Home » JUPEB Syllabus » Did you just register for the JUPEB program and Economics is one of the three courses you’ll be taking? Then you should read this.
We have compiled a full list of topics for JUPEB Economics and you can have a copy of it for free. Yes, you read right!
You get to see the list of topics you will be taught in class, the recommended textbooks you can study with at the library, and answers to some questions you may have about the exam. Now you can just read up on your own and be better prepared for your tests and exams.
With a pass in your JUPEB Economics exam, you are on track to getting a degree in Accounting, Economics, Business administration, or any Social Science course.
COURSE CODE | COURSE TITLE | CREDIT LOAD |
ECN001 | Principles of Economics I | 3 Units |
ECN002 | Principles of Economics II | 3 Units |
| JUPEB ECONOMICS SYLLABUS | ||
| SN | TOPICS | OBJECTIVES |
| FIRST SEMESTER | ||
| ECN001: PRINCIPLES OF ECONOMICS I | ||
| 1 | INTRODUCTION | i. Definition of Economics a) Give and explain different definitions of Economics by different Economists ii. Economics as a social science a) Explain and discuss what Social Science is with examples iii. Distinction between Social Science and Natural Science iv. Nature of economic problems a) Identify and explain economic problems such as what, how, where, and for whom to produce v. Scope and purpose of macro- and micro-economics:distinctions and limitations a) Explain, describe, and identify micro- and macroeconomic variables |
| 2 | BASIC ECONOMIC PRINCIPLES | i. Scarcity, choice, and resource allocation a) Meaning of scarcity and the inevitability of choices at all levels (individuals, firms, government) b) Opportunity cost c) Basic questions of what will be produced, how, and for whom ii. Different allocative mechanisms a) Market Economies b) Planned Economies c) Mixed Economies iii. Production possibility curve-shape and shifts iv. Positive and normative statements v. Factors of production: land, labour, capital, enterprise vi. Division of labour vii. Efficient resource allocation viii. Economic efficiency: Productive and allocative efficiency |
| 3 | TOOLS AND METHODS OF ECONOMIC ANALYSIS | i. Functional relationships- Algebraic and Geometric Form ii. Systems of equations- Economic equations iii. Variables- Endogenous and Exogenous iv. Interpretation and comprehension of statistical data v. Application of the use of statistical data in Nigerian economy and solving global economic problems vi. Inductive and deductive methods vii. Advantages and limits of mathematical tools |
| 4 | THE PRICE SYSTEM | i. Individual/demand curve ii. Aggregation of individual demand curves to give market demand iii. Factors influencing demand iv. Movements along and shifts of a demand curve v. Price, income and cross-elasticities of demand a) Meaning and calculation b)Factors affecting implications for business decisions vi. Supply curve analysis aggregation of individual supply curves to give market supply vii. Factors influencing market supply including direct taxes and subsidies movement along and shifts of a supply curve viii. Price elasticity of supply: determinants, implication for speed/ ease with which businesses react to market conditions ix. Interaction of demand and supply: equilibrium price and quantity x. Government intervention via maximum price controls, price stabilization, taxes, subsidies, direct provision Of goods and services |
| 5 | THEORY OF CONSUMER BEHAVIOR | i. Concept of utility ii. Law of diminishing marginal utility and its relationship to derivation of an individual demand schedule and curve a) Equi-Marginal principle b) Limitations of marginal utility theory iii. Cardinal and ordinal approaches to the theory of budget line to utility iv. Budget lines v. Income and substitution effects to price change |
| 6 | THEORY OF THE FIRM | i. Short-run production function: Fixed and Variable factors of production, Total Product Asnage Product and Marginal Product ii. Law of diminishing returns (Law of Variable Proportions) iii Long-run Production function a) Returns to Slacale iv. Economist’s versus accountant’s definition of costs a) Marginal cost and average cost b) Short-run cost function- c) Fixed costs versus variable costs d) Explanation of the shape of SRAC e) Long-run cost function f) Explanation of LRAC g) Relationship between economies of scale and decreasing costs internal and external economies of Scale v. Survival of small firms a) Growth of firms vi. Relationship between elasticity, marginal, average, and total revenue for a downward-sloping demand curve vii. Concepts of firm and industry viii. Traditional objective of a firm-profit maximization a) Normal and abnormal profit |
| 7 | MARKET STRUCTURE | i. Different market structures-perfect competition, monopoly, monopolistic competition, oligopoly, structure of markets as explained by a number of buyers and sellers. ii. Nature of rroduct, degree of freedom of entry, and nature of information. iii. Contestable markets iv. Conduct of Firms- a) Policy and non-price policy, including price discrimination, b) Price leadership models and mutual interdependence in the case of oligopolies v. Performance of firms- in terms of a) Output, b) Profits and efficiency comparisons about economic efficiency, c) Barriers to Entry, d) Price Competition, e) Non-price competition and collision |
| 8 | THEORY OF INCOME DISTRIBUTION | i. Demand for labour, a) Meaning and factors affecting demand for labour, b) Derivation of individual firm’s demand for a factor using marginal revenue product theory ii. Supply of labour- a) Meaning and factors affecting supply, b) Net advantages and the long-run supply of labour iii. Wage determination under free market Flforces (Competitive Product and Factor Markets) iv. The role of trade unions and government in wage determination v. Wage differentials and economic rent |
| 9 | GOVERNMENT INTERVENTION | i. Sources of market failure ii. Market Imperfections- Existence of monopolistic elements iii. Objectives of government microeconomic policy: Efficiency, Equity iv. Policies to correct market failure: Regulation v. Policies towards income and wealth distribution vi. Effectiveness of government policies vii. Privatization viii. Externalities ix. Social cost as a sum of private costs and external costs x. Social benefits as the sum of private benefits and external benefits xi. Decision making using cost-benefit analysis xii. Private goods and public goods xiii. Merit goods and demerit goods |
| ECN002: PRINCIPLES OF ECONOMICS II | ||
| 10 | CIRCULAR FLOW OF INCOME | i. The concept of the circular flow of income ii. The circular flow of aggregate income without government, with Government, and with Foreign Sector (3- Sector Economy) iii. The concept of aggregate savings, consumption, and investment (aggregate demand) |
| 11 | NATIONAL INCOME ACCOUNTING | i. The concept of Gross National Product (GNP), Gross Domestic Product (GDP), Net National Product(NNP), Disposable National Income (NI), etc ii. Methods of measuring national income: Input, output, income, and expenditure method iii. Problems arising from National Income Measurement iv. Determinants and uses of National Income Statistics |
| 12 | THEORY OF NATIONAL INCOME AND DETERMINATION | i. The Keynesian Theory: Aggregate Demand and Aggregate Supply ii. The Theory of saving, consumption and investment functions-concepts of average and marginal propensities iii. Household consumption pattern: a) Theories of consumption expenditure b) Absolute theory of consumption, permanent income hypothesis, life-cycle hypothesis, etc. c) The determination of the equilibrium level of national income d) Inflationary and deflationary gaps: specific adjustment policies for each e) Shifts in the aggregate demand function and national income equilibrium f) The multiplier and accelerator principle |
| 13 | MONEY AND BANKING | i. Nature and history of money ii. Properties of good money iii. The traditional functions of money and its role in economic fevelopment. iv. Motives for holding money. v. Supply of money and quantity theory of money vi. The demand for money vii. Theory of interest rate determination viii. The central bank, commercial banks, and development Banks. ix. The money and capital market x. Other liquidity a) Financial institutions. b) The importance of liquidity |
| 14 | INFLATION AMD UNEMPLOYMENT | i. The meaning of inflation. ii. Theories, types, causes, effects and remedies of inflation with special reference to the Nigerian economy. iii. The construction and uses of index numbers. iv. Real and money wages v. The meaning of unemployment. vi. Theories, causes, effects, and measures to curb unemployment in Nigeria. vii. The Phillips curve and stagflation |
| 15 | PUBLIC FINANCE | i. Sources of government revenue ii. Reasons and types of government expenditure iii. The growth of government expenditure iv. Taxations: principles and types of taxation v. Problems associated with the collection of tax revenue vi. Revenue sharing principle vii. Budget-types and forms of budgeting viii. The budget of the federal government a) National debt |
COURSE CODE | COURSE TITLE | CREDIT LOAD |
ECN003 | Applied Economics I | 3 Units |
ECN004 | Applied Economics II | 3 Units |
| SECOND SEMESTER | ||
| ECN003: APPLIED ECONOMICS I | ||
| 16 | ECONOMIC STRUCTURE OF WEST AFRICA | i. The Production Sector: Primary (Agriculture), Secondary (Manufacturing) and Tertiary (Services) sectors ii. Historical perspective of their contribution to GNP and growth of the economy iii. Public and private sector |
| 17 | GROWTH AND DEVELOPMENT | i. Under-development ii. The concept of economic growth iii. Development and under-development iv. The development of human resources In education, technical skills, and entrepreneurship v. The mobilization of domestic resources vi. The role of science and technology in the development process |
| 18 | POPULATION | i. History of world population growth ii. Structure and distribution of world population today iii. Population structure and the labour force iv. Malthusian population theory and the population cycle v. Population pyramids, birth rates, and death rates vi. Concept of optimum population and population explosion vii. Food and resource allocation vis-A-vis population, population and poverty versus family life education viii. Population control ix. The effects of HIV/AIDS on the labour force and its productivity x. Gender and productivity |
| 19 | INTERNATIONAL TRADE | i. Fixed and floating exchange rates. The concept of international liquidity. Benefits and problems of international trade. The new economic order ii. Principles of absolute and comparative advantage, and their real-world limitations, other explanations/ determinants of trade flows. Opportunity cost concept applied to trade iii. Domestic and international trade international division of labour and specialization. Theories of absolute and comparative advantage a) Arguments for free trade and motives for protection b) Types of protection and their effects c) Economic integration: Free trade area, customs union, Economic Union d) Terms of trade e) Components of the balance of payments f) Balance of payments problems iv. Meaning of balance of payments equilibrium and disequilibrium v. Causes of balance of payments vi. Disequilibrium consequences of balance of payments disequilibrium on domestic and external economy a) Fluctuations in foreign exchange rates vii. Definitions and measurement of exchange rates- Nominal, Real, Trade a) Weighted Exchange Rates viii. Determination of exchange rates a) Floating, Fixed, Managed Float: Corrective Measures ix. Factors underlying exchange rates x. Effects of changing exchange rates on the economy |
| ECN004: APPLIED ECONOMICS II | ||
| 20 | MEASUREMENT & APPLICATION IN MACROECONOMICS | i. Comparison of economic growth rates and living standards over time and between countries ii. Other indicators of living standards and economic development iii. Main schools of thought on how the macro-economy functions- Keynesians and Monetarist iv. Aggregate expenditure function (AE) Meaning. v. Components of AL and their determinants income. Determination using approach and withdrawal injection vi. Approach inflationary and deflationary gaps; Full employment level of income Versus Equilibrium level of income |
| 21 | APPLIED ISSUE IN LABOR ECONOMICS | i. Demand and supply of labour ii. Employment statistics size and components of labour force. iii. Labour productivity, iv. Definition of unemployment, v. Unemployment Rate, vi. Patterns and trend in umemployment, vii. Difficulties involved in measuring unemployment |
| 22 | STABILIZATING POLICIES IN DEVELOPING COUNTRIES | i. Objectives of Macroeconomic Policy: Stabilization of growth ii. Policies towards developing economies, policies of trade, and aid iii. Types of Policy: Aims and Instruments of each policy, How each is used to control inflation, stimulate employment, stimulate growth and development. iv. Correct balance of payments v. Disequilibrium and effectiveness of each: a) Fiscal b) Monetary c) Exchange Rate Policy d) Supply Side Policy vi. Evaluating policy options to deal with problems arising from conflicts between policy objectives on inflation. Unemployment, economic growth, balance of payments. Exchange rates and the distribution of income and wealth vii. Policies designed to correct the balance of payments disequilibrium or influence the exchange rate viii. Conflicts between policy objectives on inflation, balance of payments, and exchange rate ix. Application of stabilization policies in Nigeria |
| 23 | INTERNATIONAL ECONOMIC INSTITUTIONS | i. Meaning, Types/ stages, and benefits of international economic integration ii. Economic Community of West African States (ECOWAS), Economic Commission Africa (ECA) in (AU), African Union Organization of Petroleum Exporting Countries (OPEC European Union (EU), World Bank, International Monetary Fund (IMF), African Development Bank (ADB) iii. Foreign Direct Investment and portfolio investment. iv. Globalization |
1. Economics for a Developing World. Michael P. Todaro (Revised Edition)
2 Introduction to Positive Economics. Richard P. Lipsey, (7th Edition)
3. Structure of West African Economy: S.O Olayide
4. Intermediate Economics Analysis. S.M Essang and S. O Olayide
5. Economics. Paul Samuelson.
6. a) Modern Microeconomics. A. Koutsoyiannis
b) Modern Macroeconomics. A. Koutsoyiannis
7. Introduction to Mathematical Economics. Caroline Dimwiddy
8. a) Microeconomics. Edward Shapiro
b) Macroeconomics. Edward Shapiro
9. Growth and Development with Economics. A.P. Tharlwalt.
10. The Economics of Development and Planning. M.I. Jhingan
11. Advanced Economic Theory. M.I. Jhingan
12. Macroeconomic Theory: M. I. Jhingan
14. Monetary Theory, Policy and Institutions. J.C. Anyanwu
15. Modern Macroeconomics: Theory and Applications in Nigeria. J.C.
16. The Nigerian Economy: 1960-1999. J.C. Anyanwu et al
17. Penguin Dictionary of Economics. Bannock, Graham, et al (eds)
18. Routledge Dictionary of Economics (2nd Edition). Rutherford, Donald
19. The Complete A-Z Economics Handbook (3rd edition). Wall, Nancy
NOTE: Candidates are required to write 3 subjects in the qualifying examination)
JUPEB currently offers examinations in the following nineteen (19) subjects as detailed in its syllabuses. The subjects can be classified into 3 categories: Arts & Humanities, Management & Social Science and Sciences
The JUPEB Economics exam will cover all the topics listed in the syllabus above. Go through them and study.
If you are interested in pursuing careers in Accounting, Economics, Business administration, or any Social Science course, you will have to write Economics in JUPEB.
You will be required to answer 50 multiple-choice, and 4 essay questions based on the syllabus listed above.
You will be required to answer 50 multiple-choice, and 4 essay questions based on the syllabus listed above.
Before you start writing, read all the instructions given and adhere to them. Next, read and analyze each question and be as detailed as possible, provide relevant examples where necessary, and always cross-check your work before you submit it.
No. It will just be a multiple-choice section and an essay section.
Here are a few tips for you:
-Start studying early enough. Do not do last-minute reading. You should also attend classes as often as you can and join study groups.
Another tip is to study past questions regularly and ensure you get a good night’s rest a day before your exam.
Good luck!
