;
b. Determination of wages, interest and profits;
c. Theories: marginal productivity theory of wages and
liquidity preference theory;
d. Factor mobility and efficiency;
e. Unemployment and its solutions
RECOMMENDED TEXTBOOK FOR ECONOMICS JAMB SYLLABUS.
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
Kountsoyiannis, 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.
Brownson-oton Richard (2010) What is Micro-Economics? Niky
Printing and Publishing coy.
Brownson-oton Richard (2010) What is Macro-Economics? Niky
Printing and Publishing coy.
