Methods and Tools of Economic Analysis

Contents & notes: what this topic covers

Under Methods and Tools of Economic Analysis, the JAMB Economics syllabus expects you to study:

• 3. Methods and Tools of Economic Analysis a. Scientific Approach: i. inductive and deductive methods ii. positive and normative reasoning b. Basic Tools i. tables, charts and graphs ii. measures of central tendency: mean, median and mode, and their applications.
• iii. measures of dispersion; variance, standard deviation, range and their applications;
• iv. merits and demerits of the tools.

Study notes & guidance

Study Methods and Tools of Economic Analysis using a recommended Economics textbook that follows the JAMB syllabus. Work through the contents listed above one by one, make brief notes in your own words, and then practise as many questions on this topic as you can — in Economics, understanding and steady practice matter far more than memorising. Use the objectives below as a checklist: if you can do each one confidently, you have mastered this topic.

Objectives — candidates should be able to

After studying Methods and Tools of Economic Analysis, you should be able to:

1. (i) distinguish between the various forms of reasoning; (ii) apply these forms of reasoning to real life situations; (iii) use the tools to interpret economic data; (iv) analyse economic data using the tools; (v) understand the merits and demerits of the tools.

These objectives are from the official JAMB syllabus. Use them as a checklist — if you can do each one confidently, you have mastered this topic.

Source: official JAMB UTME Economics syllabus (IBASS, jamb.gov.ng). Reproduced for study use. Last checked: 17 Sept 2026. Always confirm the current syllabus on the official portal.