Economics Syllabus for JAMB UTME

New free Economics Syllabus for JAMB UTME Entrance Examination into Tertiary Institutions from Joint Admissions and Matriculation Board (JAMB) for Unified Tertiary Matriculation Examination (UTME) by Association of Tutorial School Operators (ATSO) available free download PDF-Schemeofwork.com

Contents

UTME Economics Syllabus for JAMB Syllabus for JAMB UTME Subjects Links

Comprehensive Unified Tertiary Matriculation Examination (UTME) Tutorial Syllabus for Economics.

UTME Economics Syllabus for JAMB

It cover the official UTME syllabus topics for Economics twenty-two (22) weeks tutorials plan. It provides the teachers/tutors with a comprehensive approach to covering the UTME curriculum and yet comprehensible topic outlines for the students. It enhances quality teaching for tutors and provides an all-inclusive learning scope and excellence-oriented drift for students.

WEEK	SESSION TOPICS CONTENTS	CLASS OBJECTIVES
WEEK 1	ECONOMICS AS A SCIENCE/ ECONOMIC SYTEM. TOPIC; Basic concept; wants, scarcity, choice, scale of preference, opportunity cost, rationality, production, distribution, consumption.Economic problem of; what, how, and for whom to produce and efficiency of resource use.Application of PPF to solution of economic problems.Types; free enterprise centrally planned and mixed economies.Solution to economic problems under different systemsContemporary issues in economic systems (economic reform).	*At the end of this topic(s), tutorial students are expected to know how to;* Compare various concepts in economics and their application and economic system; Interpret graphs/schedules in relation to the concepts; Identify economic problems; Proffer solutions to economic problems/ in different economic systems. Apply the knowledge of economic systems to contemporary issues in Nigeria.
WEEK 2	METHODS AND TOOLS OF ECONOMIC ANALYSIS. TOPIC; a. Scientific approach; Inductive and deductive methodsPositive and normative reasoning b. Basic tools Tables, charts and graphsMeasures of central tendency; mean, median and mode and their applications.Measures of dispersion; variance, standard deviation, range and their applications;Merit and demerits of the tools.	*At the end of this topic(s), tutorial students are expected to know how to;* Distinguish between the various forms of reasoning; Apply these forms of reasoning to real life situations; Use the tools to interpret economic data; Discuss economic data using the tools; Assess the merits and demerits of the tools.
WEEK 3	THE THEORY OF DEMAND TOPIC; Meaning and determinant of demand, demand schedules and curves, the distinction between change in demand.Types of demand; composite, derived, competitive and joint demand;Types, nature and determinant of elasticity and their measurement- price, income and cross elasticity of demand;Importance of elasticity of demand to consumer, producers and government.	*At the end of this topic(s), tutorial students are expected to know how to;* Identify the factor determining demand; Interpret demand curves from demand schedules; Differentiate between change in quantity demanded and change in demand; Compare the various types of demand and their interrelationship; Interpret elasticity coefficients in relation to real life situations.

WEEK 4	THE THEORY OF CONSUMER BEHAVIOUR TOPIC; a. Basic concept Utility [cardinal, ordinal, total average and marginal utilities]Indifference curve and budget line; Diminishing marginal utility and the law of demand.Consumer equilibrium using the indifference curve and marginal analyses.Effects of shift in the budget line and the indifference curve.Consumer surplus and its applications.	*At the end of this topic(s), tutorial students are expected to know how to;* Appraise the various utility concept. Use indifference curve and marginal analyses to determine consumer equilibrium. Associate the income and substitution effects. Apply consumer surplus to real life situations.
WEEK 5	THE THEORY OF SUPPLY TOPICS; Meaning and determinants of supply, supply schedules and supply curves, the distinction between change in quantity supplied and change in supply.Types of supply; joint/complementary, competitive and composite.Elasticity of supply; determinants, measurements, nature and applications.	*At the end of this topic(s), tutorial students are expected to know how to;* Identify the factors determining su7pply; Relate the determinants to the nature of elasticity; Interpret supply curves from supply schedules; Interpret the coefficients in relation to real life situations.
WEEK 6	THE THEORY OF PRICE DETERMINATION TOPIC; The concept of market and priceFunctions of the price systemEquilibrium price and quantity in product and factor markets, price legislation and its effects.The effect of changes in supply and demand on equilibrium price and quantity.	*At the end of this topic(s), tutorial students are expected to know how to;* Explain the concepts of market and price; Examine the functions of the price system; Differentiate between minimum and maximum price legislation; Interpret the effects of changes in supply and demand on equilibrium price and quantity.
WEEK 7	THE THEORY OF PRODUCTION TOPIC; Meaning and types of productionConcepts of production and their interrelationship [TP, AP, MP and the law of variable proportion]Division of labour and specializationScale of production; internal and external economies of scale and their implications.Production functions and returns to scaleProducers’ equilibrium isoquant – isocost and marginal analysesFactors affecting productivity.	*At the end of this topic(s), tutorial students are expected to know how to;* Relate TP, AP and MP with the law of variable proportion; Identify the types of production functions Determine he firm’s equilibrium position using the isoquant-isocost and marginal analyses. Identify the factors affecting productivity.
WEEK 8	THEORY OF COST AND REVENUE TOPIC; The concepts of cost; fixed, variable, total average and marginal.The concepts of revenue; total, average and marginal revenue;Accountants’ and economists’ notions of costShort-run and long-run costsThe marginal cost and the supply curve of a firm.	*At the end of this topic(s), tutorial students are expected to know how to;* Explain the various cost concepts Differentiate between accountants’ and economists’ notions of cost Interpret the short-run and long-run costs curves Establish the relationship between marginal cost and supply curve. Explain the various revenue concepts.

WEEK 9	MARKET STRUCTURES TOPIC; Perfectly competitive market; assumptions and characteristics; short-run and long-run equilibrium of a perfect competitor;Imperfect market; pure monopoly, discriminatory monopoly and monopolistic competition. Short-run and long-run equilibrium positionBreak-even/ shut-down analysis in the various markets.	*At the end of this topic(s), tutorial students are expected to know how to;* Analyses the assumptions and characteristics of a perfectly competitive market; Differentiate between the short-run and long-run equilibrium of imperfectly competitive firms; Establish the conditions for the break-even/ shut down of firms.
WEEK 10	NATIONAL INCOME TOPIC; The concept of GNP, GDP, NI, NNP.National income measurement and their problemsUses and limitations of national income estimatesThe circular flow of income [ two and three-sector models]The concepts of consumption, investment and savings.The multiplier and its effectsElementary theory of income determination and equilibrium national income.	*At the end of this topic(s), tutorial students are expected to know how to;* Identify the major concepts in national income; Compare the different ways of measuring national income; Calculate the various multipliers; Evaluate their effects on equilibrium national income; Explain the concepts of consumption, investment and savings.
WEEK 11	MONEY AND INFLATION TOPIC; Types, characteristics and functions of moneyDemand for money and the supply of moneyQuantity theory of money [ fisher equation]The value of money and the price levelInflation; types, measurements, effects and control.Deflation; measurements, effects and control.	*At the end of this topic(s), tutorial students are expected to know how to;* Explain between the types, characteristics and functions of money; Identify the factors affecting the demand for and the supply of money; Examine the causes, measurement, effects and control of deflation.
CHRISTMAS & NEW YEAR HOLIDAYS
WEEK 12	FINANCIAL INSTITUTIONS	*At the end of this topic(s), tutorial students are*
	TOPIC; Types and function of financial institution [traditional, central bank, mortgage banks, merchant banks, insurance companies, building societies];The role of financial institutions in economic development;Money and capital markets.Financial sector regulationsDeposit money bank and the creation of moneyMonetary policy and its instrumentsChallenges facing financial institutions in Nigeria.	*expected to know how to;* Identify the types and functions of financial institutions; Explain the money creation process and its challenges; Examine the various monetary policy instruments and their effects; Appraise the challenges facing the financial institutions in Nigeria.
WEEK 13	PUBLIC FINANCE	*At the end of this topic(s), tutorial students are*
	TOPIC; Meaning and objectivesFiscal policy and its instrumentsSources of government revenue [taxes, royalties, rents, grants and aids]Principles of taxationTax incidence and its effectsThe effects of public expenditureGovernment budget and public debtsRevenue allocation and resource control in Nigeria,	*expected to know how to;* Identify the objectives of public finance; Explain fiscal policy and its instruments; Examine the types and effects of budgets; Highlight the criteria for revenue allocation in Nigeria and their impact.

WEEK 14	ECONOMIC GROWTH AND DEVELOPMENT TOPIC; Meaning and scopeIndicators of growth and developmentFactors affecting growth and developmentProblems of development in NigeriaDevelopment planning in Nigeria.	*At the end of this topic(s), tutorial students are expected to know how to;* Distinguish between economic growth and development; Highlight the indicators of growth and development; Assess the problems of development in Nigeria; Examine the role of planning in development.
WEEK 15	AGRICULTURE IN NIGERIA TOPIC; Types and features;The roles of agriculture in economic development;Problems of agricultureEffects of agricultural policies and their effects;Instability in agricultural incomes [causes, effects and solutions].	*At the end of this topic(s), tutorial students are expected to know how to;* Identify the types and features of agriculture; Examine the characteristics and problems of agriculture; Appraise agricultural policies in Nigeria; Evaluate the causes and effects of instability in agricultural incomes.
WEEK 16	INDUSTRY AND INDUSTRIALIZATION TOPIC; Concepts and effects of location and localization of industry in Nigeria;Strategies and industrialization in Nigeria;Industrialization and economic development in Nigeria;Funding and management of business organization;Factors determining the size of firms.	*At the end of this topic(s), tutorial students are expected to know how to;* Differentiate between location and localization of industry; Examine the problems of industrialization; Appraise some industrialization strategies; Examine the role of industry in economic development.
WEEK 17	NATURAL RESOURCES AND THE NIGERIAN ECONOMY TOPIC; Development of major natural resources [petroleum, gold, diamond, timber e t c]Contributions of the oil and the non-oil sectors to the Nigerian economyLinkage effectsUpstream/downstream of the oil sectorThe role of NNPC and OPEC in the oil sector.Challenges facing natural resources exploitation.	*At the end of this topic(s), tutorial students are expected to know how to;* Trace the development of the major natural resources in Nigeria; Assess the contribution of the oil and the non-oil sectors to the Nigerian economy Suggest ways of controlling the effects of natural resource exploitation.
WEEK 18	BUSINESS ORGANIZATIONS TOPIC; Private enterprises [e. g sole- proprietorship, partnership, limited liability companies and cooperative societies]Problems of private enterprises;Public enterprises and their problems;Funding and management of business organizations;Factors determining the size of firmsPrivatization and commercialization as solutions to the problems of public enterprises.	*At the end of this topic(s), tutorial students are expected to know how to;* Compare the types and basic features of private business organization; Identify the features of public enterprises; Identify the factors determining the size of firms; Compare the advantages and disadvantages of privatization and commercialization.

WEEK 19	POPULATION TOPIC; Meaning and theories;Census; importance and problems.Size and growth; over-population, under-population and optimum populationStructure and distribution;Population policy and economic development.	*At the end of this topic(s), tutorial students are expected to know how to;* Analyses some population theories; Identify determinants of the size, composition and growth of population; Analyses the structure and distribution of population; Appraise government population policy in Nigeria.
WEEK 20	INTERNATIONAL TRADE TOPIC; Meaning and basic for international trade [absolute and comparative costs e t c]Balance of trade and balance of payments; problems and corrective measures;Composition and direction of Nigeria’s foreign trade;Exchange rate; meaning, types and determination.	*At the end of this topic(s), tutorial students are expected to know how to;* Examine the basic for international trade Differentiate between absolute and comparative advantages; Identify the types of exchange rates; Examine how exchange rates are determined.
WEEK 21	INTERNATIONAL ECONOMIC ORGANIZATIONS TOPIC; a. Roles and relevance of international organization e. g. ECOWAS, AU, EU, ECA, IMF, EEC, OECD, World Bank, IBRD, WTO, ADB and UNCTAD, e t c to Nigeria.	*At the end of this topic(s), tutorial students are expected to know how to;* Identify the various economic organizations and their functions; Evaluate their relevance to the Nigerian economy.
WEEK 22	FACTORS OF PRODUCTION AND THEIR THEORIES TOPIC; Types, features and rewards;Determinatio9n of wages, interest and profits.Theories; marginal productivity theory of wages and liquidity preference t5heory;Factor mobility and efficiency;Unemployment and its solutions.	*At the end of this topic(s), tutorial students are expected to know how to;* Identify the types; features and rewards of factors; Analyses the determination of wages, interest and profits; Interpret the marginal productivity of liquidity preference theories; Examine factors mobility and efficiency; Examine the types and causes of unemployment in Nigeria.