If you’re preparing for the JAMB Economics exam for the 2025/2026 academic session, you’ve come to the right place.
Economics is one of the most engaging and practical subjects, but it also requires a focused study plan.
This article lists the areas you need to concentrate on, using simple, easy-to-understand language to help you ace your exam.
JAMB Areas of Concentration for Economics 2025/2026
1. Economics as a Science
- Understand basic concepts like scarcity, opportunity cost, scale of preference, and rational decision-making.
- Learn about the Production Possibility Frontier (PPF) and how it explains economic trade-offs.
2. Economic Systems
- Explore types of economic systems: Capitalism, socialism, and mixed economies.
- Understand how these systems solve the basic economic problems of what, how, and for whom to produce.
- Study contemporary issues like deregulation and privatization in Nigeria.
3. Demand and Supply
These are the backbone of economics. Focus on:
Demand
- What demand means and the factors that influence it.
- The difference between changes in demand and changes in quantity demanded.
- Elasticity of demand (price, income, and cross elasticity).
Supply
- Learn about supply schedules and curves.
- Understand the difference between changes in supply and changes in quantity supplied.
- Elasticity of supply and its practical applications.
4. Consumer Behavior
- Understand the concept of utility (total, average, and marginal utility).
- Learn about indifference curves and how they show consumer choices.
- Study the idea of consumer surplus and how it benefits buyers.
5. Production and Costs
- Understand the factors of production: Land, labor, capital, and entrepreneurship.
- Learn about economies of scale and how businesses grow and reduce costs.
- Differentiate between types of costs: Fixed, variable, total, average, and marginal costs.
6. National Income
- Understand concepts like GDP, GNP, disposable income, and per capita income.
- Learn methods of measuring national income: Income, expenditure, and output methods.
- Study challenges Nigeria faces in calculating national income, such as inadequate data and informal sector activities.
7. Market Structures
- Study perfect competition: Characteristics and examples.
- Understand monopoly and oligopoly: Their features and how they differ from competitive markets.
- Learn about monopolistic competition: A mix of monopoly and perfect competition.
8. Money and Banking
- Understand the functions of money and the evolution of Nigeria’s monetary system.
- Learn about the roles of banks, especially the Central Bank of Nigeria (CBN), in regulating the economy.
- Study monetary policies and their impact on inflation, unemployment, and economic growth.
9. International Trade
- Understand the difference between balance of trade and balance of payments.
- Learn the advantages and disadvantages of international trade.
- Study Nigeria’s trade relationships and the role of organizations like ECOWAS and the WTO.
10. Economic Development
- Differentiate between economic growth and economic development.
- Understand factors that promote development, such as technology, infrastructure, and education.
- Learn about challenges facing Nigeria’s economy, like unemployment, corruption, and poor infrastructure.
Tips for Studying Economics for JAMB
- Get the JAMB syllabus: Use it to guide your study plan.
- Practice past questions: They often repeat topics, so this is a goldmine.
- Understand, don’t cram: Economics is logical, so focus on understanding concepts.
- Use recommended textbooks: Some include “Essential Economics” and “Comprehensive Economics.”
Remember, consistent practice and thorough understanding are your keys to scoring high. Good luck.