WAEC Syllabus for Economics 2026/2027 – This article WAEC Economics Syllabus 2026/2027 & Recommended Textbooks is one of the most important materials needed by Candidates preparing for 2026/2027 WAEC Exams is WAEC Economic Syllabus.
This is why many candidates are searching for comprehensive academic guide that outlines the key concepts, theories, and practical issues students must understand to succeed in the WASSCE Economics examination.
The WAEC Economics syllabus introduces learners to fundamental economic principles such as scarcity, choice, and opportunity cost, while also exploring production, market systems, national income, and international trade.
WAEC Syllabus Economics 2026/2027 & Recommended Textbooks.
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Aims and Objectives of the WAEC Economics
The main objective of the Economics syllabus is to provide students with a solid understanding of economic principles, concepts, and analytical tools. It equips learners with the ability to explain how economic systems function, analyze economic problems in West Africa, and understand the roles of agriculture, industry, mining, and trade in national development.
The 2026 WAEC Economics syllabus also prepares students to make informed economic decisions and appreciate the challenges facing developing economies in a globalized world.
WAEC recommended Economics syllabus
Scheme of Examination | WAEC Area of concentration for Economics
The WAEC Economics examination consists of two papers taken in one sitting:
Paper 1 (Objective)
50 multiple-choice questions
Duration: 1 hour
Total marks: 50
Paper 2 (Essay)
8 theory questions divided into two sections
Duration: 2 hours
Total marks: 80
Section A: Two data-response questions (answer one)
Section B: Answer any three questions
WAEC Syllabus for Economics 2026/2027
Definition and Scope of Economics
Economics as a social science
Scarcity, choice, and opportunity cost
Scale of preference
Production possibility curve
Economic activities: production, distribution, and consumption
Factors of Production
Land, labour, capital, and entrepreneurship
Characteristics and importance of each factor
Types of Economic Systems
Capitalist, socialist, and mixed economies
Features, advantages, and disadvantages
Economic problems and solutions under each system
Basic Tools of Economic Analysis
Tables, graphs, and charts
Measures of central tendency (mean, median, mode)
Demand
Law of demand and demand curves
Types of demand
Determinants and elasticity of demand
Supply
Law of supply
Supply schedules and curves
Determinants and elasticity of supply
Theory of Consumer Behaviour
Total, average, and marginal utility
Law of diminishing marginal utility
Consumer equilibrium
Theory of Price Determination
Interaction of demand and supply
Equilibrium price and quantity
Price control measures and market regulation
Theory of Production, Cost, and Revenue
Division of labour and specialization
Economies of scale
Cost concepts and revenue analysis
Market Structure
Perfect competition
Monopoly
Monopolistic competition
Price discrimination
Business Organizations
Sole proprietorship
Partnership
Joint-stock companies
Co-operatives and public enterprises
Distribution, Population, and Labour Market
Distribution channels
Population size and structure
Labour force, unemployment, and wage determination
Agriculture and Industrialization
Types of farming systems
Importance of agriculture
Industrial growth, location, and challenges
National Income and Money
GDP, GNP, and national income
Measurement and limitations
Money, inflation, and price stability
Financial Institutions and Public Finance
Central and commercial banks
Insurance and capital markets
Taxation, public expenditure, and national debt
Economic Development and Planning
Growth versus development
Planning objectives and challenges
Types of development plans
International Trade and Economic Integration
Comparative advantage
Balance of payments
Trade policies and ECOWAS
International Economic Organizations
IMF, World Bank, AfDB, OPEC, UNCTAD
Roles in West African economic development
Major Natural Resources
Petroleum, gold, timber, and agricultural resources
Economic benefits and challenges of resource development
WAEC Textbooks for Economics 2026/2027
Recommended textbooks include:
Aderinto, A.A. et al – Economics: Exam Focus
Lipsey, R.G. – An Introduction to Positive Economics
Samuelson & Nordhaus – Economics
Udu, E. & Agu, G.A. – New System Economics
Lawal, O.A. – Success in Economics
These books align closely with the WAEC syllabus and provide practical examples and examination-focused explanations.
Frequently Asked Questions (FAQs)
Q1: What is the WAEC Economics syllabus 2026/2027?
The WAEC Economics syllabus for 2026/2027 outlines the topics students must study for the WASSCE examination, including demand and supply, production, market structures, national income, money, public finance, and international trade.
Q2: How many papers are written in WAEC Economics?
WAEC Economics consists of two papers: Paper 1 (50 objective questions) and Paper 2 (essay and data-response questions), taken in one sitting.
Q3: Is the WAEC Economics syllabus the same every year?
The syllabus remains largely consistent, but minor updates may occur. Students are advised to study the officially released 2026/2027 syllabus to stay current.
Q4: Which textbooks are recommended for WAEC Economics?
Recommended textbooks include Economics: Exam Focus by Aderinto et al., New System Economics by Udu & Agu, and Economics by Samuelson and Nordhaus.
Q5: How can I score high in WAEC Economics?
Students should study the syllabus thoroughly, use recommended textbooks, practice past questions, and understand key economic concepts rather than memorizing definitions. Always visit the official website https://www.waec.org/ for updated information.
