Candidates can direct their reading or study toward the better topics and courses that will be required for the 2023 UTME exam by using the Jamb Syllabus for Economics.
Describe the Jamb Syllabus
Simply put, it refers to a list of subjects that the Jamb has converted into exam questions from academic courses.
There is a way to go about reading your syllabus, but students often struggle to find the right tools or materials to study with. Your JAMB Economics syllabus is not intended to limit you to knowing the subjects you should continue to concentrate on by studying and solving
This JAMB Economics Syllabus is intended to help candidates prepare for the Unified Tertiary Matriculation Examination (UTME).
• Understanding concepts to respond to questions on various topics; • Speed in calculation and manipulative skills; • Comprehension of questions put forth;
The five segments of the Jamb Economics syllabus are:
I. Natural Resources and the Nigerian Economy.
III. The Theory of Price Determination II. The Theory of Consumer Behavior
Industry and industrialization, part four
Read also about JAMB 2022 Syllabus or Jamb Economics Past Questions
V. Data Analysis
Essential JAMB Economics Syllabus 2023
1. The science of economics
Topics:
I. Fundamental Ideas: Wants, Scarcity, Scale of Preference, Choice, Opportunity Cost, Rationality, Production, Distribution, and Consumption
ii. Economic issues with what, how, and for whom to produce as well as resource use efficiency.
Application of PPF to address economic issues.
Objectives:
Candidates should be able to: \si. compare various concepts in economics and their applications; \sii. interpret graphs/schedules in relation to the concepts; \siii. identify economic problems; \siv. proffer solutions to economic problems
2. Economic Systems \sTopics:
Types and character traits of free market capitalism, central planning and mixed economies
Remedies to economic difficulties under different systems
Contemporaneous issues in economic models (economic reforms e.g deregulation, banking sector centralization, cash policy reform) (economic reforms e.g deregulation, banking sector consolidation, cash policy reform).
Objectives: \si. Candidates should be able to: \sii. compare various economic systems; \siii. apply their understanding of economic models to contemporary issues in Nigeria
iv. suitable for multi to economic issues in various economic systems.
3. Tools and Techniques of Economic Research
Topics: \sa. Scientific Approach:
i. causal inference and deductive methods
ii. positive and ethical rationalization
b. Basic Tools
I. tables, graphs, and charts
ii. applications of the mean, median, and mode as measures of central tendency.
Measures of dispersion, variance, standard deviation, range, and their uses, as well as the benefits and drawbacks of the tools, are covered in section iii.
Candidates should be able to: i. identify different types of reasoning; ii. apply these types of reasoning to real-world situations; iv. use the tools to interpret economic data; v. use the tools to analyze economic data; and vi. evaluate the benefits and drawbacks of the tools.
4. The Demand Theory
I. The definition and factors affecting demand
ii. Demand curves and schedules
iii. recognizing the difference between a change in the quantity demanded and a change in the demand.
iv. Demand Types: Demand that is combined, derived, competitive, and joint:
Vi. The importance of elasticities to consumers, producers, and the government. Types, nature, and determinants of elasticity, as well as their measurement, include price, income, and cross elasticity of demand.
Objectives: Candidates should be able to distinguish between changes in quantity demanded and changes in demand, identify the factors affecting demand, and interpret demand curves from demand schedules.
Compare the various demand types and how they interact; relate the determinants to the elasticity’s characteristics;
calculate the elasticity;
Analyze elasticity coefficients in light of practical circumstances.
5. The Theory of Customer Behavior
Topics:
Basic Concepts:
Power company (cardinal, ordinal, total average, and marginal utilities) and the indifference curve and budget line make up the first two categories.
ii. The law of demand and diminishing marginal utility.
iii. Consumer equilibrium using marginal analyses and the indifference curve.
Effects of the budget line shift and the indifference curve, section iv
Consumer surplus and its uses, v.
Objectives:
Candidates should be able to: I explain the numerous product concepts; (ii) use the marginal value analysis to apply the law of demand;