Public Finance

Contents & notes: what this topic covers

Under Public Finance, the JAMB Economics syllabus expects you to study:

• 14. Public Finance a. Meaning and objectives b. Fiscal policy and its instruments c. Sources of government revenue (taxes royalties, rents, grants and aids) d. Principles of taxation e. Tax incidence and its effects f. The effects of public expenditure g. Government budget and public debts h. Revenue allocation and resource control in Nigeria.

Study notes & guidance

Study Public Finance 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 Public Finance, you should be able to:

1. (i) identify the objectives of public finance; (ii) explain fiscal policy and its instruments; (iii) compare the various sources of government revenue; (iv) analyse the principles of taxation; (v) analyse the incidence of taxation and its effects; (vi) examine the effects of public expenditure on the economy; (vii) examine the types and effects of budgets; (viii) highlight the criteria for revenue allocation in Nigeria and their impact.

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.