We are happy to announce to you that the 2023 official Joint Admission and Matriculation Board (JAMB) syllabus for Economics is available for those of you who need it.
This syllabus is recommended for any candidate wishing to sit for the economics examination which is organized by the Unified Tertiary Matriculation Examination(UTME).
This syllabus is available for free download. You can decide to read the syllabus here or get it downloaded directly in a PDF format to your computer.
The economic JAMB syllabus consists of 22 topics and different subtopics that each student needs to study before they can be confident to pass the JAMB examination
Below are the Economic syllabus and its subtopics.
Make sure you go through the sub-topics carefully because those are the area where JAMB is going to set their question.
1. Economics as a science
A. You need to know the basic economic concepts of want, need, scarcity, choice of scale of preference, opportunity cost, production, and distribution.
B. State the problems of what, how, and for whom to produce and the efficiency of resources in the economic and application of PPF
2. Economic system
A. Solution to economic problems under different systems.
B. Types and characteristics of free enterprise.
C. Contemporary issues in the economic system e.g banking sector and deregulation, etc.
3. The theory of demand
You need to know:
A. The meaning of demand.
B. Types of demands.
C. Types, nature, and determinants of elasticity and their measurement.
D. Important elasticity demand to consumers.
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4. The theory of supply.
A. Meaning of supply and determinants of supply.
B. Types of supply.
C. Elasticity of supply.
5. Method and tools for economic analysis.
A. Basics tools e.g tables and graphs.
B. Measure of central tendency.
C. Measure of dispersion of variance standard deviation.
D. Merit and demerit of the tools.
6. The theory of consumer behavior.
A. Diminishing marginal utility and the law of demand.
B. Basic concepts.
C. Consumer equilibrium.
D. Consumer surplus and its application.
7. The theory of production.
A. Meaning and types of production.
B. Concepts of production.
C. Division of labor.
D. Scale of production.
E. Equilibrium.
F. Factors affecting productivity.
8. The theory of costs and revenue.
A. The concept of revenue.
B. Accountants and economists' notion of cost.
C. Short-run and long-run costs.
D. The marginal cost.
9. National income.
A. Elementary theory of national income and equilibrium of national income.
B. The concept of GNP, GDP, and NNP.
C. The multiplier and its effects.
D. The concept of consumption, investment, and saving.
Money
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Money and Inflation.
A. Types of money and characteristics.
B. Demand for money and supply.
C. Quantity theory of money.
D. Inflation and deflation.
11. Market structure
A. Perfectly competitive market.
B. Imperfect market.
C. Break-even analysis in various markets.
12. Financial Institution.
A. Type and function of financial institutions.
B. Role of the financial section.
C. Monetary policy and instruments.
13. Population.
A. Meaning and theories.
B. Census.
C. Structure and distribution.
D. Population policy.
14. International economic organization.
Related and recommended topics
15. Agriculture In Nigeria.
A. Types and future.
B. The role of agriculture in economic development.
C. Policy and effects.
16. Industrial and industrialization.
A. Concepts and effects of and localization of industries in Nigeria.
B. Strategies and industrialization in Nigeria.
C. Industrialization and economic development in Nigeria.
D. Funding and management of the business organization.
E. Factors determining the size of firms.
17. Natural Resources and Nigeria's economy.
A. Development of natural resources.
B. Contribution of the oil and non-oil sectors to Nigeria's economy.
C. The role of the NNP and OPEC in the oil sector.
D. Challenges facing natural resources exploitation.
18. International trade.
A. Meaning and basics for international trade.
B. Balance of trade and balance of payment.
C. Composition and the direction of Nigeria's foreign trade.
D. Exchange rate.
19. Factors of production and theories.
A. Types, features, and rewards.
B. Determination of wages, interest, and profits.
C. Factors, mobilization, and efficiencies.
D. Unemployment and solution.
E. Business organization.
20. Public finance.
A. Meaning and objectives.
B. Principle of texture.
C. Fiscal and instrument.
D. Revenue allocation and resource control in Nigeria.
E. Government budget and policy.
21. Business organization
22. Economic growth and development.
A. The theory of price determination.
B. The concepts of the market price.
C. The equilibrium price in products and factor market.
D. Function of the price system.
E. The effect of changes in supply and demand on equilibrium price and quantity.
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