Economics Guides for SS 1 Business Finance
ECONOMICS
THEME – BUSINESS FINANCE
TOPIC 1 – INSTRUMENTS OF BUSINESS FINANCE
INSTRUCTIONAL MATERIALS
Inspection of some money instruments e.g share certificates
LEARNING OBJECTIVES
By the end of the lesson, students should be able to Identify and explain the instruments of business finance.
CONTENTS OF THE LESSON
FOCUS LESSONS
1. Sources of funds for businesses.
2. Basic instruments for business financing (shares, debentures and bonds). Meaning and types of shares, debentures, and other securities.
3. Problems of business finance in Nigeria.
LESSON PRESENTATION
TEACHER’S ACTIVITIES
1. Guide students to suggest various ways of financing business.
2. Discuss the instruments for financing business.
3. Discuss the problems of business finance in Nigeria.
STUDENT’S ACTIVITIES
1. Identify different ways money can be raised to start a business.
2. State the instruments for financing business.
3. mention the problems of business finance in Nigeria.
LESSON EVALUATION
Students to,
1. List and explain 5 ways of financing business.
2. State 3 instruments for financing business.
3. Differentiate between shares and debentures.
4. List and explain 5 types of shares.
5. List and explain 5 types of debentures.
6. State and explain 5 problems of financing business.
ECONOMICS
THEME – BUSINESS ORGANIZATIONS
TOPIC 2 – FIRMS AND INDUSTRY
INSTRUCTIONAL MATERIALS
Arrange a visit to any business location within the locality.
LEARNING OBJECTIVES
By the end of the lesson, students should be able to:
1. Define and explain the difference between a Firm and an Industry.
2. State the factors that determine the size of a firm.
3. List and explain the meaning of different types of business.
4. Discuss the formation and features of each type of business organisation.
5. Distinguish between private and public limited companies.
6. Identify the strengths and weaknesses of the different types of business organisation.
7. State the reasons for the predominance of small firms in Nigeria.
8. List method of raising funds in the capital market.
9. Define private and public companies.
10. State the characteristics, distinctions between private and public companies.
11. Distinguish between quoted and unquoted companies.
12. State the nature of the Second-Tier Stock Market.
CONTENTS OF THE LESSON
FOCUS LESSONS
1. Definition of firms and industry.
2. Types and basic features of business enterprises.
3. General and specific problems of business enterprises.
4. Private and public companies; definition, characteristics, distinction between private and public companies.
5. Quoted and unquoted companies, definitions and distinctions.
6. Shares, debentures and bonds.
LESSON PRESENTATION
TEACHER’S ACTIVITIES
1. Guides students to identify the different types of business organisation within the society.
2. Illustrates with examples from local economy differences between types of business organisations.
3. Emphasizes the issue of corruption, fraud and embezzlement of public funds.
4. Discuss nonchalant attitude in the management of public corporations.
5. Explains Rewards good management and punishment for bad management of government corporations.
STUDENT’S ACTIVITIES
1. Give examples of business outfits within their locality.
2. Identify the different types of business organisation within the society.
3. Give examples from local economy differences between types of business organisations.
4. State the issue of corruption, fraud and embezzlement of public funds.
5. Discuss nonchalant attitude in the management of public corporations.
6. Explain Rewards good management and punishment for bad management of government corporations.
LESSON EVALUATION
Students to,
1. Distinguish between a firm and industry.
2. Discuss types of business organisations.
3. State reasons why public corporations do not perform as well as private organisations.
ECONOMICS
THEME – DISTRIBUTIVE TRADE
TOPIC 3 – CHANNELS OF DISTRIBUTION
INSTRUCTIONAL MATERIALS
Charts showing channels of distribution.
LEARNING OBJECTIVES
By the end of the lesson, students should be able to:
1. Describe the channels of distribution from the producer to the final consumer.
2. State the functions of a wholesaler and retailer in the channel of distribution.
3. State and explain the role of cooperative society and government agencies in product distribution.
4. Identity the problems of distribution and ways of improvement.
CONTENTS OF THE LESSON
FOCUS LESSONS
1. Channels and Process of distribution
2. Roles of wholesalers, retailers and cooperatives
3. The roles of government agencies in product distribution and problems of distribution.
LESSON PRESENTATION
TEACHER’S ACTIVITIES
1. Introduce the various channels of distribution and their roles.
2. Discuss the roles of government agencies in product distribution and problems of distribution.
STUDENT’S ACTIVITIES
1. Identify wholesale trade and retail trade within their locality.
2. State the roles of government agencies in product distribution.
3. Identify the problems of distribution.
LESSON EVALUATION
Students to,
1. Explain and Illustrate the channels of distribution with a chart.
2. Outline the economic activities that are likely to improve effective distribution and marketing of commodities in Nigeria.
3. State the problems of distribution.
ECONOMICS
THEME – ECONOMIC SYSTEM
TOPIC 4 – BASIC ECONOMIC PROBLEMS OF SOCIETY
INSTRUCTIONAL MATERIALS
Relevant text books and teaching materials
LEARNING OBJECTIVES
By the end of the lesson, students should be able to:
1. State the basic economic problems of society.
2. Suggest ways of efficient allocation/use of scarce societal resources.
3. State examples of different economic systems and how they solve their economic problems.
CONTENTS OF THE LESSON
FOCUS LESSONS
1. Definition of economic system.
Problems of economic problems of society
- What to produce.
- For whom to produce.
- Efficiency of resource use.
LESSON PRESENTATION
TEACHER’S ACTIVITIES
Guide students to discover these basic problems and ways of solving them.
STUDENT’S ACTIVITIES
Discuss basic economic problems.
LESSON EVALUATION
Students to,
1. Describe the basic economic problems of society.
2. mention ways of making efficient use of resources.
ECONOMICS
THEME – FINANCIAL INSTITUTIONS AND REGULATORY AGENCIES
TOPIC 5 – MEANING OF FINANCIAL INSTITUTIONS
INSTRUCTIONAL MATERIALS
1. Pass books
2. Withdrawal booklets
3. Share certificates
4. Dividend warrants
5. Prospectus of quoted companies, etc.
LEARNING OBJECTIVES
By the end of the lesson, students should be able to:
1. Explain the term financial institutions.
2. List the different types of banking and non banking financial institutions.
3. Identify the different features of bank and non banking financial institutions.
4. Explain the functions of each institutions and indicate its importance.
CONTENTS OF THE LESSON
FOCUS LESSONS
1. Meaning and Segments of financial system
2. Money and capital markets
3. Benefit of capital market
LESSON PRESENTATION
TEACHER’S ACTIVITIES
Teacher to organize an excursion to commercial banks, development bands and the Stock Exchange within their locations.
STUDENT’S ACTIVITIES
Give names of commercial banks, development banks, stock firms and non banking financial institutions within their locality.
LESSON EVALUATION
Students to,
1. Differentiate between money functions and capital market functions.
2. What is universal banking?
ECONOMICS
THEME – MONEY, INFLATION AND DEFLATION
TOPIC 6 – MEANING, CHARACTERISTICS AND FUNCTIONS OF MONEY
INSTRUCTIONAL MATERIALS
1. Coins
2. Bank notes
3. ATM cards
4. Credit cards
5. Cowries
6. Commodity monies
LEARNING OBJECTIVES
By the end of the lesson, students should be able to:
1. Explain the meaning of money.
2. Compare money economy with a barter economy.
3. Identity the various types of money and explain the functions of money in modern economy.
4. Explain the characteristics of money.
CONTENTS OF THE LESSON
FOCUS LESSONS
1. Definition of money
2. Historical development of money
3. Functions of money
4. Types (including credits cards, value card, other ICT aided payment instruments).
5. Characteristics of money
6. Qualities of a good money
LESSON PRESENTATION
TEACHER’S ACTIVITIES
1. Guide students to discover the functions and qualities of a good money.
2. Lead students to discover the benefits of a cashless economy over money and barter economies.
STUDENT’S ACTIVITIES
Identify money instruments and items used in barter exchange.
LESSON EVALUATION
Students to,
1. Explain the meaning of money.
2. Compare money economy with a barter economy.
3. Identity and explain 3 types of money
4. Explain 5 functions of money in modern economy.
5. Explain 5 characteristics of money.
6. State 5 reasons why ATM and Credit cards are becoming more popular in Nigeria.
ECONOMICS
THEME – POPULATION, LABOUR MARKET AND HUMAN CAPITAL DEVELOPMENT
TOPIC 7 – LABOUR MARKET
INSTRUCTIONAL MATERIALS
LEARNING OBJECTIVES
By the end of the lesson, students should be able to:
1. Demonstrate the link between the structure of population and growth of the labour force.
2. Identify and explain the other factors that affect the size of the labour force.
CONTENTS OF THE LESSON
FOCUS LESSONS
1. Concept of labour force
2. Efficiency and mobility of labour
3. Factors affecting the size of labour force particularly the population characteristics (age, sex, occupation, education).
LESSON PRESENTATION
TEACHER’S ACTIVITIES
1. Discuss the meaning of labour force, efficiency and mobility of labour.
2. Leads a discussion on the factors affecting the size of labour force particularly the population characteristics (age, sex, occupation, education).
3. Plot the labour participation rate against the growth rate of the population.
STUDENT’S ACTIVITIES
1. Participate actively on the meaning of labour force, efficiency and mobility of labour.
2. List the number of male and female teachers in the school.
3. Give the sex, age and occupation of members of their households
LESSON EVALUATION
Students to,
1. Explain the meaning of labor force, efficiency and mobility of labour.
2 Demonstrate the link between the structure of population and growth of the labour force.
3. Identify and explain the other factors that affect the size of the labour force.
4. List the number of male and female teachers in the school.
5. Give the sex, age and occupation of members of their households
ECONOMICS
THEME – POPULATION, LABOUR MARKET AND HUMAN CAPITAL DEVELOPMENT
TOPIC 8 – POPULATION
INSTRUCTIONAL MATERIALS
1. Charts and other relevant materials showing people, country, sex and occupation.
2. Present census figures from the National Population office.
LEARNING OBJECTIVES
By the end of the lesson, students should be able to:
1. Explain the meaning of Population in Economics.
2. Describe population size and its implications.
3. Discuss various population theories in Economics.
4. Explain the meaning of population distribution and its implications on the economy.
5. Explain population census and state the importance and problems.
CONTENTS OF THE LESSON
FOCUS LESSONS
1. Meaning of population
2. Determinants and implications of population size and growth.
3. Theories of population e.g. Malthusian Theory, Demographic Transition Theory, etc.
4. Geographical, age, sex and occupational distribution of population.
5. Meaning, importance and problems of census.
LESSON PRESENTATION
TEACHER’S ACTIVITIES
1. Guides students to define population.
2. Leads students to identify determinant and implications of population size and growth.
3. Explains different types of population theories.
4. Guide students to compare the population of different countries within and outside Nigeria.
5. Leads a discussion on meaning and importance population census.
6. Discuss the problems of conducting population census in Nigeria.
STUDENT’S ACTIVITIES
1. Define population.
2. Identify the determinant and implications of population size and growth.
3. State and explain different types of population theories.
4. Compare the population of different countries within and outside Nigeria.
5. Discuss the meaning and importance population census.
6. State the problems of conducting population census in Nigeria.
7. State the population of their class and family, including sex and age distribution.
LESSON EVALUATION
Students to,
1. Define the concept of population.
2. List and explain the factors affecting population growth.
3. Discuss the implications of an increasing or decreasing population on the economy.
4. State the importance of population.
5. Explain population census.
6. State 5 importance of population census.
7. Mention 5 problems of population census.
ECONOMICS
THEME – PRINCIPLES OF ECONOMICS
TOPIC 9 – BASIC TOOLS OF ECONOMIC ANALYSIS
INSTRUCTIONAL MATERIALS
Charts graphs and other relevant materials
LEARNING OBJECTIVES
By the end of the lesson, students should be able to:
1. Define basic economic tools, state their uses and importance.
2. Construct a frequency distribution.
3. Calculate the mean, median and mode of any given set of data.
CONTENTS OF THE LESSON
FOCUS LESSONS
Basic economic tools, state their uses and importance,
- Graphs
- Charts and tables
- Measures of central tendency
2. Frequency distribution
3. Calculate the mean, median and mode of any given set of data.
LESSON PRESENTATION
TEACHER’S ACTIVITIES
1. Guides students to state and explain the basic economic tools, state their uses and importance.
2. Leads students to calculate the mean, median and mode of any given set of data.
STUDENT’S ACTIVITIES
1. Discuss the basic economic tools, state their uses and importance.
2. Calculate the mean, median and mode of any given set of data.
LESSON EVALUATION
Students to,
1. Discuss the basic economic tools, their uses and importance.
2. Construct a frequency distribution.
3. Calculate the mean, median and mode of a given set of data.
ECONOMICS
THEME – PRINCIPLES OF ECONOMICS
TOPIC 10 – CONCEPT OF DEMAND AND SUPPLY
INSTRUCTIONAL MATERIALS
Pictures of people in market places.
LEARNING OBJECTIVES
By the end of the lesson, students should be able to:
1. Explain the meaning of demand and supply, draw schedules and curves of a given commodity.
2. State the laws of demand and supply.
3. Determine equilibrium price and points for a commodity.
4. State and explain the factors that affect the demand and supply for a commodity.
CONTENTS OF THE LESSON
FOCUS LESSONS
1. Price system
2. Demand and supply schedules and curves
3. Law of demand and supply
4. Factors affecting demand and supply
5. Determinants of equilibrium price
LESSON PRESENTATION
TEACHER’S ACTIVITIES
1. Guide the students to explain the concept of demand and supply.
2. Discuss the following:
- price system
- Law of demand and supply
- Factors affecting demand and supply
- Determinants of equilibrium price
STUDENT’S ACTIVITIES
Share experiences that relate to demand and supply gathered on routine visits to shops and markets.
LESSON EVALUATION
Students to,
1. State the differences between want and demand.
2. State the laws governing the demand for and the supply of a commodity.
3. Determine the equilibrium price and quantity for a commodity.
4. State the factors affecting demand and supply.
ECONOMICS
THEME – PRINCIPLES OF ECONOMICS
TOPIC 11 – MEANING OF ECONOMICS AND RELATED CONCEPTS
INSTRUCTIONAL MATERIALS
Pictures of some items.
LEARNING OBJECTIVES
By the end of the lesson, students should be able to:
1. Explain the meaning of Economics.
2. Explain the basic concepts of Economics and show its relevance to day-to-day human activities and decisions.
CONTENTS OF THE LESSON
FOCUS LESSONS
1. Definitions, scope, importance and methodology of Economics.
2. Economics as a science.
3.Concept of Want, Scarcity, Scale of Preference, Choice, Opportunity Cost
LESSON PRESENTATION
TEACHER’S ACTIVITIES
Teacher,
1. Discuss the scope, importance and methodology of Economics with the students.
2. Leads a discussion on economics as a science.
3. Guides students on a discussion on the concept of want, scarcity, scale of preference, choice, opportunity cost.
4. Arrange a group discussion on how the knowledge of these concepts influence our daily choices.
STUDENT’S ACTIVITIES
1. Explain the scope, importance and methodology of Economics.
2. Discuss the concept of economics as a science.
3. Explain the following – want, scarcity, scale of preference, choice, opportunity cost.
4. Group discussion to relate these concepts to the daily activities of individuals, firms and government.
LESSON EVALUATION
Students to,
1. Define economics.
2. State 5 importance of economics.
3. Mention the scope of economics.
4. Discuss the methodology of Economics.
5. Economics as a science.
6. Write short short on
- Want
- Scarcity
- Scale of Preference
- Choice
- Opportunity Cost
7. Explain how the knowledge of the basic concepts affect the decisions of individuals, firms and government.
ECONOMICS
THEME – PRINCIPLES OF ECONOMICS
TOPIC 12 – THEORY OF PRODUCTION
INSTRUCTIONAL MATERIALS
Charts and manufactured products
LEARNING OBJECTIVES
By the end of the lesson, students should be able to:
1. Explain the concept/factors of production.
2. State and explain the characteristics of each factor of production.
3. Explain the meaning of division of labour.
4. State the difference between specialisation and division of labour.
5. Identify the advantages, disadvantages and limitation of division of labour.
6. State the advantages and disadvantages of large scale production.
CONTENTS OF THE LESSON
FOCUS LESSONS
1. Meaning of production
2. Types of production
3. Factors of production
4. Division of labour and specialisation
5. Scale of production
LESSON PRESENTATION
TEACHER’S ACTIVITIES
Teacher,
1. Explains the concept of factors of production.
2. States and explains the characteristics of each factor of production.
3. Guides students to explain the meaning of division of labour with appropriate examples or information.
4. States the difference between specialisation and division of labour.
5. Discuss the advantages, disadvantages and limitation of division of labour.
6. Discuss the advantages and disadvantages of large scale production.
7. Demonstrate the importance of division of labour by assigning aspects of a given task to different groups within the class.
STUDENT’S ACTIVITIES
Students,
1. Explain the concept of factors of production.
2. State the characteristics of each factor of production.
3. Explain the meaning of division of labour.
4. Differentiate between specialisation and division of labour.
5. State the advantages, disadvantages and limitation of division of labour.
6. State the advantages and disadvantages of large scale production.
7. Perform given tasks.
8. Display different products.
LESSON EVALUATION
Students to,
1. Explain the concept of factors of production.
2. Outline and explain 4 characteristics of the following factor of production,
- Land
- Labour
- Capital
- Entrepreneur
3. Explain the meaning of division of labour.
4. State 5 difference between specialisation and division of labour.
5. Identify the 5 advantages, 5 disadvantages and 5 limitation of division of labour.
6. Explain the economies of large scale production.
7. State the 5 advantages and 5 disadvantages of large scale production.
8. Describe the concept of production in economy.
ECONOMICS
THEME – STRUCTURE OF THE NIGERIA ECONOMY
TOPIC 13 – AGRICULTURE
INSTRUCTIONAL MATERIALS
Visit farms in their locality to observe the practice of agriculture
LEARNING OBJECTIVES
By the end of the lesson, students should be able to:
1. State the meaning of Agriculture.
2. Identify the main components of agriculture.
3. Explain the main features of various systems of agriculture.
4. Explain the importance of agriculture to economic development in Nigeria.
5. Explain the processes and challenges of marketing both food and cash crops in Nigeria.
CONTENTS OF THE LESSON
FOCUS LESSONS
1. Meaning of Agriculture
2. Components of agriculture, crop production, livestock, forestry, fishing. Systems of agriculture (cultivation methods)
3. Features of various systems of agriculture.
4. Importance of agriculture to the Nigerian economy.
5. Activities of the Marketing Boards in Nigeria – processes and challenges.
LESSON PRESENTATION
TEACHER’S ACTIVITIES
Teacher,
1. Leads a discussion on the meaning of agriculture.
2. Guides students to identify and state the components of agriculture, crop production, livestock, forestry, fishing. Systems of agriculture (cultivation methods)
3. Encourages students to visit farms in their locality and asked to discuss the system of agriculture that is prevalent there.
4. Leads students to Importance of agriculture to the Nigerian economy.
5. Discuss the activities of the Marketing Boards in Nigeria – features of various systems of agriculture.
6. Highlights some government agricultural reform programmes such as
- OFN – Operation Feed the Nation
- RBDA – River Basin Development Authority
- NAFPP – National Accelerated Food Production Programmes
- GRP – Green Revolution Programme
- establishment of ADB provision of fertilizers, improved seedlings, formation of co-operative, improved storage facilities, and the provision of extension services.
STUDENT’S ACTIVITIES
1. List major agricultural products produced in their localities and distinguished between cash crop and food crops.
2. Explain the meaning of agriculture.
3. Identify and state the components of agriculture, crop production, livestock, forestry, fishing. Systems of agriculture (cultivation methods) and their features.
4. Analyze the importance of agriculture in their communities.
5. Discuss the activities of the Marketing Boards in Nigeria.
6. Highlights some government agricultural reform programmes.
7. Participate actively in farm work in the school and at home.
LESSON EVALUATION
Students to,
1. Define agriculture.
2. State and explain 4 components of agriculture.
3. Discuss 5 importance of agriculture to the Nigerian economy.
4. State and explain 5 reasons for low agricultural productivity in Nigeria .
5. Suggest 5 ways to increase agricultural productivity in Nigeria.
6. Highlights 5 government agricultural reform programmes.
7. Explain the meaning of marketing board.
8. Discuss the activities of the Marketing Boards in Nigeria.
9. State 5 advantages and 5 disadvantages of Marketing Boards in Nigeria.
10. Differentiate between food and cash crops.
ECONOMICS
THEME – STRUCTURE OF THE NIGERIAN ECONOMY
TOPIC 14 – MINING
INSTRUCTIONAL MATERIALS
1. Charts showing mineral resources in Nigeria
2. Maps indicating the location different mineral resources
LEARNING OBJECTIVES
By the end of the lesson, students should be able to:
1. State the types of Mineral found in Nigeria and their uses.
2. Identify locations of Mineral deposits in Nigeria.
3. Identify the various components of the Nigerian mining industry.
CONTENTS OF THE LESSON
FOCUS LESSONS
1. Components of the Nigerian mining industry
2. Mineral types, uses and locations.
LESSON PRESENTATION
TEACHER’S ACTIVITIES
Teacher,
1. Guides students to discuss the meaning and types mineral resources in Nigeria.
2. Discuss the uses and importance of mineral resources on national development.
3. Displays a map showing the location of mineral deposits in Nigeria.
4. Organizes a visit to mining or quarry site in the locality.
STUDENT’S ACTIVITIES
1. Mention names of different minerals that can be found in Nigeria.
2. Explain the meaning and types mineral resources in Nigeria.
3. Analyze importance of mineral resources on national development.
4. Draw and indicate the location of mineral deposits in Nigeria.
LESSON EVALUATION
Students to,
1. Explain the meaning of mineral resources.
2. State 5 types of Mineral found in Nigeria and their uses.
2. Mention 5 locations of mineral deposits in Nigeria with appropriate minerals.
3. Identify 5 various components of the Nigerian mining industry.
ECONOMICS
THEME – STRUCTURE OF THE NIGERIAN ECONOMY
TOPIC 15 – THE NATURE OF THE NIGERIAN ECONOMY
INSTRUCTIONAL MATERIALS
Economic map of Nigeria.
LEARNING OBJECTIVES
By the end of the lesson, students should be able to:
1. Explain the nature and structure of the Nigerian economy.
2. Identify and explain the relative contributions of various sectors of the economy.
CONTENTS OF THE LESSON
FOCUS LESSONS
1. General overview of the Nigerian economy and its economic potentials.
2. Nature and structure of industries in Nigeria
3. Contributions of the Primary, Secondary and Tertiary sectors.
LESSON PRESENTATION
TEACHER’S ACTIVITIES
Teacher explains the various economic activities of the sex geo-political zones of the country with regard to agriculture and mining.
STUDENT’S ACTIVITIES
Mention the various products produced in different zones of the country.
LESSON EVALUATION
Students to explain the nature of the economy of Nigeria by mentioning the economic activities of various zones.