The Joint Admissions and Matriculation Board (JAMB) is a Nigerian entrance examination board for tertiary-level institutions. JAMB is responsible for conducting Unified Tertiary Matriculation Examination (UTME) for prospective undergraduates seeking admission into Nigerian universities, polytechnics, and colleges of education. As part of the admission process, JAMB has created a syllabus for each subject, including Economics.
The JAMB Syllabus for Economics 2023/2024 provides a detailed outline of the topics that will be covered in the UTME examination for Economics. The syllabus is aimed at providing candidates with the knowledge and understanding of basic economic concepts and principles, as well as the ability to apply these concepts and principles to real-world situations.
The syllabus is divided into three broad sections: Microeconomics, Macroeconomics, and Development Economics. Each section covers specific topics, such as the theory of demand and supply, market structure, economic growth, and international trade.
The aim of the JAMB Syllabus for Economics 2023/2024 is to equip candidates with a solid foundation in economics and develop their analytical and critical thinking skills. Candidates are expected to understand economic concepts, interpret economic data, and apply economic principles to real-world problems.
It is important for candidates to study the recommended textbooks and practice past questions to prepare adequately for the UTME examination in Economics. By studying the JAMB Syllabus for Economics 2023/2024, candidates will have a clear understanding of what to expect in the examination and how to approach the questions.
- Provide candidates with a foundation in the basic concepts and principles of economics.
- Enable candidates to apply economic concepts and principles to analyze economic issues and problems.
- Develop candidates’ ability to make sound economic decisions based on economic analysis.
- Provide candidates with an understanding of the role of economics in society and the global economy.
- Develop candidates’ awareness of current economic issues and trends.
- Prepare candidates for further studies in economics or related fields.
Jamb Syllabus for Economics 2023/2024
|1. Economics as a Science||a. Basic Concepts: Wants, Scarcity, choice, opportunity cost, Rationality, production, distribution, consumption|
|b. Economic problems of: what, how and for whom to produce|
|2. Economic Systems||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||a. Scientific Approach:|
|i. inductive and deductive methods|
|ii. positive and normative reasoning|
|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||a. Meaning and determinants of 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||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||a. Meaning and determinants of 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||a. The concepts of market and price|
|b. Functions of the price system|
|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||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||a. The concepts of cost: Fixed, Variable Average, and Marginal|
|b. Accountants’ and Economists’ notions of cost|
|c. Short-run and long-run costs|
Jamb Economics Syllabus 2023/2024 Recommended Textbook
|Aderinto, A.A||Economics: Exam Focus||1996||University Press Plc, Ibadan|
|Black, J.||Oxford Dictionary of Economics||1997||Oxford University Press|
|Eyiyere, D.O.||Economics Made Easy||1980||Quality Publishers Ltd, Benin City|
|Fajana, F et al||Countdown to SSCE/JME Economics||1999||Evans, Ibadan|
|Falodun, A.B. et al||Round-up Economics||1997||Longman, Lagos|
|Kountsoyiannis, A.||Modern Microeconomics||1979||Macmillan, London|
|Lawal, O.A.||Success in Economics||1985||John Muray, London|
|Lipsey, R.G.||An Introduction to Positive Economics||1997||Oxford University Press|
|Samuelson, P and||Economics||1989||McGraw-Hill, Singapore|
|Udu E and Agu G.A.||New System Economics: a Senior Secondary Course||2005||Africana FIRST Publishers Ltd, Ibadan|
|Wannacott and||Economics||1979||McGraw-Hill, New York|
|Wisdomline Pass at||Once JAMB|
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