JAMB Economics Syllabus

1. Introduction to Economics

• Meaning of economics

• Basic economic problems

• Economic systems

• Scarcity, choice and opportunity cost

2. Demand and Supply

• Law of demand

• Law of supply

• Market equilibrium

• Elasticity of demand and supply

3. Production

• Factors of production

• Division of labour

• Scale of production

• Efficiency and productivity

4. Market Structures

• Perfect competition

• Monopoly

• Oligopoly

• Monopolistic competition

5. National Income

• GDP and GNP

• Methods of measuring national income

• Problems in measurement

• Per capita income

6. Money and Banking

• Functions of money

• Financial institutions

• Central bank and commercial banks

• Inflation and deflation

7. Public Finance

• Government revenue

• Taxation

• Public expenditure

• Budgeting

8. Economic Development

• Meaning of development

• Developing vs developed economies

• Problems of development

• Solutions

9. International Trade

• Import and export

• Balance of trade

• Balance of payments

• Exchange rates

10. Population Economics

• Population growth

• Population structure

• Migration

• Overpopulation and underpopulation

11. Agriculture in Economics

• Types of farming

• Agricultural systems

• Contribution to economy

• Problems of agriculture

12. Labour Market

• Demand and supply of labour

• Wage determination

• Trade unions

• Employment and unemployment

13. Economic History of Nigeria

• Colonial economy

• Post-independence economy

• Economic reforms

• Structural changes