The NECO examinations are about to commence, and we know that every serious student is already deep into their preparation. But before you dive in further, pause for a moment and ask yourself if you studying with a clear plan, or if you are just reading. If it’s the latter, then it’s time to get your hands on the official NECO Syllabus for Economics.
The NECO Economics syllabus is a detailed guide that outlines exactly what topics will be covered in the exam. With it, you can study smartly and confidently, increasing your chances of passing the exam with flying colors.
Below, we have provided the NECO Syllabus for Economics along with a list of recommended textbooks. Make good use of these resources and set yourself on the path to success.
Examination Structure
The Economics exam consists of two papers:
Paper 1:
- This paper is made up of objective questions (multiple choice).
- It lasts for 1 hour.
- There are 50 questions in total.
- The paper carries 50 marks.
- Candidates are expected to answer all the questions.
Paper 2:
- This paper contains essay questions, including data response questions.
- It lasts for 2 hours.
- There are 8 questions in total: 2 data response questions and 6 essay-type questions.
- The paper carries 80 marks.
- Candidates must answer 4 questions: 1 question from Section A (data response) and 3 questions from Section B (essay questions).
NECO Syllabus For Economics
| No. | Topic | Subtopics / Details |
|---|---|---|
| 1 | Definition and Scope of Economics | – Concepts of scarcity and choice – Scale of preference and opportunity cost – Production possibility curve – Economic activities: production, distribution, consumption – Classification of economic activities: primary, secondary, tertiary sectors and their contributions (output/income, employment, savings, investment, foreign exchange) |
| 2 | Factors of Production | – Meaning, characteristics, and importance of land, labor, capital, and entrepreneurship |
| 3 | Types and Basic Features of Economic Systems | – Capitalism, socialism, and mixed economies – Basic features, advantages, disadvantages, and economic problems of each system – Approaches for solving economic problems in each system |
| 4 | Basic Tools of Economic Analysis | – Use of tables, graphs, and charts – Application of basic statistical measures: arithmetic mean, median, and mode |
| 5 | Demand | – Concept and law of demand – Demand schedules and curves – Reasons for exceptional demand curves – Types of demand: derived, composite, joint, competitive – Factors determining demand – Shift vs. movement along the demand curve – Elasticity of demand (price, income, cross elasticity) – Importance of elasticity to consumers, producers, government |
| 6 | Supply | – Concept and law of supply – Supply schedules and curves – Types of supply: composite, complementary, competitive – Factors determining supply |
Recommended NECO Economics Textbooks
- Cole, E. A. (2020) – Essential Economics for Senior Secondary Schools, Tonad Publishing Limited.
- Eyiyere, D.O. (1980) – Economics Made Easy, Quality Publisher Ltd.
- Fajana, F. et al (1999) – Countdown to SSCE/JME Economics, Evans.
- Falodun, A., B. et al (1997) – Modern Microeconomics, Macmillan.
- Udu, E. and Agu, G.A. (2005) – New System Economics: A Senior Secondary Course, Africana FIRST Publisher.
- Lipsey, R.G. (1997) – An Introduction to Positive Economics, Oxford University Press.
- Black, J. (1997) – Oxford Dictionary of Economics, Oxford University Press.
- Aderinto, A.A et al (1996) – Economics: Exam Focus, University Press Plc.
Candidates are encouraged to take their time and focus on studying according to the content of the NECO Economics syllabus. This will help you cover all the important topics that could appear in the exam. Also, be sure to get the recommended textbooks and past questions, as using these together will make sure you have covered all bases and are fully prepared.
If you have any questions while studying, don’t hesitate to ask in the comments below. You can also share this post with other candidates who are preparing, so everyone can benefit.
We have the syllabi for all NECO subjects available, so be sure to visit our page to find exactly what you need. Study smart, stay focused, and you will be on your way to success!
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