Economics Lesson Note for Complete SS1 First, Second and Third Term

Description

SS1 Economics Scheme of Work for First, Second and Third Term: These lesson notes cover the following topics.

First Term:

1. Meaning of Economics.
2. Economics as a Science, Arts or Social subject.
3. Basic Concept of Economics.
4. Importance of Opportunity Cost to an Individual, Firms and the Government.
5. Basic Economic Problems of the Society.
6. Basic Tools for Economics Analysis.
7. Data Collection and Presentation.
8 Theory of Production.
9. Land as a Factor of Production.
10. Labour as a Factor of Production
11. Revision.
12 & 13. Examination.

REFERENCE BOOKS
• Amplified and Simplified Economics for Senior Secondary School by Femi Longe
• Comprehensive Economics for Senior Secondary School by J.V. Anyaele
• Fundamentals of Economics for SSS By. R.A.I. Anyanwuocha

Second Term:

1. Capital as a Factor of Production-Meaning, Type and Characteristics
Entrepreneur- Meaning and Function
2. Division of Labour
a. Meaning
b. Advantages and Disadvantages
c. Limitations
Specialization
a. Meaning
b. Types
3. Scale of Production
a. Meaning of Scale of Production
b. Small, Medium and Large Scale
c. Internal and External Economies of Scale
d. Internal and External Diseconomies of Scale
4. Firm & Industry
a. Definition of Firm, Plant and Industry.
b. Factors that Determine the Size of a Firm
c. Concept of Total Product (TP), Average Product (AP) and Marginal Product
(MP). Illustration with Tables and Graphs
d. Production Possibility Curve
5. Business Organization
Sole Proprietorship and Partnership
a. Meaning
b. Characteristics
c. Types of Partnership
d. Advantages and Disadvantages
e. Sources of Finance
f. Contributions to the Economy
6. Joint Stock Companies
a. Meaning
b. Characteristics
c. Types ( Private and Public Liability Companies)
d. Advantages and Disadvantages
e. Sources of Finance (Shares, Bonds, Debentures, etc)
f. Contributions to the Economy
Co-operative Societies
a. Meaning
b. Types of Co-operative Society
c. Advantages and Disadvantages
d. Sources of Finance
7. Public Enterprises
a. Meaning
b. Characteristics
c. Reasons for setting up
d. Advantages and Disadvantages
e. Sources of Finance
f. Contributions to the Economy
8. Population
a. Meaning of Population
b. Determinants of Population Size
c. Population Growth (High Population and Declining Population)
d. Implication of Size and Growth of Population
9. Population Census
a. Meaning of Population Census
b. Types of Population Census
c. Importance (Uses)
d. Problems of Population Census
Population Structure or Distribution(Sex, Age, Geographical & Occupational distribution)
10. Population and Economic Development
a. Over – Population
b. Under – Population
c. Optimum- Population
Theories of Population
a. Malthusian Theory
b. Demographic Transition Theory
How to Control Population Growth.
11. Labour Market
a. Definition of Labour Market
b. Concept of Labour Force
c. Factors Affecting the Size of Labour Force
Mobility of Labour
a. Meaning of Mobility of Labour
b. Types of Mobility of Labour
c. Importance of Mobility of Labour

REFERENCE BOOKS
• Amplified and Simplified Economics for Senior Secondary School by Femi Longe
• Comprehensive Economics for Senior Secondary School by J.V. Anyaele
• Fundamentals of Economics for SSS By. R.A.I. Anyanwuocha
• SSCE Economics Past Question Pack.

Third Term:

1 Revision of Second Term Unified Examination
DISTRIBUTIVE TRADE
Meaning
Chain of Distribution.
Process of Distribution
Wholesalers (Functions to Producers and Retailers).
Retailers (Functions to Wholesaler and Customers).
2 MIDDLEMEN
Argument For or Against the Elimination of Middlemen
Problems of Product Distribution in Nigeria
Ways of Improving the System of Distribution of Consumer Goods in West Africa.
Roles of Government Agencies in Product Distribution
3 MONEY
Definition of money and its origin
Trade by Barter system and its deficiencies
Kinds / Types of Money
Characteristics of Money
Functions of Money
4 FINANCIAL INSTITUTIONS
Meaning of Financial Institutions
Types of Financial Institution
Commercial Banks
Meaning of Commercial Banks
Characteristics of Commercial Banks
Functions and Creation of Credit and its Limitations
Central Bank
Meaning of Central Bank
Characteristics of Central Bank
Functions and Weapons of Controlling Commercial Banks
5 CONCEPT OF DEMAND AND SUPPLY
DEMAND
Meaning of Demand
Law of Demand
Schedule and Curve
Types of Demand
Factors Affecting Demand
6 SUPPLY
Meaning of Supply
Law of Supply
Schedule and Curve
Types of Supply
Factors Affecting Supply
7 EQUILIBRIUM PRICE/PRICE DETERMINATION
Meaning
Use of Hypothetical Schedule and Graph to Determine Equilibrium Price
Calculation from Hypothetical Table from Equations of Demand and Supply (i.e. Qd = Qs)
Price System
Meaning of Price System
Functions and Other Means of Determining Prices
8 THE NATURE OF THE NIGERIAN ECONOMY
General Overview of the Nigerian Economy
Nature and Structure of Industries in Nigeria
Contributions of Primary, Secondary and Tertiary Sectors
Explain Economic Activities of the Six GeoPolitical Zones
9 AGRICULTURE
Meaning of Agriculture
Components/Structures
Systems of Agriculture
Contributions to the Economy
Problems and Solutions of Agriculture
Agricultural Policies in Nigeria (OFN, RBOA, NAFPP, Green Revolution)
10 MINING
Meaning
Components of the Nigerian Mining Industry
Minerals (Types, Uses and Locations)
11 Revision
12 – 13 Examination

REFERENCE BOOK
• Amplified and Simplified Economics for Senior Secondary School by Femi Longe
• Comprehensive Economics for Senior Secondary School by J.V. Anyaele
• Fundamentals of Economics for SSS By. R.A.I. Anyanwuocha