WAEC Syllabus for Economics in 2025 (PDF)
The WAEC syllabus for Economics serves as a comprehensive guide for candidates preparing for the West African Senior School Certificate Examination (WASSCE). This syllabus outlines the essential topics and concepts students need to understand to excel in the Economics examination. It emphasizes economic principles, theories, and real-life applications, helping students grasp the fundamentals of the subject.
This post provides an overview of the syllabus, a downloadable PDF, and access to past questions and answers to aid your preparation.
WAEC Syllabus for Economics
The Economics syllabus is structured to cover various areas of economic theory and practical application. Below are the main topics included:
- Introduction to Economics
- Meaning and scope of Economics.
- Basic economic concepts such as scarcity, choice, and opportunity cost.
- Economic Systems
- Types of economic systems: capitalism, socialism, and mixed economies.
- Features, advantages, and disadvantages of each system.
- Demand and Supply
- Laws of demand and supply.
- Factors affecting demand and supply.
- Determination of equilibrium price and quantity.
- Production
- Concepts of production and factors of production.
- Division of labor and specialization.
- Scale of production and economies of scale.
- Market Structure
- Types of market structures: perfect competition, monopoly, monopolistic competition, and oligopoly.
- Characteristics and examples of each structure.
- National Income
- Definition and components of national income.
- Methods of measuring national income.
- Problems encountered in measuring national income.
- Money and Banking
- Definition and functions of money.
- The role of banks in economic development.
- Types of banks and their operations.
- Public Finance
- Government revenue and expenditure.
- Taxation: types and principles.
- Budgeting and fiscal policy.
For a detailed outline of all the topics, download the full syllabus using the link below.
WAEC Syllabus for Economics in 2025 (PDF) DOWNLOAD
To access the complete WAEC Economics syllabus for 2025, click the link below to download the PDF version:
Download the Complete WAEC Economics Syllabus PDF
This document provides an in-depth guide to the topics you need to study for the examination.
WAEC Economics Questions and Answers
Practicing past questions is a crucial step in preparing for the WAEC Economics exam. Here are some sample questions to get you started:
Sample Question 1:
- Question: What are the main factors that influence demand for a product?
- (Answer: Factors include price of the product, income levels, tastes and preferences, prices of substitutes and complements, and consumer expectations.)
Sample Question 2:
- Question: Explain the difference between direct and indirect taxes.
- (Answer: Direct taxes are levied directly on income or wealth, such as personal income tax, while indirect taxes are imposed on goods and services, such as value-added tax.)
For a more extensive collection of past questions and answers, download the resource below:
Download WAEC Economics Past Questions and Answers
Conclusion
The WAEC syllabus for Economics in 2025 provides a roadmap for students aiming to excel in the subject. By studying the outlined topics, practicing past questions, and utilizing available resources, candidates can enhance their understanding and improve their performance.
Ensure you download the full syllabus and past questions to adequately prepare for the exam. Wishing you the best in your studies and success in the examination!