JAMB Economics Syllabus 2019/2020 And Hot Topics You Should Read For JAMB Economics UTME Test

You will agree with me that for you to pass JAMB Economics very well in JAMB 2019, You need the JAMB Economics syllabus 2019 to get yourself well prepared.

JAMB economics syllabus

Well, in this article, we will provide you with the JAMB Economics Syllabus for 2019 UTME Examination.

If you have been searching the internet for the 2019 JAMB syllabus for Economics, JAMB Economics Syllabus 2019, JAMB Syllabus for Economics 2019, JAMB Economics Syllabus, JAMB economics syllabus.pdf, then you’re on the right page.

Many candidates who want to write Economics in JAMB 2019 frequently ask questions like;

1. How can I make proper use of JAMB Economics Syllabus?

2. What is the aim of JAMB syllabus for Economics?

3. What are The Recommended Textbooks For Economics in JAMB?

4. Can I pass Economics in JAMB 2019 without using the JAMB Economics Syllabus to Prepare? I don’t think it will be very easy.

How can I make proper use of JAMB Economics Syllabus

To make the most use of the JAMB syllabus for Economics follow the guide below

  1. The JAMB Economics Syllabus comes with an aim, after which is the topics/contents/notes and the Objective
  2. Look at the topics/contents/notes and also check the objectives.
  3. There’s also recommended textbooks for it – Check the recommended textbooks and Look for one, then open to any topic you which to learn and study it by following the objectives.

What is the Aim Of JAMB Economics Syllabus

The aim of the Unified Tertiary Matriculation Examination (UTME) syllabus in Economics is to prepare the candidates for the Board’s examination. It is designed to test their achievement of the course objectives, which are to:

  1. demonstrate sufficient knowledge and understanding of the basic concepts, tolls and their general applications to economic analysis;
  2. identify and explain the basic structure, operations and roles of the various economics units and institutions (national and international)
  3. describe major economic activities production, distribution and consumption;
  4.  identify and appraise the basic economic problems of society
  5. develop the competence to proffer solutions to economic problems.

Recommended Textbooks For JAMB Economics 2019/2020

Below are the recommended textbooks you must read for JAMB 2019 Economics test;

  • Aderinto, A.A names(s)? (1996). Economics: Exam Focus, Ibadan: University Press Plc.
  • Black, J. (1997). Oxford Dictionary of Economics. Oxford: Oxford University Press
  • Eyiyere, D.O. (1980). Economics Made Easy, Benin City, Quality Publishers Ltd.
  • Fajana, F et al (1999). Countdown to SSCE/JME Economics Ibadan: Evans Falodun, A.B. et al (1997). Round-up Economics, Lagos: Longman
  • Kountsoyiannis, A. (1979). Modern Microeconomics, London: Macmillan
  • Lawal, O.A. (1985). Success in Economics, London: John Muray.
  • Lipsey, R.G. (1997). An Introduction to Positive Economics, Oxford: Oxford University Press.
  • Samuelson, P and Nordhaus, W. (1989). Economics, Singapore: McGraw-Hill
  • Udu E and Agu G.A. (2005). New System Economics: a Senior Secondary Course, Ibadan: Africana FIRST Publishers Ltd.
  • Wannacott and Wannacott (1979). Economics, New York: McGraw-Hill.
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JAMB SYLLABUS FOR ECONOMICS FULL DETAILS 2019

1. Economics as a Science

a. Basic Concepts: Wants, Scarcity, choice, opportunity cost, Rationality, production, distribution, consumption etc
b. Economic problems of: what, how and for whom to produce

2. Economic Systems | JAMB Economics Syllabus 2019

a. Types: free enterprise, centrally planned and mixed economies
b. Solutions to economic problems under different systems
c. Contemporary issues in economic systems (e.g. economic reforms, deregulation etc).

3. Methods of Economic Analysis | JAMB Syllabus For Economics

a. Scientific Approach:

i. inductive and deductive methods
ii. positive and normative reasoning

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b. Basic Tools

i. tables, charts and graphs
ii. measures of central tendency: mean, median and mode, and their applications.
iii. measures of dispersion; variance, standard deviation, range and their applications;
iv. merits and demerits of the tools.

4. The Theory of Demand | JAMB Economics Syllabus 2019

a. i. meaning and determinants of demand
ii. demand schedules and curves
iii. the distinction between change in quantity demanded and change in demand.

b. Types of demand: Composite, derived, competitive etc
c. Elasticity of demand: determinants, measurements, nature and applications (e.g. revenue).
d. Effects of changes in the determinants (price, income and cross elasticities).

5. The Theory of Consumer Behaviour | JAMB Syllabus For Economics

a. Basic Concepts:

i. utility (cardinal, ordinal and marginal utilities)
ii. value in use and value in exchange
iii. indifference curve and budget line.

b. Diminishing marginal utility and the law of demand.
c. Consumer equilibrium using the indifference curve and marginal analyses.
d. Effects of shift in the budget line and the indifference curve.
e. Consumer surplus and its applications.

6. The Theory of Supply | JAMB Economics Syllabus 2019

a.

i. Meaning and determinants of supply
ii. Supply schedules and supply curves
iii. the distinction between change in quantity supplied and change in supply

b. Types of Supply: Joint/complementary, competitive and composite
c. Elasticity of Supply: determinants, measurements, nature and applications

7. The Theory of Price Determination | JAMB Syllabus For Economics

a. The concepts of market and price
b. Functions of the price system
c.

i. Price determination under a free market
ii. Price legislation and its effects

d. The effects of changes in supply and demand on equilibrium price and quantity.

8. The Theory of Production | JAMB Economics Syllabus

a. Concepts of production and their interrelationships (TP, AP, MP and the law of variable proportion).
b. Scale of Production: Internal and external economies of scale and their implications.
c. Production functions and returns to scale
d. Producers’ equilibrium isoquant-isocost and marginal analyses.

9. Theory of Costs | JAMB Syllabus For Economics 2019

a. The concepts of cost: Fixed, Variable Average and Marginal
b. Accountants’ and Economists’ notions of cost
c. Short-run and long-run costs
d. The marginal cost and the supply curve of firm.

10. Market Structure | JAMB Syllabus For Economics 2019

a. Perfectly competitive market:

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i. Assumptions and characteristics;
ii. Short-run and long-run equilibrium of a perfect competitor;

b. Imperfect Market:

i. Pure monopoly, discriminatory monopoly and monopolistic competition.
ii. Short-run and long-run equilibrium positions.

c. Break-even/shut-down analysis in the various markets.

11. National Income | JAMB Economics Syllabus

a. Concepts: GNP, GDP, NI etc
b. National Income measurements and their problems
c. Uses of national incomes estimates
d. The circular flow of income (three sector model)
e. The multiplier concept.
f. Elementary theory of income determination and equilibrium national income.

12. Money and Inflation | JAMB Economics Syllabus

a. Types and functions of money
b. Demand for money and the supply of money
c. Quantity Theory of money (Fisher equation)
d. Inflation: Types, measurements, effects and control

13. Banking | JAMB Economics Syllabus

a. Types and functions of banks
b. The creation of money
c. Challenges facing the banking industry in Nigeria (reforms, consolidation)
d. The role of banks in economic development
e. Monetary policy and its instruments.

14. Public Finance | JAMB Economics Syllabus

a. Meaning and objectives
b. Sources of government revenue (taxes royalties, etc)
c. Principles of taxation
d. The effects of public expenditure
e. Government budget and public debts
f. Revenue allocation and resource control in Nigeria

15. Economic Growth and Development

a. Meaning and scope
b. Indicators of growth and development
c. Factors affecting growth and development
d. Problems of development in Nigeria
e. Developing planning in Nigeria.

16. Agriculture in Nigeria | JAMB Economics Syllabus

a. The role of agriculture in economic development;
b. Characteristics and problems;
c. Effects of agricultural policies;
d. Instability in agricultural income (causes, effects and solutions)

17. Industry and Industrialization | JAMB Syllabus For Economics 2019

a. Concepts and effects of location and localization of industry in Nigeria;
b. Problems of Industrialization strategies (e.g. export promotion, import
substitution etc)
c. SMEs and economic development in Nigeria

18. Petroleum and the Nigerian Economy

a. Development of the petroleum industry in Nigeria;
b. Contributions of petroleum to the Nigerian economy;
c. Linkage effects;
d. Upstream/downstream activities.

19. Business Organizations | JAMB Economics Syllabus

a. Private enterprises (e.g. sole proprietorship, partnership, limited liability companies
and cooperative societies)
b. Problems of private enterprises;
c. Public enterprises;
d. Privatization and Commercialization as solutions to the problems of public enterprises.

20. Population | JAMB Syllabus For Economics

a. Meaning and theories;
b. Census: importance and problems.
c. Size and growth: over-population, underpopulation and optimum population.
d. Structure and distribution;
e. Population policy and economic development.

21. International Trade

a. Meaning and basis for international trade (absolute and comparative costs etc)
b. Balance of trade and balance of payments: problems and corrective measures;
c. Composition and direction of Nigeria’s foreign trade;
d. Exchange rate: meaning, types and determination.

22. International Economic Organizations

Roles and relevance of international organization e.g. ECOWAS, AU, EU, OPEC, ECA, IMF, EEC, OECD, World Bank, IBRD, WTO, ADB and UNCTAD etc to Nigeria.

23. Factors of Production and their Theories

a. Types, features and rewards;
b. Determination of wages, interest and profits;
c. Theories: marginal productivity theory of wages and liquidity preference theory;
d. Factor mobility and efficiency;
e. Unemployment

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