WAEC Syllabus for Economics 2026/2027

Economics ranks among the most popular and respected subjects in the West African Senior School Certificate Examination (WASSCE) administered by the West African Examinations Council (WAEC). As a social science discipline, it explores how individuals, families, businesses, and governments make choices regarding the distribution of limited resources to meet unlimited human needs.

The 2026/2027 WAEC Economics syllabus aims to provide students with a strong foundation in both microeconomic and macroeconomic concepts while linking these concepts to the realities of West African economies and the wider global economic landscape.

It moves beyond theoretical abstraction by encouraging students to examine real world economic challenges, assess policy alternatives, interpret data, and form well reasoned perspectives on matters such as poverty, inflation, unemployment, trade, and development.

Economics as a WAEC subject is appreciated not only for the examination results it yields but also for the analytical thinking and practical life skills it develops. Students who take Economics learn to think critically, apply quantitative reasoning, evaluate trade offs, and comprehend the forces that influence their surroundings. These abilities prove essential across nearly all areas of human activity.

Aims and Objectives

Knowledge of the basic economic principles, concepts, and tools for economic analysis.
Understanding of the structure and functioning of economic institutions: commercial, agricultural, industrial and financial institutions.
Understanding of the basis for rational economic decisions.
Ability to explain the basis and structure of the West African economy, including the roles of agriculture, industry and mining and their contributions to the national income.
Ability to follow the role and status of the West African countries in international economic relationships.
Ability to appreciate the problems West African countries encounter in their economic development.

Examination Scheme

There will be two papers, Paper 1 and Paper 2, both of which will be in a composite paper to be taken at one sitting.

Paper 1:

Will consist of fifty multiple choice questions to be taken in 1 hour for 50 marks.

Paper 2:

Will consist of eight essay type questions in two sections: Sections A and B. Section A will consist of two data response questions.

Candidates will be required to answer four questions in all, choosing one question from Section A and any three questions from Section B. The paper shall last 2 hours for 80 marks.