SS2 First Term Economics Lesson Note and Scheme of Work
Week 1: Introduction to Economics
Lesson Note: Begin with the basics of economics, defining key terms such as scarcity, opportunity cost, and factors of production. Use real-life examples to illustrate economic concepts.
Activities: Conduct a class discussion on current economic issues and their impact on daily life.
Week 2: Microeconomics vs. Macroeconomics
Lesson Note: Differentiate between microeconomics and macroeconomics. Explore the role of individuals and businesses in microeconomics, and the broader impact of government policies in macroeconomics.
Activities: Assign research projects on microeconomic and macroeconomic policies.
Week 3: Demand and Supply
Lesson Note: Dive into the fundamentals of demand and supply, explaining the law of demand and supply. Explore factors affecting demand and supply in various markets.
Activities: Conduct a market simulation to help students understand the dynamics of demand and supply.
Week 4: Elasticity of Demand and Supply
Lesson Note: Discuss elasticity concepts, both in demand and supply. Explore how changes in price and income affect consumer behavior and producer decisions.
Activities: Analyze real-world scenarios to determine the elasticity of certain goods.
Week 5: Market Structures
Lesson Note: Introduce different market structures: perfect competition, monopoly, oligopoly, and monopolistic competition. Discuss characteristics and implications for consumers and producers.
Activities: Organize a class debate on the advantages and disadvantages of various market structures.
Week 6: Production and Cost
Lesson Note: Examine the production process, cost concepts, and the relationship between production and cost. Introduce production functions and cost curves.
Activities: Conduct a hands-on activity, such as a small-scale production simulation, to illustrate production and cost concepts.
Week 7: Revenue and Profit
Lesson Note: Explore revenue and profit concepts, including total revenue, average revenue, and marginal revenue. Discuss profit maximization and loss minimization.
Activities: Engage students in a case study analysis of a business’s revenue and profit trends.
Week 8: National Income Accounting
Lesson Note: Introduce national income accounting, measuring a country’s economic performance. Discuss GDP, GNP, and their components.
Activities: Assign a project for students to analyze and compare the national income of different countries.
Week 9: Economic Indicators
Lesson Note: Explore key economic indicators such as unemployment rate, inflation rate, and poverty rate. Discuss their significance in assessing economic health.
Activities: Analyze recent economic data and discuss its implications for the local community.
Week 10: Money and Banking
Lesson Note: Delve into the functions of money, the banking system, and the role of central banks. Explain concepts like monetary policy.
Activities: Organize a field trip to a local bank or invite a guest speaker from the banking sector.
Week 11: Revision Week
Lesson Note: Review key concepts and address any outstanding questions. Conduct practice exams and provide feedback to prepare students for the upcoming examination.
Activities: Group study sessions, review quizzes, and interactive revision games.
Week 12: Examination Week
Lesson Note: Administer the final examination covering all topics studied throughout the term.
Activities: Ensure a quiet and conducive environment for the examination.
Week 13: School Dismissal Week
Lesson Note: Summarize the term’s key learnings, encourage reflection, and provide guidance for further study during the break.
Activities: Celebrate achievements, distribute report cards, and set expectations for the next term.
