Yomi BlackWhat Economics looks like in WAEC is set by how WAEC examines it: a written examination with an objective paper, an essay paper, and a practical or alternative to practical where the subject has one. The topic areas matter, but the format decides how you should work them.
- Subject
- Economics
- Examined by
- WAEC
- Format here
- A written examination with an objective paper, an essay paper, and a practical or alternative to practical where the subject has one
- Depth
- Senior secondary depth, three years of teaching examined in one diet
- What the grade does
- A credit, and credits are the unit almost every admission requirement is written in
- Papers
- Objective and essay.
- Required for
- Economics, accounting, banking and finance, business administration, actuarial science and mass communication
How WAEC examines this subject
The format is a written examination with an objective paper, an essay paper, and a practical or alternative to practical where the subject has one, and it is marked by examiners against a published mark scheme, with method marks awarded for working and presentation marks for layout.
The grade sits on a certificate that does not expire and that you will show for the rest of your working life.
Where marks are lost in this subject
- Drawing diagrams without labelled axes, which forfeits the diagram marks.
- Defining terms loosely where the mark scheme wants precision.
- Answering the Nigerian economy section from the news rather than the syllabus.
Every diagram: axes labelled with the quantity, curves labelled, equilibrium marked, then the explanation. In that order.
Turning it into a plan
- Get the current syllabus from WAEC and check the year range on the cover.
- Write one line per topic area, with a box beside it.
- Work a past paper in this examination’s format, a written examination with an objective paper, and tag every question back to a line.
- Mark the lines your teaching has never covered. Those are the priority.
- Re-weight towards the component carrying the most marks. One diet a year for school candidates, so there is no second attempt inside the same admission cycle.
What a good grade here is worth
In this examination the grade is a credit, and credits are the unit almost every admission requirement is written in. Economics is required for economics, accounting, banking and finance, business administration, actuarial science and mass communication, and course requirements are checked subject by subject, so a strong overall result with a weak grade here is a disqualification for the course that names it rather than a near miss.
Quick answers on Economics
Where do I get the official syllabus?
From WAEC, on its own site, free. Check the year range on the cover before you use it.
Has the syllabus changed?
Syllabuses are revised on published cycles and old ones stay online after they expire. If the copy you are holding has no year range, you do not know what you are holding.
How do I turn it into revision?
One line per topic area with a box beside it, then tick the lines off against past papers rather than against your notes. The lines that stay blank are the finding.
Is Economics compulsory?
No. It is a business subject, chosen as one of your electives, and you should choose it because a course you want names it.
What is it required for?
Economics, accounting, banking and finance, business administration, actuarial science and mass communication.
How many papers are there?
Objective and essay.
What makes it hard?
Diagram marks are mechanical and generous, and most candidates lose them on labelling rather than on economics.
What is the most common way candidates lose marks?
Drawing diagrams without labelled axes, which forfeits the diagram marks.
What the subject covers
Use these topic areas as the frame for your own checklist, then verify the detail against the syllabus WAEC publishes itself, because depth and emphasis shift between curriculum cycles even when the headings do not.
- Basic economic problems and systems.
- Demand, supply and price determination.
- Theory of production and costs.
- Market structures.
- Money, banking and inflation.
- Public finance and taxation.
- National income and development.
- International trade and the Nigerian economy.
The paper structure, and how to weight your time
Objective and essay.
Split your preparation roughly in the proportion the components are weighted. Candidates habitually over-prepare the part they enjoy and meet the other part for the first time in the hall.
What makes it hard
Diagram marks are mechanical and generous, and most candidates lose them on labelling rather than on economics.
Set that against how this examination works. Three years of school teaching, which means your gaps are your school’s gaps, and finding them is the first job.
- WAEC Economics: past questions
- WAEC Economics: how to pass
- All WAEC subjects
- WAEC syllabus, all subjects
- WAEC grading and what counts as a credit
Sources
- The West African Examinations Council, Nigeria. Entry regulations for WASSCE. waecnigeria.org
- The West African Examinations Council, Nigeria. Registration and entry. waecnigeria.org
- The West African Examinations Council, Nigeria. Frequently Asked Questions. www.waecnigeria.org