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Economics — JAMB Syllabus
Below are the topics and areas you are expected to study for Economics in the UTME examination. Questions will be drawn from these topics.
1
Basic Economic Concepts
Topics / Contents
- Scarcity, choice and opportunity cost
- Economic systems (capitalism, socialism, mixed economy)
- Factors of production
- Division of labour and specialization
2
Demand and Supply
Topics / Contents
- Law of demand and supply
- Elasticity of demand and supply
- Market equilibrium
- Price controls and their effects
3
Theory of Production
Topics / Contents
- Production function
- Law of diminishing returns
- Costs and revenue
- Economies and diseconomies of scale
4
Market Structures
Topics / Contents
- Perfect competition
- Monopoly and monopolistic competition
- Oligopoly
- Price discrimination
5
National Income
Topics / Contents
- Measurement of national income (GDP, GNP, NNP)
- Methods of computing national income
- Uses and limitations of national income data
6
Money and Banking
Topics / Contents
- Functions of money
- Types of money
- Commercial and central banking
- Monetary policy
7
International Trade
Topics / Contents
- Balance of trade and balance of payments
- Terms of trade
- Trade restrictions (tariffs, quotas)
- Economic integration (ECOWAS, AU)
8
Public Finance
Topics / Contents
- Government revenue and expenditure
- Taxation (types and principles)
- National budget
- National debt