JAMB Economics Curriculum
Your course of study, class by class and term by term. Work through the units in order and tick each one off.
- 72 study units
- 9 terms
- SS1 to SS3
The curriculum comes with the Complete plan
Complete gives you mock exams, revision notes, the curriculum checklist and past papers, as well as every practice question with its explanation. ₦10,000 a month, or ₦108,000 a year.
SS1 Foundation
Economic ideas, tools of analysis, production, economic systems and the Nigerian setting
First Term 8 units
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1
Unit 01
Meaning and Scope of Economics
Definitions by leading economists; economics as a social science; micro and macroeconomics; positive and normative statements.
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2
Unit 02
Wants, Scarcity, Choice and Opportunity Cost
Human wants, scarce resources, scale of preference and the real cost of choices.
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3
Unit 03
Basic Economic Problems of Society
What, how, for whom and where to produce; efficiency and growth.
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4
Unit 04
Production Possibility Curve
Assumptions, shape, points inside, on and outside the curve, opportunity cost and shifts.
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5
Unit 05
Economic Activities and Channels of Distribution
Production, distribution, exchange and consumption; wholesalers, retailers and middlemen.
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6
Unit 06
Tables, Graphs and Charts
Tables, line graphs, bar and pie charts, histograms and the slope of a line.
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7
Unit 07
Measures of Central Tendency
Mean, median and mode for ungrouped and grouped data; merits and demerits.
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8
Unit 08
Measures of Dispersion
Range, mean deviation, variance and standard deviation.
Second Term 8 units
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1
Unit 01
Meaning and Types of Production
Direct and indirect production; primary, secondary and tertiary production; utility created.
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2
Unit 02
Land as a Factor of Production
Characteristics of land, rent and economic rent, land tenure.
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3
Unit 03
Labour, Its Supply and Efficiency
Supply of labour, efficiency, mobility of labour and wages.
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4
Unit 04
Capital and Capital Formation
Types of capital, saving and investment, depreciation, interest.
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5
Unit 05
Entrepreneurship and Risk-bearing
Functions and qualities of the entrepreneur, insurable and non-insurable risks, profit.
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6
Unit 06
Capitalism (Free Market Economy)
Private ownership, price mechanism, profit motive and competition; merits and demerits.
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7
Unit 07
Socialism and Planned Economies
State ownership, central planning and equity; merits and demerits.
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8
Unit 08
Mixed Economy and the Nigerian Economy
Public and private sectors working together; features, merits and demerits.
Third Term 8 units
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1
Unit 01
Sole Proprietorship and Partnership
Formation, features, merits and demerits; types of partner.
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2
Unit 02
Companies, Cooperatives and Business Finance
Private and public limited companies, cooperatives; shares, loans and other sources of finance.
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3
Unit 03
Public Enterprises and Privatisation
Public corporations, their problems, privatisation and commercialisation.
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4
Unit 04
Population Theories and Growth
Malthusian and demographic transition theories, optimum population, growth rates.
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5
Unit 05
Population Structure, Census and Migration
Age and sex structure, dependency ratio, census, rural–urban migration.
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6
Unit 06
Agriculture in the Nigerian Economy
Types and systems of agriculture, importance and problems.
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7
Unit 07
Agricultural Policies, Marketing and Prices
Government programmes, marketing boards, causes and control of price instability.
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8
Unit 08
SS1 Integrated Review
Economic problems, production, systems, statistics and the Nigerian setting.
SS2 Development
Demand, supply and prices, consumers, firms and markets, money and banking
First Term 8 units
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1
Unit 01
The Law of Demand
Demand schedule and curve, the law and its exceptions, market demand.
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2
Unit 02
Types of Demand and Changes in Demand
Joint, competitive, derived and composite demand; determinants and shifts.
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3
Unit 03
The Law of Supply and Changes in Supply
Supply schedule and curve, exceptions, determinants and shifts.
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4
Unit 04
Price Elasticity of Demand
Formula, types, determinants and the total revenue test.
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5
Unit 05
Income, Cross and Supply Elasticities
Income and cross elasticity of demand; elasticity of supply and time.
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6
Unit 06
Markets and Equilibrium Price
Types of market; equilibrium from schedules and equations; excess demand and supply.
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7
Unit 07
Effects of Changes in Demand and Supply
Shifts of one or both curves; taxes and subsidies.
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8
Unit 08
Price Control, Rationing and the Price System
Maximum and minimum prices, rationing, functions of the price mechanism.
Second Term 8 units
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1
Unit 01
Utility and Diminishing Marginal Utility
Total and marginal utility; the law of diminishing marginal utility.
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2
Unit 02
Consumer Equilibrium
Equilibrium with one good and with several goods; the equi-marginal principle.
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3
Unit 03
Indifference Curves and the Budget Line
Indifference curves, marginal rate of substitution, budget line and equilibrium.
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4
Unit 04
Consumer Surplus and Consumer Sovereignty
Willingness to pay and consumer surplus; conditions for and limits to consumer sovereignty.
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5
Unit 05
Division of Labour and Specialisation
Types, advantages, disadvantages and limits of specialisation.
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6
Unit 06
Scale of Production and Growth of Firms
Economies and diseconomies of scale; size, integration and growth of firms.
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7
Unit 07
Diminishing Returns and Returns to Scale
Total, average and marginal product; the law of variable proportions; returns to scale.
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8
Unit 08
Cost Concepts and Cost Curves
Fixed, variable, total, average and marginal costs; short-run and long-run curves.
Third Term 8 units
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1
Unit 01
Revenue and Profit Maximisation
Total, average and marginal revenue; MC = MR; break-even and shut-down.
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2
Unit 02
Perfect Competition
Assumptions, short-run and long-run equilibrium of the firm and industry.
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3
Unit 03
Monopoly and Price Discrimination
Barriers to entry, monopoly equilibrium, price discrimination and regulation.
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4
Unit 04
Monopolistic Competition and Oligopoly
Product differentiation, excess capacity, interdependence and the kinked demand curve.
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5
Unit 05
Money: Functions, Demand and Supply
Barter, functions and qualities of money, motives for holding money, money supply.
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6
Unit 06
Value of Money, Inflation and Deflation
Price indices, the quantity theory, types, causes, effects and control of inflation.
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7
Unit 07
Commercial Banks and Credit Creation
Functions of commercial banks, liquidity and profitability, the credit multiplier.
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8
Unit 08
Central Bank and Monetary Policy
Functions of the Central Bank of Nigeria and the instruments of monetary policy.
SS3 Mastery
National income, public finance, development, Nigeria and the world economy, and examination practice
First Term 8 units
-
1
Unit 01
Money Market, Capital Market and Other Institutions
Money and capital markets, the stock exchange, development and other banks.
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2
Unit 02
National Income Concepts and Measurement
GDP, GNP, NNP, per capita income; income, output and expenditure methods; uses and problems.
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3
Unit 03
Consumption, Saving, Investment and the Multiplier
Circular flow, consumption and saving functions, equilibrium income, the multiplier.
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4
Unit 04
Taxation
Objectives, types and canons of taxation; progressive, proportional and regressive taxes; incidence.
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5
Unit 05
Public Expenditure, Budgets and Public Debt
Recurrent and capital spending, budgets, fiscal policy, public debt and revenue allocation.
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6
Unit 06
Growth, Development and Underdevelopment
Growth versus development, indicators, features of developing countries, unemployment.
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7
Unit 07
Development Planning in Nigeria
Types and stages of plans, Nigeria's development plans and their problems.
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8
Unit 08
Location and Localisation of Industry
Factors of industrial location, localisation and its effects.
Second Term 8 units
-
1
Unit 01
Industrialisation in Nigeria
Strategies, small and medium enterprises, problems and government measures.
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2
Unit 02
Petroleum and the Nigerian Economy
Development of the oil industry, its contribution and problems, OPEC.
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3
Unit 03
Solid Minerals and Other Natural Resources
Major minerals and their locations, forestry, water, conservation.
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4
Unit 04
Comparative Advantage and Terms of Trade
Absolute and comparative advantage, gains from trade, terms of trade.
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5
Unit 05
Balance of Payments
Current and capital accounts, disequilibrium and its correction.
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6
Unit 06
Exchange Rates and Trade Policy
Exchange-rate systems, devaluation, protection and free trade.
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7
Unit 07
Regional Economic Organisations
ECOWAS, the African Union, AfDB and forms of economic integration.
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8
Unit 08
International Economic Institutions
IMF, World Bank, WTO, UNCTAD and OPEC.
Third Term 8 units
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1
Unit 01
Demand, Supply and Prices Review
Demand, supply, elasticity, equilibrium and price control.
-
2
Unit 02
Production, Costs and Market Structures Review
Returns, costs, revenue and market structures.
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3
Unit 03
National Income, Money and Banking Review
National income, the multiplier, money, inflation and banking.
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4
Unit 04
Public Finance and Development Review
Taxation, budgets, growth, development and planning.
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5
Unit 05
Nigerian Economy and International Trade Review
Agriculture, industry, petroleum, trade, the balance of payments and organisations.
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6
Unit 06
Data Response and Calculation Skills
Tables, graphs, averages, elasticities, national income and trade data.
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7
Unit 07
UTME Objective and Time Practice
Timed objective papers across the whole syllabus; distractor traps.
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8
Unit 08
Final Mock and Corrective Review
A full mock, error log and targeted revision of weak topics.