JAMB Syllabus for Economics 2025

JAMB has released the syllabus for all subjects, including Economics. The JAMB Syllabus for Economics is here to guide you so you don’t waste time reading what won’t show up in the exam. The purpose of the syllabus is simple: to give you a clear direction on what topics to read and what areas to focus on. JAMB wants you to succeed, and this is one of the tools to help you get there.

All candidates are strongly advised to make use of this syllabus while studying. It will help you cover the most important topics and save you from unnecessary stress. Below, we’ve provided the full JAMB Syllabus for Economics in a clear and organized format. You’ll also find a list of recommended textbooks that JAMB suggests you read to boost your understanding.

JAMB Syllabus For Economics

S/NTopicSubtopics
1Economics as a Sciencea. Wants, Scarcity, Choice, Scale of Preference, Opportunity Cost, Rationality, Production, Distribution, Consumption
b(i). Economic Problems: What, How, For Whom to Produce, Resource Efficiency
b(ii). Application of PPF to Economic Problems
2Economic Systemsa. Free Enterprise, Centrally Planned, Mixed Economies
b. Solutions to Economic Problems under Different Systems
c. Contemporary Issues: Deregulation, Banking Consolidation, Cash Policy Reform
3Methods and Tools of Economic Analysisa(). Inductive and Deductive Methods
(ii). Positive and Normative Reasoning
b(i). Tables, Charts, Graphs
b(ii). Mean, Median, Mode
b(iii). Variance, Standard Deviation, Range
b(iv). Merits and Demerits of Tools
4The Theory of Demanda(i). Meaning, Determinants
a(ii). Demand Schedules and Curves
a(iii). Change in Quantity Demanded vs. Change in Demand
b. Composite, Derived, Competitive, Joint Demand
c. Elasticity: Types, Determinants, Measurement
d. Importance of Elasticity
5The Theory of Consumer Behavioura) Utility: Cardinal, Ordinal, Total, Average, Marginal
a(ii). Indifference Curve and Budget Line
b. Diminishing Marginal Utility
c. Consumer Equilibrium
d. Effects of Budget and Indifference Shifts
e. Consumer Surplus
6The Theory of Supplya(i). Meaning, Determinants
a(ii). Supply Schedules and Curves
a(iii). Change in Quantity Supplied vs. Change in Supply
b. Joint, Competitive, Composite Supply
c. Elasticity of Supply: Determinants, Measurement, Application
7The Theory of Price Determinationa. Market and Price Concepts
b. Functions of Price System
c(i). Equilibrium in Product and Factor Markets
c(ii). Price Legislation Effects
d. Effects of Demand and Supply Changes
8The Theory of Productiona. Meaning, Types
b. TP, AP, MP, Law of Variable Proportion
c. Division of Labour, Specialization
d. Internal and External Economies of Scale
e. Production Functions, Returns to Scale
f. Producers’ Equilibrium
g. Productivity Factors
9Theory of Costs and Revenuea. Fixed, Variable, Total, Average, Marginal Costs
b. Total, Average, Marginal Revenue
c. Accounting vs. Economic Costs
d. Short-run and Long-run Costs
e. MC and the Firm’s Supply Curve
10Market Structuresa(i). Perfect Market Assumptions
a(ii). Short/Long-run Equilibrium
b(i). Monopoly and Monopolistic Competition
b(ii). Short/Long-run Equilibrium
c. Break-even/Shut-down Analysis
11National Incomea. GNP, GDP, NI, NNP
b. Measurement and Problems
c. Uses and Limitations
d. Circular Flow (2- & 3-sector Models)
e. Consumption, Investment, Savings
f. Multiplier
g. Income Determination
12Money and Inflationa. Types, Characteristics, Functions of Money
b. Demand and Supply of Money
c. Quantity Theory (Fisher)
d. Value of Money and Price Level
e. Inflation: Types, Measurement, Control
f. Deflation: Measurement, Control
13Financial Institutionsa. Types and Functions
b. Role in Development
c. Money and Capital Markets
d. Sector Regulations
e. Deposit Money Banks and Money Creation
f. Monetary Policy
g. Challenges in Nigeria
14Public Financea. Meaning and Objectives
b. Fiscal Policy Instruments
c. Revenue Sources
d. Tax Principles
e. Tax Incidence and Effects
f. Public Expenditure Effects
g. Budget and Public Debt
h. Revenue Allocation in Nigeria
15Economic Growth and Developmenta. Meaning and Scope
b. Growth and Development Indicators
c. Growth Factors
d. Nigeria’s Development Problems
e. Development Planning
16Agriculture in Nigeriaa. Types and Features
b. Role in Development
c. Agricultural Problems
d. Policies and Effects
e. Income Instability: Causes, Effects, Solutions
17Industry and Industrializationa. Location and Localization Concepts
b. Industrial Strategies
c. Role in Development
d. Business Funding and Management
e. Firm Size Determinants
18Natural Resources and Nigerian Economya. Resource Development
b. Oil and Non-oil Contributions
c. Linkage Effects
d. Oil Sector Structure
e. NNPC and OPEC Roles
f. Resource Exploitation Challenges
19Business Organizationsa. Sole Proprietorship, Partnership, Companies, Co-ops
b. Private Sector Problems
c. Public Enterprises and Issues
d. Funding and Management
e. Firm Size Factors
f. Privatization and Commercialization
20Populationa. Meaning, Theories
b. Census: Importance, Problems
c. Population Size and Growth
d. Structure and Distribution
e. Policy and Development
21International Tradea. Meaning, Basis (Absolute, Comparative Cost)
b. BOT and BOP: Problems, Solutions
c. Nigeria’s Trade Composition
d. Exchange Rate: Types and Determination
22International Economic OrganizationsRoles and Relevance of ECOWAS, AU, EU, ECA, IMF, EEC, OECD, World Bank, IBRD, WTO, ADB, UNCTAD
23Factors of Production and Their Theoriesa. Types, Features, Rewards
b. Wage, Interest, Profit Determination
c. Marginal Productivity, Liquidity Preference Theories
d. Mobility and Efficiency
e. Unemployment and Solutions
f. Solutions to Unemployment in Nigeria
  1. Aderinto, A. A., et al. (1996). Economics: Exam focus. University Press PLC.
  2. Black, J. (1997). Oxford dictionary of economics. Oxford University Press.
  3. Eyiyere, D. O. (1980). Economics made easy. Quality Publishers Ltd.
  4. Fajana, F., et al. (1999). Countdown to SSCE/JME economics. Evans.
  5. Falodun, A. B., et al. (1997). Round-up economics. Longman.
  6. Koutsoyiannis, A. (1979). Modern microeconomics. Macmillan.
  7. Lipsey, R. G. (1997). An introduction to positive economics. Oxford University Press.
  8. Samuelson, P., & Nordhaus, W. (1989). Economics. McGraw-Hill.
  9. Udu, E., & Agu, G. A. (2005). New system economics: A senior secondary course. Africana FIRST Publishers Ltd.
  10. Wonnacott, P., & Wonnacott, R. (1979). Economics. McGraw-Hill.
  11. Brownson-Oton, R. (2010). What is microeconomics? Niky Printing and Publishing Co.

Make sure to follow this Economics syllabus carefully and study with the recommended textbooks along with past JAMB questions. This is one of the best ways to prepare smart and boost your chances of scoring high in the exam.

If you have any questions about the syllabus or need help with any topic, feel free to ask in the comments. Don’t forget to share this post with your friends who are also getting ready for JAMB. You can also visit our page to find the syllabi for other JAMB subjects.

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