New WAEC Economics Syllabus (For GCE too)

Would you like to get WAEC or GCE Economics syllabus for topics to study in Economics?

In this library,

You will see the latest WAEC Economics syllabus this year with free PDF copy for the topics where your English questions in WAEC or GCE will come from.

ALSO SEE: 

• CURRENT WAEC | GCE SYLLABUS FOR OTHER SUBJECTS.

How many questions are in WAEC Economics exam?

WAEC or GCE Economics exam has about 58 questions from two papers.

• PAPER 1: the objective paper with (50) objective questions for 1 hour. 

• PAPER 2: the theory paper with (8) questions in two sections for 2 hours.
  • SECTION (A) – has 2 questions for you to answer 1.
  • SECTION (B) – has 6 questions for you to answer 3.

What are the topics in GCE or WAEC Economics syllabus?

The PDF version of this syllabus is included at the bottom of this post for your FREE and unlimited download.

1. Definition and scope of economics

• SCARCITY AND CHOICE

• ECONOMIC ACTIVITIES AND CLASSIFICATION

2. Factors of production

• LAND

• LABOUR

• CAPITAL

• ENTREPRENEURSHIP

3. Types and features of economic systems

• TYPES AND FEATURES

• ADVANTAGES AND DISADVANTAGES

• ECONOMIC PROBLEMS OF THE SOCIETY

4. Basic tools of economic analysis

• TABLES, GRAPHS AND CHARTS.

• BASIC STATISTICAL MEASURES.

5. Demand

• CONCEPT OF DEMAND.

• LAW OF DEMAND.

• DEMAND CURVE.

• TYPES OF DEMAND.

• ELASTICITY OF DEMAND.

6. Supply

• CONCEPT OF SUPPLY.

• LAW OF SUPPLY.

• SUPPLY CURVE.

• TYPES OF SUPPLY.

• ELASTICITY OF SUPPLY.

7. Theory of consumer behaviour

• UTILITY CONCEPT.

• LAW OF MARGINAL UTILITY.

• CONCEPT OF EQUILIBRIUM.

8. Theory of price determination

• CONCEPT OF MARKET.

• EQUILIBRIUM PRICE.

• PRICE CONTROL.

9. Theory of production

• PRODUCTION.

• DIVISION OF LABOUR.

• SCALE OF PRODUCTION.

• CONCEPT OF TOTAL.

• AVERAGE AND MARGINAL UTILITY.

• LAW OF VARIABLE PROPORTION.

10. Theory of cost and revenue

• COST CONCEPT.

• OPPORTUNITY COST AND MONEY COST.

• REVENUE CONCEPT.

11. Market structures

• CONCEPT OF A MARKET.

• PERFECT AND IMPERFECT COMPETITION.

• COST AND REVENUE CONCEPT.

• PRICE DISCRIMINATION.

12. Business organization

• TYPES AND FEATURES.

• SOURCES OF FUND.

• PROBLEMS OF BUSINESS ENTERPRISES.

• PRIVATIZATION AND COMMERCIALIZATION.

• INDIGENIZATION AND NATIONALIZATION.

13. Distributive trade

• PROCESS OF DISTRIBUTION.

14. Population and labour market

• POPULATION.

• LABOUR MARKET.

15. Agriculture

• SYSTEMS AND IMPORTANCE.

• MARKETING OF AGRICULTURAL PRODUCTS.

• AGRICULTURAL POLICIES.

• AGRICULTURAL PROBLEMS AND REMEDIES.

16. Industrialization

• MEANING AND TYPES OF INDUSTRY.

• INDUSTRIAL CONCEPTS.

• LOCATION OF INDUSTRY.

• STRATEGIES AND PROBLEMS OF INDUSTRIALIZATION.

17. National income

• NATIONAL INCOME CONCEPTS.

• MEASURING NATIONAL INCOME.

• NATIONAL INCOME DATA.

18. Money and inflation

• MONEY.

• INFLATION.

19. Financial institutions

• TYPES AND FUNCTIONS.

• MONEY AND CAPITAL MARKET.

20. Public finance

• FISCAL POLICY.

• OBJECTIVE OF PUBLIC FINANCE.

• SOURCES OF GOVERNMENT REVENUE.

• TAXATION.

• PUBLIC EXPENDITURE.

• GOVERNMENT BUDGET.

• NATIONAL DEBT.

21. Economic development and planning

• MEANING OF ECONOMIC DEVELOPMENT.

• ECONOMIC GROWTH AND DEVELOPMENT.

• PROBLEMS OF DEVELOPING COUNTRIES.

• ELEMENTS OF DEVELOPMENT PLANNING.

• TYPES OF PLANS.

22. International trade and balance of payment

• INTERNATIONAL TRADE.

• BALANCE OF PAYMENT.

23. Economic integration

• MEANING AND PROBLEMS.

24. International economic organizations

• OPEC.

• ECA.

• IMF.

• IBRD.

• AfDB.

• UNCTAD.

25. Major natural resources

• DEVELOPMENT OF MAJOR NATURAL RESOURCES.

Source: WAEC website.

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