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JAMB Syllabus for Economics | 2020 Official Version

JAMB Syllabus for Economics: See the JAMB Syllabus for Economics for the 2020 Unified Tertiary Matriculation Examination (UTME).

jamb syllabus for economics

AllSchool is pleased to present the 2020 Joint Admission and Matriculation Board (JAMB) Economics Syllabus for UTME candidates. This JAMB syllabus for Economics will assist concerned candidates prepare adequately for the upcoming examination.

JAMB Syllabus is a place where JAMB lists out all the topics, sub-topics and textbooks candidates needs for the preparation of a particular subject. In this page, we will sharing with you the Economics Syllabus. We will also share with you the recommended prose, poets, drama and anthologies.

We can assure that if you are able to read, understand and digest the topics below, then you will score at least 90/100 in Economics. This is achievable but you must prepare. Not just read anything, read the topics that matters. Preparing with the the adequate materials/books. Yes prepare with the JAMB syllabus for Economics. 

Aside scoring above 90/100 in JAMB when you prepare with the JAMB syllabus, most universities, polytechnics and College of Education uses this syllabus in setting their post utme questions. This implies that since you will score above 90 in JAMB, then you will definitely score above 90% in your post utme, hence, you will get admission.

PLEASE NOTE: After listing out recommended text-books below, you will see an option to view syllabus for other subjects.

Recommended Links:

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You can CLICK HERE to download the JAMB Syllabus for Economics 2020 PDF or continue reading it on this website below.

Topics in Economics to read in Preparation for UTME

UTME candidates preparing to write Economics in the forthcoming UTME should note that they should read only the 23 topics listed below. The topics are;

1. NATURAL RESOURCES AND THE NIGERIAN ECONOMY

This is the first topic in the JAMB syllabus. After reading the topic make sure you

  1. trace the development of the major natural resources in Nigeria.
  2. assess the contribution of the oil and the non-oil sectors to the Nigerian economy.
  3. establish the linkages between the natural resources and other sectors.
  4. analyse the environmental effects of exploitation activities in Nigeria.
  5. distinguish between the upstream and downstream activities in the oil sector.
  6. examine the roles of NNPC and OPEC in the oil sector.
  7. suggest ways of controlling the effects of natural resources exploitation.

2. THE THEORY OF CONSUMER BEHAVIOUR

After reading the second topic, candidates are expected to;

  1. appraise the various utility concepts.
  2. apply the law of demand using the marginal utility analysis.
  3. use indifference curve and marginal analyses to determine consumer equilibrium.
  4. associate the income and substitution effects.
  5. apply consumer surplus to real life situations.

3. THE THEORY OF PRICE DETERMINATION

After reading the third topic, candidates are expected to;

  1. explain the concepts of market and price.
  2. examine the functions of the price system.
  3. evaluate the effects of government interference with the price system.
  4. differentiate between minimum and maximum price legislation.
  5. interpret the effects of changes in supply and demand on equilibrium price and quantity.

4. AGRICULTURE IN NIGERIA

After reading the fourth topic, candidates are expected to;

  1. identify the types and features of agriculture.
  2. examine the characteristics and problems of agriculture.
  3. assess the role of agriculture in economic development.
  4. appraise agricultural policies in Nigeria.
  5. evaluate the causes and effects of instability in agricultural incomes.

5. BUSINESS ORGANIZATIONS

After reading the fifth topic, you should be able to;

  1. compare the types and basic features of private business organization.
  2. assess the financing and management problems of business organizations.
  3. identify the features of public enterprises.
  4. identify the factors determining the size of firms.
  5. differentiate between privatization and commercialization.
  6. compare the advantages and disadvantages of privatization and commercialization.

6. ECONOMIC GROWTH AND DEVELOPMENT

After reading the sixth topic, you should be able to;

  1. distinguish between economic growth and development.
  2. highlight the indicators of growth and development.
  3. identify the factors affecting growth and development.
  4. assess the problems of development in Nigeria.
  5. examine the role of planning in development.

7. ECONOMIC SYSTEMS

After reading the above topic, you should be able to;

  1. compare the various economic systems.
  2. apply the knowledge of economic systems to contemporary issues in Nigeria.
  3. proffer solutions to economic problems in different economic systems.

8. ECONOMICS AS A SCIENCE

The content in this topic includes;

  1. Basic Concepts: Wants, Scarcity, choice, scale of preference, opportunity cost, Rationality, production, distribution, consumption. 
  2. i. Economic problems of: What, how and for whom to produce and efficiency of resource use.
    ii. Application of PPF to solution of economic problems.

After reading the above topic, you should be able to;

  1. compare various concepts in economics and their applications.
  2. interpret graphs/schedules in relation to the concepts.
  3. identify economic problems.
  4. proffer solutions to economic problems.

9. FACTORS OF PRODUCTION AND THEIR THEORIES

The content in the topic above includes;

  1. Types, features and rewards.
  2. Determination of wages, interest and profits.
  3. Theories: marginal productivity theory of wages and liquidity preference theory.
  4. Factor mobility and efficiency.
  5. Unemployment and its solution

After reading the topic, you should be able to;

  1. identify the types; features and rewards of factors.
  2. analyse the determination of wages, interest and profits.
  3. interpret the marginal productivity of liquidity preference theories.
  4. examine factors mobility and efficiency.
  5. examine the types and causes of unemployment in Nigeria.
  6. suggest solutions to unemployment in Nigeria.

10. FINANCIAL INSTITUTIONS

After reading the topic, you should be able to;

  1. Identify the types and functions of financial institutions.
  2. Explain the roles of financial institutions in economic development.
  3. Distinguish between the money and capital markets.
  4. Identify the various financial sector regulators and their functions.
  5. Explain the money creation process and its challenges.
  6. Examine the various monetary policy instruments and their effects.
  7. Appraise the challenges facing the financial institutions in Nigeria.

11. INDUSTRY AND INDUSTRIALIZATION

After reading the topic, you should be able to;

  1. differentiate between location and localization of indury.
  2. identify the factors influencing the location and localization of indusy.
  3. examine the problems of industrialization.
  4. appraise some industrialization strategies.
  5. examine the role of industry in economic development.

12. INTERNATIONAL ECONOMIC ORGANIZATIONS

After reading the topic, you should be able to;

  1. identify the various economic organizations and their functions.
  2. evaluate their relevance to the Nigerian economy.

13. INTERNATIONAL TRADE

After reading the topic, you should be able to;

  1. examine the basis for international trade.
  2. differentiate between absolute and comparative advantages.
  3. distinguish between balance of trade and balance of payments and their corrective measures.
  4. highlight the problems of balance of payments and their corrective measures.
  5. examine the composition and direction of Nigeria’s foreign trade.
  6. identify the types of exchange rates.
  7. examine how exchange rates are determined.

14. MARKET STRUCTURES

After reading the topic, you should be able to;

  1. analyse the assumptions and characteristics of a perfectly competiti market.
  2. differentiate between short-run and long-run equilibrium of a perfectly competitive firm.
  3. analyse the assumptions and characteristics of imperfect markets.
  4. differentiate between the short-run and long-run equilibria of imperfectly competitive firms.
  5. establish the conditions for the break- even/shut down of firms.

15. METHODS AND TOOLS OF ECONOMIC ANALYSIS

The content in this topic includes;

  1. Scientific Approach:
    1. inductive and deductive methods.
    2. positive and normative reasoning.
  2. Basic Tools:
    1. tables, charts and graphs.
    2. measures of central tendency: mean, median and mode, and their applications.
    3. measures of dispersion; variance, standard deviation, range and their applications.
    4. merits and demerits of the tools.

16. MONEY AND INFLATION

After reading the topic, make sure you are able to;

  1. explain between the types, characteristics and functions of money.
  2. identify the factors affecting the demand for and the supply of money.
  3. examine the relationship between the value of money and the price level.
  4. identify the components in the quantity theory of money.
  5. examine the causes and effects of inflation.
  6. calculate the consumer price index.
  7. interpret the consumer price index.
  8. examine ways of controlling inflation.
  9. examine the causes, measurement, effects and control of deflation.

17. NATIONAL INCOME

After reading the topic, make sure you are able to;

  1. identify the major concepts in national income.
  2. compare the different ways of measuring national income.
  3. examine their problems.
  4. assess the uses and limitations of national income estimates.
  5. interpret the circular flow of income using the three-sector model.
  6. calculate the multipliers.
  7. evaluate their effects on equilibrium national income.
  8. explain the concepts of consumption, investment and savings.

18. POPULATION

After reading the topic, make sure you are able to;

  1. analyse the features of some population theories.
  2. examine the relevance of the theories to Nigeria.
  3. examine the uses and limitations of census data.
  4. identify determinants of the size, composition and growth of population.
  5. analyse the structure and distribution of population.
  6. appraise government population policy in Nigeria.

19. PUBLIC FINANCE

The content of topic includes;

  1. Meaning and objectives.
  2. Fiscal policy and its instruments.
  3. Sources of government revenue (taxes royalties, rents, grants and aids).
  4. Principles of taxation.
  5. Tax incidence and its effects.
  6. The effects of public expenditure.
  7. Government budget and public debts.
  8. Revenue allocation and resource control in Nigeria.

After reading the topic, make sure you are able to;

  1. identify the objectives of public finance.
  2. explain fiscal policy and its instruments.
  3. compare the various sources of government revenue.
  4. analyse the principles of taxation.
  5. analyse the incidence of taxation and its effects.
  6. examine the effects of public expenditure on the economy.
  7. examine the types and effects of budgets.
  8. highlight the criteria for revenue allocation in Nigeria and their impact.

20. THE THEORY OF DEMAND

After reading the topic, make sure you are able to;

  1. identify the factors determining demand.
  2. interpret demand curves from demand schedules.
  3. differentiate between change in quantity demanded and in demand.
  4. compare the various types of demand and their interrelationships.
  5. relate the determinants to the nature of elasticity.
  6. compute elasticities.
  7. interpret elasticity coefficients in relation to real life situations.

21. THE THEORY OF PRODUCTION

After reading the topic, make sure you are able to;

  1. relate TP, AP and MP with the law of variable proportion.
  2. compare internal and external economies of scale in production and their effects.
  3. identify the types of production functions.
  4. compare the different types of returns to the scale and their implications.
  5. determine the firm’s equilibrium position using the isoquant-isocost and marginal analyses.
  6. identify the factors affecting productivity.

22. THE THEORY OF SUPPLY

After reading the topic, make sure you are able to;

  1. identify the factors determining supply.
  2. interpret supply curves from supply schedules.
  3. differentiate between change in quantity supplied and change in supply.
  4. compare the various types of supply and their interrelationships.
  5. relate the determinants to the nature of elasticity.
  6. compute elasticity coefficients.
  7. interpret the coefficients in relation to real live situations.

23. THEORY OF COSTS AND REVENUE

After reading the topic, make sure you are able to;

  1. explain the various cost concepts.
  2. differentiate between accountants’ and economists’ notions of costs.
  3. interpret the short-run and long-run costs curves.
  4. establish the relationship between marginal cost and supply curve.
  5. explain the various revenue concepts.

That’s all! The twenty-three (23) topics above are all you need to read in preparation for the UTME. We will also show you the JAMB recommended textbooks for Economics.

JAMB Approved Text Books for Economics

  1.  Economics: Exam Focus, by Aderinto, A.A et al.
  2. Oxford Dictionary of Economics, by Black, J.
  3. Economics Made Easy, by Eyiyere, D.O.
  4. Countdown to SSCE/JME Economics, by Fajana, F et al.
  5.   Round-up Economics, by Falodun, A.B. et al.
  6. .Modern MicroEconomics, by Kountsoyiannis, A.
  7. .Success in Economics, by Lawal, O.A.
  8. An Introduction to Positive Economics, by Lipsey, R.G.
  9. Economics, by Samuelson, P and Nordhaus, W..
  10. New System Economics: a Senior Secondary Course by Udu E and Agu G.A.
  11. Economics, by Wannacott and Wannacott.
  12. What is Micro-Economics? by Brownson-oton Richard
  13.  What is Macro-Economics? by Brownson-oton Richard

You read this Economics JAMB syllabus on your favourite educational website: www.allschool.com.ng. AllSchool wishes you the very best of luck and prays you get admission this year…Amen!


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Allschool wishes you best of luck.

Source: JAMB IBASS.

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