Economics — 30-Week Plan
Weekly outline built from the WAEC syllabus (last 5–10 years emphasis). Practice can be done offline; Mock is timed online (2 attempts).
Total practice: 420 • Total mock: 630
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Week 1–4 (October: Foundations & Tools)
- Week 1: Definition & scope of Economics — scarcity, choice, scale of preference, opportunity cost, PPC; economic activities (production, distribution, consumption).
- Week 2: Factors of production — land, labour, capital, entrepreneurship; characteristics, importance.
- Week 3: Economic systems — capitalism, socialism, mixed economy; features, merits/demerits, how each solves economic problems.
- Week 4: Tools of economic analysis — tables, graphs, charts, arithmetic mean, median, mode; simple applications.
Week 5–8 (November: Demand, Supply & Consumer Behaviour)
- Week 5: Demand — law, schedule, curve; types (derived, composite, joint, competitive); determinants of demand; shifts vs movement along curve.
- Week 6: Elasticity of demand — price, income, cross elasticities; measurement & importance to consumers, producers, government.
- Week 7: Supply — law, schedule, curve; determinants (input prices, tech, climate); types (composite, complementary, competitive).
- Week 8: Elasticity of supply — meaning, measurement, importance; consumer behaviour — utility concepts, law of diminishing marginal utility, consumer equilibrium.
Week 9–12 (December: Markets, Production, Cost & Revenue)
- Week 9: Price determination — demand–supply interaction, equilibrium price/quantity, effects of shifts, algebraic derivation; price controls (max/min, rationing, black market).
- Week 10: Theory of production — division of labour, specialization, productivity, scale of production, internal/external economies, law of variable proportions.
- Week 11: Theory of cost — total, average, marginal, variable, fixed; short-run vs long-run; economist vs accountant’s cost (opportunity vs money cost).
- Week 12: Theory of revenue — total, average, marginal revenue; marginal revenue product; linkage of cost & revenue; mini mock on micro topics.
Week 13–16 (January: Firms, Trade & Labour)
- Week 13: Market structures — perfect competition, monopoly, monopolistic competition; features, price/output determination, price discrimination.
- Week 14: Business organizations — sole proprietorship, partnership, joint-stock (private/public), cooperatives, public corporations, joint ventures; problems; privatization, commercialization, indigenization, nationalization.
- Week 15: Distributive trade — role of producers, wholesalers, retailers, co-operatives, government agencies; problems & solutions.
- Week 16: Population — size, growth, distribution, census issues; theories (Malthusian); population & development (under/over/optimum).
Week 17–20 (February: Labour, Agriculture & Industry)
- Week 17: Labour market — labour force, efficiency/mobility; wage determination; unemployment & underemployment; trade unions, employers’ associations, govt policies.
- Week 18: Agriculture — structure (food/export crops, livestock, fisheries); systems (peasant, commercial, co-op, state); importance, marketing, policies (boards, min. prices), problems/solutions.
- Week 19: Industrialization — meaning/types, concepts (plant, firm, industry); location factors, linkages with agriculture, role in development; strategies & problems.
- Week 20: National income — GDP, GNP, NNP, NI; methods of measurement; uses, limitations, trends; data questions practice.
Week 21–24 (March: Money, Finance & Public Sector)
- Week 21: Money — history (barter to money), types, characteristics, functions; supply/demand for money; value & price level.
- Week 22: Inflation — types, causes, effects, control; case studies from Nigeria & West Africa.
- Week 23: Financial institutions — traditional, CBN, commercial, development, merchant banks, insurance, building societies; money & capital markets.
- Week 24: Public finance — sources of revenue; taxation (types, objectives, merits/demerits, incidence); expenditure (recurrent/capital); budgeting, national debt; WAEC-style mock.
Week 25–27 (April: Development, Trade & International Economics)
- Week 25: Economic development & planning — growth vs development; characteristics/problems of developing countries; objectives/types of plans (short/medium/long/rolling).
- Week 26: International trade — domestic vs international; absolute/comparative advantage; terms of trade; commercial policy (tariffs/controls); structure of West African trade.
- Week 27: Balance of payments — meaning, components, disequilibrium, adjustments (exchange rate, monetary/fiscal policies), financing; mock data-response.
Week 28–30 (April: Integration, Resources & Grand Final Mocks)
- Week 28: Economic integration — objectives, levels, problems; ECOWAS case study.
- Week 29: International economic organizations — OPEC, IMF, AfDB, IBRD, UNCTAD, ECA; roles in West African development; Major natural resources (oil, cocoa, timber, minerals) & their economic impacts.
- Week 30: Grand Final Mock (closest WAEC replica) — Paper 1 MCQs + Paper 2 essays (Section A data + Section B choice).