NABTEB Economics Syllabus 2022

1. Define scarcity, want,

choice and scale of

preference.

1. Examine opportunity cost

concept.

economics activities primary, secondary, tertiary and their relative contribution in terms of output/income, employment, savings and foreign exchange.

1. Calculate measures

of central tendency.

1. Calculate measures

of dispersion.

1. Calculate linear equation.

preparation and feature
3. Calculation of measures of central tendency e.g. mean,

median and mode.
4. Calculate the measures of

dispersion e.g. range, mean deviation, standard deviation, variance and coefficient of variation quartiles, deciles, and percentiles,

6. Calculation of simple linear equation.

1. Explain the concept of

margin.

1. Explain utility.
2. Discuss diminishing

marginal utility

1. Explain utility

2. The concept of margins.
3. Utility types and ways of

measuring it.
4. Concept of diminishing

marginal utility.
5. Concept of utility.
6. The law of diminishing

marginal utility.

diminishing marginal

utility.
7. Explain consumer

surplus.
8. Explain indifference

curves/maps
9. Explain marginal rate

of substitution (MRS).

1. Explain the law of demand.
2. Draw demand schedule
3. Draw demand curve.
4. State the types of

demand.

1. Explain

exceptional/abnormal

demand.

1. Discuss factors affecting

demand

1. Explain changes in

quantity demanded.

1. Discuss change in price.

9. Changes in quantity demanded.

10. Factors which bring about change in quantity demanded and change in demand.

1. Explain the law of supply.
2. State supply schedule and curve.
3. Explain types of supply.
4. Discuss

exceptional/abnormal

supply.

1. State factors that affect

supply.

5. Different types of supply (e.g. joint, competitive composite, and derived supply etc.)

6. Exceptional/abnormal supply curve.

7. Exceptional/abnormal supply curve.

8. Factors which affects supply.

9. Changes in quantity supply.

1. Explain the concept of equilibrium.
2. Discuss determinants of rquilibrium price and equilibrium quantity.

1. Concept of equilibrium price and equilibrium quantity.
2. Determination of equilibrium price and equilibrium quantity.

1. Explain the concept of elasticity of demand and supply.
2. State types of elasticity of demand and supply.
3. Calculation of different type of elasticity of demand.
4. Explain factors affecting elasticity of demand.

1. Definition of elasticity of demand and supply.
2. Types of elasticity of demand and supply.
3. Calculation involving different types of elasticity of demand and supply.
4. Factors affecting elasticity of demand and supply.

1. Examine the price system.
2. Explain functions of the price system.
3. State the merits and demerits of price system.

system.

1. Discuss purpose of production.
2. Explain types/classes of production.
3. Examine factors of production.
4. State channels of production
5. Explain the systems of production.
6. Discuss the determinant of the volume of production.

1. The meaning of

production, its purposes, types, and the channel of production.

1. The factors of production.
2. The rewards of the factors of

production.

1. The

characteristics of factors of production.

1. The functions of

1. Explain the types of capital

and labour as factors of

production.

1. Explain the importance of

capital, the process of acquiring capital and the consequences of consuming capital.

1. Explain the systems of production.
2. Factors that determine the volume of production.

acquiring capital, and the consequences of consuming capital.

1. Explain division of labour.
2. Explain specialization of labour.
3. State the merits and demerits of division of labour.
4. Discuss the limitation of division of labour

1. Meaning of division of

labour.

1. Meaning of specialization of

labour.

1. The aims of division of

labour and specialization of

labour.

1. The merits and demerits of

division of labour.

1. The merits and demerits of

specialization of labour

1. The limitation of division of

labour.

1. Discuss the meaning of

division of labour.

1. Discuss the

meaning of specialization labour.

1. State the aims of division of labour
2. Discuss the merits and

demerits of specializatio of labour.

1. Discuss the limitation of

division of labour.

9.3 Explain production curve/frontier possibility and its uses.

1. Explain the meaning of production possibility curve/frontier.
2. Ilustrate production possibility curve graphically.
3. Explain the uses of production possibility curve.

possibility curve graphically.

1. Explain scale of production.
2. State the advantage and disadvantages of small scale of production.
3. Explain the advantages

1. The meaning of scale of production.
2. The determinants of the scale of production.
3. The advantage and the disadvantage of small scale of production.

1. Explain the concept of internal and external economics of scale.
2. Discuss the distinction between internal and external economics

1. The advantage and the disadvantage of large-scale of production.
2. The concept of internal and external economics of scale.
3. Distinction between the internal and external economics.
4. The process of acquiring capital
5. Division of labour/specialization. Advantages/disadvantages, limitations, production, possibility frontier curve.

1. Identify the distribution chain
2. Explain role of each channel of distribution.
3. Discuss argument for and against the

middlemen.

1. State the problems of

distribution in Nigeria.

1. Explain the role of

Government agencies in distribution of goods in Nigeria.

1. Definition of distribution of goods.
2. List the channels of distribution of goods.
3. The role of each channel of distribution (The wholesaler and Retailer)
4. Argument for and against the middlemen.
5. The problems and solution of distribution of goods in Nigeria.
6. The role of Government agencies in the channel of distribution.

1. Explain the law of variable proportions/ diminishing returns
2. Discuss the application of the law of

diminishing returns to

land.

1. Examine the relevance

of the law of variable proportions/diminishing returns.

1. Explain the application of law of variable

1. Law of variable proportions/diminishing returns.
2. the application of the law of diminishing returns to land.
3. the relevance of the law of variable

proportions/diminishing

returns.

1. application of the law of

variable proportion.

1. law of returns to scale.

1. Describe the various forms of cost.
2. Explain types of cost and its application.

1. Meaning of cost from the view point of

a. Economist

b. Accountant

1. types of cost.
2. Application of the various types of cost.
3. Graphical presentation of the various types of cost.
4. The long-run and short-run application of cost concepts.

Analyse the concept of revenue.

1. Explain the concept of market.
2. State types of market.

Explain perfect competition.

1. Explain features of

perfect market.

1. Discuss the merits and

demerits of perfect

market.

1. Proffer solutions to the

demerits.

1. Graphically illustrate

perfect competition.

1. Explain price and output determination under

perfect competition.

1. Discuss cost curves,

supply curves and demand curves under perfect competition.

1. Features of perfect competition.
2. Merits and demerits of perfect competition.
3. Solutions to the demerits of perfect competition.
4. Graphical illustration of perfect competition.
5. Price and output determination under perfect competition.
6. Cost curves, supply curves and demand curves under perfect competition.
7. Short-run and long-run position of a perfect competitor.

1. Explain Monopoly
2. State types of monopoly. 3. Explain

of a monopoly.

1. Discuss price

determination under a

monopoly.

1. State the merits and

demerits of a monopoly.

1. Explain price and

quantity determination

under a monopoly.

1. Discuss forms of control

of a monopoly.

1. Compare and contrast

monopoly and perfect

competition.

1. Discuss cost, supply and

demand curves under a monopoly.

1. Price and quantity determination under a monopoly.
2. Merits and demerits of a monopoly.
3. Solutions to the demerits of a monopoly.
4. Price and quantity determination under a monopoly.
5. Graphical illustration of price determination under a monopoly.
6. Forms of control of a monopoly.
7. Compare and contrast monopoly and perfect competition.
8. Cost, supply and demand curves under a monopoly.

1. Define imperfect competition.
2. Examine the features/characteristics of imperfect competition.
3. Explain the various types of imperfect competition.
4. Analyse the features of each types of imperfect market.
5. Explain the merits and demerits of each type of market.
6. Explain output and price determination under imperfect competition.
7. Examine the solution to the demerits of each type of imperfect market.

1. The meaning of imperfect competition.
2. Features/characteristics of imperfect competition.
3. Types of imperfect competition e.g. duopoly, oligopoly, monopolistic competition.
4. Features of each type of imperfect market.
5. Merits and demerits of each type of imperfect market.
6. Output and price determination under imperfect competition.
7. Solutions to the demerits of each type of imperfect market.
8. Compare imperfect competition with perfect competition.

1. Illustrate each type of

imperfect competition.

1. Graphically derive the

following curves under imperfect competition a. cost curves
b. supply curves

1. Explain the concept in population studies, and population terms.
2. State the purpose of population census.
3. Explain the problem of population census in Nigeria.
4. Discuss the factors affecting population growth.
5. Explain the population structure in Nigeria.
6. Explain geographical distribution of

population in Nigeria.

1. State the population

theories.

1. State the effect of

increasing population.

1. Explain the consequence

of ageing population.

1. Explain the concept in population studies and population terms.
2. state the purpose of population census.
3. Explain the problem of population census in Nigeria
4. Discuss the factors affecting population growth.
5. Explain the population structure in Nigeria.
6. Explain geographical distribution of population in Nigeria
7. state the population theories.
8. state the effect of increasing

population.

1. Explain the consequences of

ageing population.

1. Explain the concept of labour market.
2. State the factors that determines labour force.
3. Explain the factors that influence the efficiency of labour.
4. Discuss the demand for and supply of labour
5. State the reasons for the differences in salaries and wages.
6. Explain mobility of labour.

1. Definition of labour market, working population, labour force, employment and unemployment.
2. The factors that determine the labour force of a country.
3. Factors that influence the efficiency of labour.
4. Demand for and supply of labour.
5. The determinants of labour demand and supply.
6. Wage determination: the reasons for the differences

1. Class discussion on factors which influence the
   (i) efficiency of labour, and

(ii) demand and

supply of labour.

1. Discussion of the

reasons for the differences in salaries and wages.

1. State types of mobility of labour.
2. Explain the factors that influences mobility of labour.
3. Discuss types of unemployment.
4. Examine the causes and consequences of unemployment.
5. Discuss the solutions to each type of

unemployment.

1. Mobility of labour.
2. Types of mobility of labour.
3. Factors, which influence the

mobility of labour.

1. Types of unemployment.
2. Causes and consequences of

each type of unemployment.

1. Solutions to each types of

unemployment.

Labour unions and Employers Association

1. Meaning of trade/labour union and Employers Association
2. Aims of labour union and employers Association.
3. Weapons of trade union and employers association.
4. Roles of trade union.
5. Problems of trade union in

Nigeria.

1. Explain the concept of business organization.
2. State the types of business organization.
3. Explain the aims/purpose of business organization.
4. Discuss the types of business organization.
5. Explain stocks and shares.
6. Discuss advantages and disadvantages of each type of shares.
7. Explain Debentures.
8. Discuss advantages and

disadvantages of debentures.

1. Meaning of business organization.
2. Types of business organization.
3. Aims/purpose of business organization: Sources of finance.
4. Sole proprietorship characteristics, merit and demerit.
5. Partnership types, characteristics, methods of its establishment, its merits.
6. Limited liability company types, characteristics, methods of establishment, is merits and demerits.
7. Stocks and shares definition of stocks and shares, types of shares, advantages and disadvantages of different types of shares.

disadvantages of debentures.

1. Explain co-operative societies
2. Explain the basis/purpose of cooperative societies.
3. Explain the types of co- operative societies
4. State the problems of co-operative societies and its merits and demerits.

1. Definition of co-operative societies
2. Basis/purpose of cooperative societies.
3. Types of co-operative

societies.

1. Characteristics/feature of each

type of Co-operative

Societies

1. Merits and demerits of co-

operative societies

1. Problems of each type of co-

operative societies.

1. Solution to the problems of

co-operative societies.

1. Explain public corporation.
2. State reasons for the existence of public corporation
3. Explain advantages/disadvantages
4. Discuss the need for commercialization/priva tization of public corporation.

1. Meaning of public corporation.
2. Nature of public corporation.
3. Reasons for the existence of public corporation.
4. Advantage/disadvan-tages of public corporation.
5. The need for commercialization and privatization of public corporations/ enterprises.

1. Explain the concept of economic growth.
2. Describe the characteristics of economic growth
3. Explain the factors affecting economic growth.
4. Explain the benefits of economic growth.

1. The concept of economic growth.
2. The characteristics of economic growth.
3. Factors affecting economic growth.
4. Benefits of economic growth.

1. Define Economic

1. Explain the process of

economic development.

1. Differentiate between

economic development

and growth.

1. Explain the meaning of

under-development.

1. Explain the

characteristics of economics under development

1. List the factors that influence economic development of a nation.

1. The process of economic development.
2. Distinguish economic development from growth.
3. Under development.
4. Characteristics of economic

under development.

1. Factors that influence

economic development of a nation.

1. Define money and trade by barter.
2. Explain the types of money, its

characteristics and functions. Also the value, demand, supply and the quantity theory of money.

1. Explain the relationship between the value of money and price.

1. Definition of money and trade by barter.
2. The operation of trade by barter.
3. The problems of trade by barter.
4. Historical development of money.
5. The characteristics of money.
6. Functions of money
7. Value of money
8. The quantity theory of

money.

1. The demand for money.
2. The supply of money
3. The relationship between

the value of money and price.

1. Define inflation and explain the types of inflation.
2. Examine the causes of each type of inflation.
3. Identify the measures used to control inflation.
4. Explain the effects of inflation.

1. Explain deflation and its

1. Identify the effects of

deflation.

1. Examine the control of

deflation

1. The effects of deflation.
2. The control of deflation.

1. Define banking
2. State the types of banks

(commercial bank, merchant bank, central bank, mortgage bank, development bank).

3. Trace the origin of banking.

4. Explain the meaning and characteristics of commercial banks.

5. Examine the role/functions of commercial banks.

6. Identify the types of Accounts kept by the commercial banks.

7. Explain the creation of credit by commercial banks.

commercial banks.
9. The impact of banking on

Nigerian economy.

1. Explain the limitations to the creation of credit by commercial banks.
2. Explain the impact of banking in the Nigerian economy.

1. Define Central Bank 2. Trace the historical

development of Central

Bank in West Africa.
3. Explain the functions of

Central Bank.
4. Explain how the Central

Bank controls commercial banks

1. The meaning of Central Bank.
2. Historical development of Central Bank in West Africa
3. The functions of Central Bank.
4. How Central Bank controls commercial banks.

1. List other financial institutions besides the commercial and Central Banks e.g. Insurance companies, merchant banks, development banks, stock exchange etc).
2. Explain the characteristics of each of the financial institutions.
3. Examine the functions of each institution.

1. The characteristics of these financial institutions.
2. The functions of these financial institutions. Composition and role of the capital market in Nigeria.

1. Define Agriculture.
2. State the various types

of Agricultural practices in Nigeria (e.g. crop) production, livestock, fisheries etc.)

3. Explain the importance of Agriculture.

4. Identify the problem of Agriculture in Nigeria.

5. Analyse briefly the system of Agriculture in Nigeria e.g. (peasant communal, plantation, cooperative etc.

6. Describe the method of Agriculture in Nigeria.

7. Marketing of Agricultural produces.

8. Prospect of Agriculture in Nigeria.

practices in Nigeria. (crop production, livestock, fisheries).

3. Importance of Agriculture. 4. The problems of Agriculture

in Nigeria.
5. System of Agriculture in

Nigeria. (Peasant,

communal, plantation, etc.). 6. Methods of Agriculture in

Nigeria (Shifting cultivation, crop rotation, pastoral normadism etc.

7. Marketing of Agricultural products in Nigeria.

8. Prospect of Agriculture in Nigeria.

1. Explain the meaning of firm, industry and industrialization.
2. Identify the types of industries in Nigeria.
3. Explain the factors influencing the location of industries.
4. Explain the meaning of

1. The meaning of firm, industry and

industrialization.

1. Types of industries in

Nigeria.

1. Factors influencing the

location of industries.

1. The meaning of localization

of industries

1. Factors influencing

industries.

1. Explain the factors

influencing localization

of industries in Nigeria.

1. Examine the advantages

and disadvantages of

localization.

1. Explain the importance

of industrialization in the development process.

1. Analyse the different strategies for

industrialization.

1. Identify factors influencing the performance of

industries.

1. Analyse the problem of

industrialization in

Nigeria.

1. Proffer solution to the

problems of industrialization in Nigeria.

Nigeria.

1. Advantages and

disadvantages of

localization.

1. The importance of

industrialization in the

development process.

1. Different strategies for

industrialization e.g. export promotion, import substitution.

1. Factors influencing the performance of industries.
2. The problems of industrialization in Nigeria.
3. Solution to the problems of industrialization in Nigeria.

1. Explain the following terms:

(a) National Income (NI) (b) Gross National Product (GNP).
© Gross Domestic Product (GDP).

(d) Net National Income

(NNI).

1. Examine the methods of

computing the terms in 1

above.

1. Explain the methods of

computing the national income.
a. income method
b. output approach, and (c) expenditure approach

4. Examine the uses of

1. The meaning of the following terms:

i. National Income (NI)

1. 1. Gross National Product (GNP)
   2. Gross Domestic Product (GNP)

iv. Net National Income (NNI)

1. The relationship between those terms in 1 above..
2. Methods of computing the National Income and their problems
   (a) Income method

(b) Output approach

(c) Expenditure method

1. Uses of National Income.
2. Factors affecting the

1. State the factors

affecting the national

income of a country.

1. Explain the problems

associated with the computation of national income.

1. Explain the following concept.

(a) income
(b) savings
(c) investment (d) consumption

1. Analyse the relationship among 7 above.
2. Explain the following concepts.

(a) average propensity to consume (APC)

(b) Average propensity to save (APS).

(c) Marginal propensity to consume (MPC).

1. Explain the concept of multiplier.
2. Perform calculation involving the multiplier.
3. Explain with illustrations the equilibrium level of national income

country.

1. Describe the following

concepts: Income, savings,

investment, consumption.

1. The relationship among the

concepts in 1 above.

1. The meaning of the

following concepts:
(i) Average Propensity to Consume (APC)

(ii) Average
Propensity to Save (APS).
(iii) Marginal Propensity

to Consume (MPC).

1. The concept of multiplier .
2. The equilibrium level of

national income.

1. Define public finance and fiscal policy.
2. Explain the objectives of public finance.
3. Explain the sources of government revenue.
4. Explain the structure of government expenditure.
5. Define taxation.
6. Identify the different

types of taxes with

examples.

1. Examine the advantages

1. The meaning of public finance and fiscal policy.
2. Objectives of public finance.
3. Sources of government revenue (taxation, custom duties, royalties, etc)
4. The structure of government expenditure.
5. Taxation.
6. Types of taxes (i.e. direct

and indirect taxes).

1. Advantages of each type of

tax.

each types of taxes.

1. Explain the system of

taxation.

1. State the advantages and

disadvantages of each

tax system.

1. Examine incidence of

taxation.

1. Analyse the problem of

tax collection in Nigeria.

1. Proffer solution to the

problems of tax collection in Nigeria.

1. The system of taxation (progressive, proportional, regressive).
2. Advantages and disadvantages of each type of tax system.
3. Incidence of taxation.
4. Problems of collecting tax

in Nigeria and solutions.

1. Solutions to the problems of tax collection in Nigeria.
2. Principles of taxation.

1. Define Budget
2. Explain the reasons for a

budget.
3. State the types of budget. 4. Examine revenue

allocation formula in Nigeria.

1. Define National Debt. 2. Explain the types of

national debt. (internal

and external).
3. Define debt servicing. 4. Examine the effects of

national debt on a country.

1. The meaning of national debt.
2. Types of national debt (Internal and External).
3. Debt servicing.
4. The effects of national debt

on the country.

1. Define international trade.
2. Explain the basis for international trade.
3. Explain the barriers to international trade.
4. Explain the principles of international trade.
5. Analyse the merit and demerit of international trade.
6. Examine the benefits of international trade.
7. Compare internal trade

1. The meaning of international trade.
2. Internal and international trade.
3. Basis for international trade.
4. Barriers of international

trade: Tariffs: Reasons and problems (i.e. differences in currencies, natural/artificial barriers etc.)

1. Principles of international trade.
2. Merits and demerits of international trade.
3. Types of imports and

1. Define terms of trade, balance of trade and balance of payment
2. Explain the components of balance of payment (current account, capital account, and monetary movement).
3. Analyse balance of payment disequilibrium (deficit and surplus).
4. Examine the problems of balance of payment disequilibrium.

1. Terms of trade, balance of trade and balance of payment.
2. The components of balance of p[ayment.
3. Current account, capital account etc.
4. Problems of balance of payment disequilibrium.
5. The measures of correcting balance of payment disequilibrium.

1. Explain the meaning of devaluation of currency.
2. Discuss the effects of devaluation.
3. Describe the condition favouring devaluation.

1. The meaning of devaluation of currency.
2. Effects of devaluation of currency.
3. Conditions favouring devaluation of currency.
4. Reasons for ineffectiveness of devaluation of currency in Nigeria.

1. Explain economic integration.
2. Examine the types of economic integration.
3. Explain the origin of ECOWAS.
4. Examine the benefits of ECOWAS.
5. explain the problems of ECOWAS membership
6. Suggest solutions to the

problems of ECOWAS.

1. The meaning of economic integration e.g.

i. free trade area ii. customs, union iii. common market iv. Economic union

1. Types of economic integration e.g. customs, union,
2. Origin of the ECOWAS
3. Benefits of ECOWAS

membership

1. Problems of ECOWAS

membership.

1. Possible solutions to the

problems of ECOWAS membership.

1. Define economic plans

1. Outline the process of economic planning.
2. Advance reasons for economic planning.
3. Explain the following types of economic planning.
   (a) aggregate economic

planning
(b) disaggregate

economic planning.

1. Analyse the Nigerian

economic plan from pre- independence period to 1985, including the following:-

(a) pre-independence economic plans.

1. 1. (b)  Post-independence economic plans.
   2. (c)  First National Development Plan 1962 1968.
   3. (d)  Second National Development Plan 1969 1974.
   4. (e)  Third National Development Plan 1974 1980.
   5. (f)  Fourth National Development Plan 1981 1985.

Examine Nigeria’s development plans since 1985.

1. Reasons for economic

planning.

1. Types of economic

planning.

1. Nigerian economic plans

from pre-independence period to 1985 including first, second, third and fourth National Development plans.

1. Nigeria’s development plans since 1985.
2. The problem of economic planning in Nigeria.

1. Examine the development of the petroleum industry in Nigeria.
2. Analyse the impact of petroleum in Nigeria economic.
3. Examine the role of NNPC and OPEC in the Nigerian economy.

1. The development of the petroleum industry in Nigeria.
2. The impact of petroleum on the Nigerian economy.
3. The role of NNPC and OPEC in the Nigerian

economy.

1. Marketing of petroleum

products in Nigeria.

1. Other major natural

1. Analyse the marketing of petroleum products in Nigeria.
2. Explain other major Natural Resources.

1. List the various international economic organizations.
2. Explain the origin and functions in 1 above.
3. Enumerate the benefits of the organizations listed in 1 above to Nigeria.
4. Analyse the problems associated with the operation of the organization listed in 1 above.
5. Assess the future prospects of

organisations in 1 above.

1. State the various international economic organizations i.e. IMF, IBRD, UN, ECA, ADB, WTO, NEPAD
2. The origin and functions of the organizations in 1 above.
3. the benfits of the organizations listed in 1 above to Nigeria.
4. The problems associated with the operations of the organizations listed in 1 above.
5. Estimate the future prospects of the organizations in 1 above.