Syllabus content and objectives
Official JAMB Economics outline · Section D: National Income, Money, and Financial Institutions
Content
Concepts of gross national product (GNP), gross domestic product (GDP), national income (NI), and net national product (NNP).
Objective
Identify the major concepts in national income.
Content
Methods of measuring national income and the problems associated with measurement.
Objective
Compare the different methods of measuring national income and examine the problems associated with them.
Content
Uses and limitations of national income estimates.
Objective
Determine the uses and limitations of national income estimates.
Content
Circular flow of income using two-sector and three-sector models.
Objective
Interpret the circular flow of income using two-sector and three-sector models.
Content
Concepts of consumption, investment, and savings.
Objective
Explain the concepts of consumption, investment, and savings.
Content
The multiplier and its effects.
Objective
Calculate the various multipliers and evaluate their effects on equilibrium national income.
Content
Elementary theory of income determination and equilibrium national income.
Objective
Evaluate the effects of multipliers on equilibrium national income and understand the elementary theory of income determination.
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