SS1 First Term Economics Lesson Note and Scheme of Work
SS1 First Term Economics Lesson Note and Scheme of Work:
Week 1: Introduction to Economics
Lesson Note: Basic concepts of Economics, definition, and branches.
Activities: Class discussion on real-world economic examples, introduction to economic terms.
Week 2: Principles of Economics
Lesson Note: Law of demand and supply, equilibrium price determination.
Activities: Group activity on market scenarios, practical examples of demand and supply.
Week 3: Economic Systems
Lesson Note: Types of economic systems (capitalism, socialism, mixed economy).
Activities: Debate on pros and cons of different economic systems, case studies.
Week 4: Production and Cost
Lesson Note: Factors of production, types of production, cost of production.
Activities: Role-play on factors of production, cost analysis of a simple production process.
Week 5: Market Structures
Lesson Note: Perfect competition, monopoly, oligopoly, monopolistic competition.
Activities: Group projects on researching and presenting different market structures.
Week 6: National Income
Lesson Note: Measurement of national income, GDP, GNP.
Activities: Analysis of a country’s economic indicators, discussion on national income significance.
Week 7: Money and Banking
Lesson Note: Functions of money, types of money, central and commercial banking.
Activities: Simulation of a simple banking system, guest speaker from a local bank.
Week 8: Inflation and Deflation
Lesson Note: Causes, effects, and control measures of inflation and deflation.
Activities: Case studies on the impact of inflation/deflation on a country’s economy.
Week 9: International Trade
Lesson Note: Benefits, challenges, and policies of international trade.
Activities: Group presentations on the impact of international trade on a specific country.
Week 10: Economic Development
Lesson Note: Indicators of economic development, strategies for development.
Activities: Class discussion on the challenges faced by developing countries.
Week 11: Revision Week
Lesson Note: Comprehensive review of all topics covered.
Activities: Practice tests, group discussions, and Q&A sessions.
Week 12: Examination Week
Lesson Note: Final examination covering all topics.
Activities: Conducting and invigilating examinations.
Week 13: School Dismissal Week
Lesson Note: Recap of the term, feedback session.
Activities: Reflection on the term, setting goals for the next term, and farewell.
