WAEC Syllabus for Economics 2023: A Comprehensive Guide for Students
by A Maria
Updated Jun 02, 2023
West African Examinations Council Overview
The West African Examinations Council (WAEC) is a legally established examination board responsible for conducting examinations of public interest in English-speaking West African countries. Since its establishment in 1952, WAEC has played a significant role in the educational landscape of Anglophone West Africa, which includes Ghana, Nigeria, Sierra Leone, Liberia, and the Gambia.
The council's primary objectives are to organize and administer examinations and award certificates that are internationally recognized and comparable to those issued by equivalent examining authorities worldwide. WAEC has become one of the largest and most renowned examination bodies in West Africa, making a substantial contribution to education in the region.
Under the leadership of Dr. Adeyegbe, the former Head of the National Office (HNO) of WAEC Nigeria in 2004, the council has built a competent and motivated team of staff who have conducted valid and relevant examinations aligned with the educational aspirations of member countries. Each year, WAEC coordinates examinations for over three million candidates, reflecting the widespread recognition and participation in its examination programs.
Furthermore, WAEC extends its assistance to other examination bodies, both local and international, in coordinating their own examinations, showcasing the council's commitment to promoting excellence in education beyond its immediate jurisdiction. The West African Examinations Council has firmly established itself as a trusted and respected authority in the field of examinations, facilitating educational advancement and providing opportunities for countless individuals in West Africa. Its commitment to excellence, continuous improvement, and collaboration with other examination bodies solidify its position as a key player in the region's educational landscape.
WAEC Syllabus For Economics 2023
Definition and Scope of Economics
Factors of Production
Types and Basic Features of Economic Systems
Basic Tools of Economic Analysis
Theory of Consumer Behaviour
Theory of Price Determination
Theory of Production
Theory of Cost and Revenue
- Types and basic features of business enterprises – Sole Proprietorship; Partnership, Joint- Stock companies (Private and Public), Co-operatives; Statutory Corporation, Joint ventures.
- Sources of funds.
- General and basic problems of business enterprises.
- Privatization and Commercialization as solutions to problems of public enterprises. Indigenization and nationalization policies.
Population and Labour Market
Population – determination and implication of size and growth of population, Rural-urban migration, Malthusian theory of population Geographical, age, sex and occupational distribution.
Concept of the labour force and human capital, efficiency and mobility of labour, factors affecting the size of the labour force, particularly the population characteristics (age, sex, occupation, education, etc.)
Money and Inflation
Economic Development and Planning
International Trade and Balance of Payments
International Economic Organization
Development and role of:
Major Natural Resources
History of West African Examinations Council
In 1948, the University of Cambridge Local Examinations Syndicate, the University of London School Examinations Matriculation Council, and the West African Departments of Education convened to discuss the state of education in West Africa. The primary objective of the meeting was to deliberate on the future educational policies in the region.
During this gathering, Dr. George Barker Jeffery, the Director of the University of London Institute of Education, was appointed to visit several West African countries and assess the overall educational landscape and requirements. Dr. Jeffery embarked on a three-month journey from December 1949 to March 1950, visiting Ghana, the Gambia, Sierra Leone, and Nigeria.
Upon concluding his visit, he presented a comprehensive report, now known as the Jeffery report. This report strongly advocated for the establishment of a West African Examination Council and provided detailed recommendations regarding the council's composition and responsibilities. Subsequently, the representatives of the aforementioned groups engaged in discussions with the governments of these countries, and they reached a consensus to establish the West African Examination Council, fully embracing Dr. Jeffery's recommendations.
About West African Examinations Council Overview
Examinations and academic assessments
Examinations and academic assessments
WAEC Syllabus For Economics 2023 - FAQs
The West African Examinations Council (WAEC) is an examination board established by law to conduct examinations of public interest in English-speaking West African countries. It was founded in 1952 and has since played a vital role in the educational landscape of Anglophone West Africa, including Ghana, Nigeria, Sierra Leone, Liberia, and the Gambia. The council's main responsibilities are organizing and administering examinations and awarding internationally recognized certificates.
WAEC aims to ensure that the examinations it conducts are on par with international standards and comparable to those issued by equivalent examining authorities worldwide. The council strives to provide valid and relevant examinations that align with the educational aspirations of member countries. It seeks to contribute significantly to education in West Africa by promoting excellence and fostering educational development in the region.
WAEC has become one of the largest and most renowned examination bodies in West Africa. Under the leadership of Dr. Adeyegbe, the former Head of the National Office (HNO) of WAEC Nigeria in 2004, the council has established a competent and motivated team of staff. This dedicated team has conducted examinations that reflect the educational aspirations of member countries. Each year, WAEC coordinates examinations for over three million candidates, showcasing its widespread recognition and participation in its examination programs.
Yes, WAEC certificates are internationally recognized and comparable to those issued by equivalent examining authorities worldwide. The council's commitment to maintaining high standards ensures that its certificates hold credibility and are valued in both local and international contexts. Students who obtain WAEC certificates can utilize them for further education, employment opportunities, and various other purposes, as they carry the weight of a reputable examination board.
To participate in WAEC examinations, you must be a student in one of the member countries and register for the respective examination through your educational institution. Each member country has its own registration process and guidelines, so it is advisable to consult your school or educational authority for specific details regarding registration and examination requirements.