WAEC Syllabus For Economics 2026/2027 PDF Download

The West African Examinations Council (WAEC) has officially released the WAEC Syllabus for Economics, which serves as a complete guide for students writing the Economics exam in WASSCE 2026/2027.

The syllabus is available in text and document form for you here on this page, and all you need to do is proceed to read down below to see everything and get started with your exam preparation for the 2026/2027 WASSCE.

What is the Importance of Using the WAEC Syllabus for Economics?

1. It shows students exactly what to read for WAEC Economics.
2. It helps candidates understand the full scope of the examination.
3. It prevents reading irrelevant or unnecessary topics.
4. It makes planning and time management easier.
5. It aligns students’ preparation with WAEC exam questions.
6. It improves understanding of key Economics concepts.
7. It guides effective use of recommended textbooks.
8. It helps identify important and frequently tested topics.
9. It reduces fear and anxiety before the examination.
10. It allows students to track their study progress.
11. It improves overall performance in the WAEC Economics exam.

WAEC Economics Exam Structure

The Economics exam consists of two compulsory papers written in one sitting, and together they make up 100 marks.

Paper 1 – Objective (Multiple Choice)

• Number of Questions: 50 objective questions
• Duration: 1 hour
• Total Marks: 40
• What It Tests: This paper assesses students’ overall understanding of economic concepts, definitions, theories, and simple applications across the entire syllabus.

Paper 2 – Essay / Theory

• Duration: 2 hours
• Total Marks: 60
• Sections:
  • Section A: Short answer and structured questions
  • Section B: Essay questions based on major topics from the syllabus
• What It Tests: This paper examines students’ ability to explain, analyze, discuss, and apply economics concepts in deeper detail using written answers.

Summary of Marks and Time

Component	Questions	Duration	Marks
Paper 1	Objective	1 hour	40
Paper 2	Theory/Essay	2 hours	60
Total	—	—	100

WAEC Syllabus for Economics 2026/2027

S/N	Topic	Key Areas	Objectives
1	Introduction to Economics	Meaning and scope of economics Basic concepts: scarcity, choice, opportunity cost Methods of economic analysis Economic problems of society	To introduce students to basic economic ideas and help them understand how societies make choices with limited resources.
2	Types and Tools of Economic Analysis	Positive and normative economics Tables, charts, graphs, and statistics	To enable students to analyze economic issues using simple analytical tools.
3	Demand, Supply, and Elasticity	Laws of demand and supply Determinants Price, income, and cross elasticity	To help students understand price determination and consumer and producer behavior.
4	Production	Factors and types of production Production function Law of variable proportions Returns to scale Division of labour	To explain how goods and services are produced and how efficiency can be improved.
5	Market Structures	Perfect competition Monopoly Monopolistic competition Oligopoly	To enable students to compare different market systems and pricing methods.
6	Business Organizations	Sole proprietorship Partnership Joint stock companies Public enterprises Stock exchange	To familiarize students with different forms of business ownership and organization.
7	National Income	GDP, GNP, NNP, per capita income Measurement methods Uses and problems	To help students understand how a country’s income and standard of living are measured.
8	Money and Financial Institutions	Types and functions of money Demand and supply of money Commercial and central banks	To explain the role of money and financial institutions in the economy.
9	Public Finance	Government revenue and expenditure Taxation Budget and public debt	To help students understand how governments raise and spend money.
10	Economic Growth and Development	Concepts and indicators Problems and strategies in West Africa	To explain how economies grow and develop and the challenges faced by developing countries.
11	Agriculture	Importance of agriculture Problems and policies Subsistence and commercial farming	To highlight the role of agriculture in economic development.
12	Industry and Industrialization	Types of industries Industrial policies Small scale industries	To help students understand the role of industry in economic growth.
13	International Trade	Import and export Terms of trade Balance of payments Exchange rate systems	To explain why countries trade and how international payments are managed.
14	Economic Integration	ECOWAS Aims, benefits, and challenges	To help students understand regional cooperation and integration.
15	Population	Population theories Size, growth, and distribution	To explain how population affects economic development.
16	Labour Market	Demand and supply of labour Wage determination Trade unions	To help students understand employment, wages, and industrial relations.
17	Inflation and Deflation	Types, causes, and effects Control measures	To explain price level changes and their effects on the economy.
18	Unemployment	Types, causes, and effects Solutions	To help students understand unemployment problems and possible remedies.
19	Economic Planning	Meaning and types Objectives and problems Planning in West Africa	To explain the importance of planning in economic development.
20	Natural Resources and Environment	Types and uses Conservation Environmental degradation	To encourage sustainable use and management of natural resources.

WAEC Recommended Textbooks for Economics 2026/2027

S/N	Title of Textbook	Author(s)	Publisher / Notes
1	Economics: Exam Focus	A.A. Aderinto et al	University Press Plc
2	Countdown to SSCE/JME Economics	Fajana, F. et al	Evans Brothers (Nigeria)
3	Round‑Up Economics for SSCE	A.B. Falodun et al	Longman (Lagos)
4	New System Economics: A Senior Secondary Course	Udu E & Agu G.A.	Africana FIRST Publishers Ltd
5	Economics Made Easy	D.O. Eyiyere	Quality Publishers Ltd
6	Comprehensive Economics for Senior Secondary	Johnson Ugoji Anyaele	Johnson Publishers Ltd
7	Essential Economics for Senior Secondary Schools	Cole Esan Ande	Tonad Publishers Ltd
8	Principles of Economics	Lipsey & Chrystal	Used for deeper conceptual understanding
9	Macroeconomics & Microeconomics	N. Gregory Mankiw	Good for theory, not WAEC specific
10	Modern Economics	O.C. Ogbuagu	Helpful West African focused text

Conclusion

The WAEC Economics syllabus is an important guide that shows students exactly what to study for the exam. By following the syllabus, using recommended textbooks, and practicing past questions, students can understand key topics like demand and supply, national income, money and banking, and international trade.

Studying with the syllabus helps you plan your time, focus on the most important areas, and build confidence for the exam. Remember, success in WAEC Economics comes from regular study, practice, and understanding the concepts, not just memorizing facts.

By preparing properly, every student can improve their performance and aim for excellent results in WAEC Economics.