2022/2023 SS2 Economics Scheme Of Work

Economics scheme of work

If you have been finding it difficult to get an ss2 economics scheme of work, we have tried our best to get you the latest approved economics scheme for all classes and terms. Here we have provided you with the unified economics scheme of work which can be used in all states in Nigeria

First Term SS2 Economics Scheme Of Work

WEEKSTOPIC/CONTENTACTIVITIES
1Tools Of Economic Analysis
simple linear equation, a measure of dispersion ( pie chart, bar chart, histogram and polygon), calculate of chart
The teacher use the previous Test knowledge of basic tools taught in year 1
give relevant exercise on the new topic
Learners draw table, graph and calculate given data.
2Theory Of Demand
Definition of demand
law of demand, demand schedule and demand curve, types and factors affecting demand, change in demand and change in quantity demanded.
Emphasise the role of the price system in resources allocation in economic
Learners Plot the demand schedule in a graph to obtain the curve
3Theory Of Supply
definition and law of supply, supply schedule and supply curve, types and change in supply and change in quantity supply
The teacher withe the students emphasise the role of the price system in resources allocation in economic
The learners plot the supply schedule in the graph to obtain the curve.
4The Production Possibility Curve
Production possibility curve, concept of total, average and marginal productivity and laws of variable proportion
The teacher led the students in Giving hypothetical production data and
figure to plot the PPC and calculate marginal product (MP) and average product ( AP).
Students Draw the PPC on graph sheets and calculate the AP and MP.
5Cost Concept
definition of cost, cost concept:- total, average, marginal, fixed, variable, short-run and long-run cost, the distinction between economists’ and accountants’ views of cost.
The instructor asks the students to state what they consider as cost,
highlight the distinction between the cost to the individual, business, enterprise and to nation.
The learners Identify costs incurred in the running of the school,
students go on excursion to local factors to identify cost items.uctor
6Revenue
The concept of revenue:-Total, average and  marginal revenue, revenue schedule and curves
The teacher explain the concept of total, average and marginal revenue,
draw relevant revenue schedule and curves
The students draw revenue schedules and curves from the hypothetical figure provided by the teacher.
7Types And Features Of Economic Systems
Basic features of economic system: capitalization, socialism, mixed econ.
The instructor and the learners explain features of the various economic systems by drawing.
For example from define USSR, the united States and Nigeria
State features of the Nigerian economy and the types of the economic system being operated.
8Labour Market
supply of and demand for labour, wage determination, trade union and
other related institutions, the concept of unemployment, types, effect and solution.
The instructor review the relationship between the size of the labour force and
population trusted in ss1, draw out the distinction between real and nominal wages,
discuss the introduction of minimum wages.
State the population of their various household and the number who are effectively employed and mention some jobs a young school leaver could engage in
9Elementary Treatment Of Utility Theory
The concepts of utility, average, marginal and total utility,
discuss the principle of utility maximization and diminishing marginal utility
and explain why the curves are downward sloping.
The teacher guides the students to Calculate the total, average, and marginal utility from the hypothetical schedule given.
10Price Determination
Determination of equilibrium price and quantity, the effect of changes in demand and
supply on the equilibrium price and quantity, types of demand and supply ( joint demand, joint supply etc.)
The concept of elasticity and its application, simple application of price theory e.g. minimum and maximum price legislation.
The teacher demonstrates the effect of changes in demand and
supply on equilibrium price and quantity, illustrate with local examples and calculates elasticity values
The students use the graph to explains the effect of changes in demand/quantity demanded on the price and quantity.
11

Summary Of SS2 Economics Scheme Of Work

Before we provide the ss2 economics scheme we have decided to highlight the important things student should know after the completion of this term. Therefore at the end of this term students should be able to :
explain simple economic relationships with tables, (graphs and charts).

Explain the meaning of demand and its various types, explain affecting demand, distinguish between factors causing shifts in demand and those causing movements along the demand curve, distinguish between

explain the meaning of supply and its various types, explain factors affecting supply, distinguish between factors causing a shift in supply and those causing movement along the supply curve, distinguish between various types of supply .

Define the PPC, show how to plot the graph from possible data

Distinguish between the different cost concepts ( variable, fixed, average, marginal, short run and long run cost ), draw different cost curves, explain the relationship between cost and production

Define revenue, distinguish between the different revenue concepts ( total, average, marginal), draw different revenue curve and explain the relationship between revenue and production

Describe different economic systems ( free enterprises, centrally planned and mixed economy) and how they solve their financial problems. Distinguish among the system.

Identify the factors that influence the supply and the demand for labour, distinguish between factors that shift the supply and demand curve and those that affect their slope, explain different kinds of unemployment, cause, effects and solution

Explain the real-life examples, the concept of utility, average, marginal and total utility, explain the principle of diminishing marginal utility with the drinking of water or soft drinks

Identify and explain the interaction between the force of demand and supply in determining the market price.
Explain the effect of changes in demand and supply on the equilibrium price and quantity.
Explain the elasticity of demand and supply using curves and mathematical expressions, explain and use the concept of elasticity to analyze the price policy of firms on maximum and minimum price control.

Second Term SS2 Economics Scheme Of Work

WEEKSTOPIC/CONTENTACTIVITIES
1Market – Structure
Concept and types of market, review of cost and revenue curves, price and
quantity of determination under perfect competition, monopoly, duopoly, and oligopoly
The instructor emphasize the distinction between market and
marketplace, identify and explain the basic features of the perfect
and imperfect markets using real-life examples, revise cost
and revenue concept. 
The learner list and distinguish between the various types of markets, explain the meaning of markets and distinguish it from the marketplace.
2Elementary Treatment Of Fiscal Policy
Meaning and types of a fiscal policy of public finance,
objectives of public finance, revenue allocation ( including resources control ) and source of government revenue. 
The teacher Illustrate with Nigerian data at different stages of teaching,
list the source of government revenue and state the objectives of public finance
3Direct and indirect taxation
Effect and incidence of taxation, structure and effects of public expenditure on government budget
The teacher uses demand and supply curves to analyse the incidence of taxation
The students distinguish between  direct and indirect taxation, and discuss incidence of taxation
4Budget
Meaning of budget : meaning and types  of budget : balanced, surplus and difficult budget
Ways of financing difficult budget and their effects. ( debt burden, debt relief, debt buyback), national debt
The instructor guide the students by using a budget statement to illustrate government fiscal operations,
state ways of financing difficult budget and there effects
The learners list their own source of revenue and the items they spend money on e.g. in the previous week
5Element Of National Income Accounting
Meaning of national income concept and their uses, ways, problem, uses and
The instructor guides students in learning the ways of calculating national income
The students identify local economic activities that contributes to total national income and
also apply the concept of income determination to solve simple economic problems
6Money
Demand for and supply of money, motive for holding money,
determinants of supply and demand for money, value of money and price level, elementary quantity theory of money
The teacher explains the various motive for holding wealth in the form of money,
provide illustration of coins, paper money and cheque, specimens of items that could serve as commodity money
The students identify the various motives for holding money and identify the determinants of the supply of money
7Inflation
Meaning, types, cause, effect and control of inflation, inflation in Nigeria
The instructor Organizes students in  smaller group to discuss effect of rising in price on their allowance
and what they can buy, present the material making reference to the day – to – day transaction experience of the students
The learners narrate their experience of inflation in their environment,
testify to the fact that hoarding cause inflation and plot graph to illustrate price changes over time.
8Deflation
Meaning, types, causes, effect and control of deflation
The teacher organizes students in smaller group to discuss the effect of falling prices on their allowances
and what they can buy.
The students narrate the experience deflation in their environment,
plot a graph to illustrate price changes over time and testify to the fact that over – production causes deflation
9Economic Lessons From Asian Tigers, Japan, Europe And America
Economics history of Asian tigers and Japan ( 1960 – 2000)
Test previous knowledge of economic systems taught in previous year,
lead students to locate Indonesia, korea, Taiwan, and japan on the world map,
assits them to describe the economic history of Indonesia, korea, Taiwan and Japanese ( from 1960 to date.)
The learners discuss the economic history of Indonesia, korea, Taiwan, and Japan ( from 1960 to date) and also read about the Japanese miracle
10Review of the development strategies employed by the Asian Tigers, Japan, Europe and America.
lesion for the Nigerian Economy
The teacher leads the students to explain the Japanese miracle,
guide students to differentiate between economic strategies employed by the newly industrialized countries and the country of Europe and America,
lead students to draw lesson from the experience of the newly industrialized countries.
The learners study the economic strategies employed by the newly industrialized countries
and countries of Europe and America, compare the experience of the newly industrialized countries with that of Nigeria and identify the weakness of the Nigeria approach.
11

Summary Of Second Term SS2 Economics Scheme Of Work

As we have provided the summary of behavioral objectives in the first term we here do the same for the second term economics scheme of work, so at the term end students should be able to:
Explain the concept of the market and distinguish it from the marketplace, distinguish between perfect and imperfect markets by being able to identify their features, and draw a graph to illustrate price and quantity determination under Perfect competition, monopoly, oligopoly 

Define public finance and its objectives, discuss the structure of government revenue and public expenditure by illustrating with Nigerian data

Distinguish between direct and indirect taxation. Recurrent and capital expenditure, analyse the effects and incidence of taxes

Explain the concept of budget. Difficult, surplus and balanced budget, explain the components of national debt, explain the concept of and criteria for revenue allocation ( including resources control) in Nigeria and associated problems. 

Explain the meaning of different national income concepts, discuss different ways of measuring national income, explain  the shortcoming of currently used national income concept

Identify the various motive for holding money, explain elementary quantity of money, identify the determinants of the supply of money and explain how the changes in price level affect the purchasing power of money

Identify the different types, the cause and control measures  of inflation, discuss Nigerian inflationary experience and the various control measures adopted by the government

Identify the cause, control, and the effect of deflation

Explain the factors that account for the rapid development of these countries in south East Asia and explain the meaning of japaneze iracle.

Differentiate between the development strategies of Asian Tigers, Japan, Europe and America and identify the lesson for Nigeria

Third-Term SS2 Economics Scheme Of Work

WEEKSTOPIC/CONTENTACTIVITIES
1Human Capital Development
Definition and characteristic of human capital., factors that affect the efficiency of human capital and the distinction between human and physical capital 
The teacher guides students to learn the factors that affect the efficiency of human capital
The learners list the characteristic of human capital and differentiate between human and physical capital
2Human Capital Development
Cont.
Definition, effect and arresting of brain drain on the Nigeria economy 
The teacher ask students if a teacher had left their school for another job abroad
and was not replaced, whether a nurse/ doctor left their community for another job abroad
and was not replace and if yes, help them to recount the experience of the students or the community
3Petroleum And The Nigerian Economy
Definition of petroleum, development of the petroleum industry, the contribution of petroleum to the Nigerian economy ( positive and negative ).
The teacher arrange a class debate on the role of NNPC in the exploration, distribution, and marketing of petroleum products in Nigeria
The students discuss the positive and negative contributions of the petroleum industry to the Nigerian economy
4Petroleum And The Nigerian Economy Cont.
The role of NNPC and OPEC in the exploration The instructor arrange clan debate on the role of NNPC in the exploration
distribution and marketing of petroleum products
The instructor arrange clan debate on the role of NNPC in the exploration distribution
and marketing of petroleum products in Nigeria
in Nigeria
The learner discuss the positive and negative contribution of the petroleum industry to the Nigerian economyproduction, refining, marketing, and distribution of petroleum product
5Manufacturing And Construction
Meaning of manufacturing and construction, types of manufacturing ( craft, food processing, etc.),
contribution of manufacturing and construction sectors to Nigeria’s gross domestic product, the role of manufacturing and construction in economic development
The teacher guide the students to define, and discover the benefit of manufacturing activities to the Nigerian economy,
state the problems encountered by the local firm.
The students define the term manufacturing and discuss the benefit of manufacturing activities to the economy
6Service (Industry)
Definition of service, types of service industries (tourism, transport, banking, insurance, warehousing, advertisement, etc.) and contributions of service industries to the development
The teachers guide the students to discover the importance of tourism and other services industries
in the economy
The learners explain the role which the tourism industry can play in employment generation
7Agencies That Regulates The Financial Market
Regulation of money market, agencies and their tools, regulation of capital markets, agencies, objectives, and tools
The instructor asks the students to mention the regulating agencies they know, organize visits to any of the regulatory agencies ( CBN, NDIC.etc.) 
The students mention the regulatory agencies they know if any and visit any regulatory agency in their locality 
8Agencies That Regulate Financial Market (Cont)
Function and significance of the agencies in the economy
The teacher list the functions and significance of the agencies in the economy
The learners mention the functions and significance of the agencies in the economy
9International Trade
Meaning of international trade, distinguish between domestic and international trade,
reasons for international trade and theory of comparative costs and its shortcoming 
The teacher guides the students to explain the importance of international trade and explain the theory of comparative advantage
The students take note of the basic concepts and theories of international trade
10International Trade
Meaning of international trade-globalization, features, challenges, and opportunities of globalization to the Nigerian economy
The teacher guides the students to explain the opportunities of globalization to the Nigerian economy
The learners take note of the features, challenges, and opportunities of globalization to the Nigerian economy.
11Reveision, Examination and Marking

Summary Of Third-Term SS2 Economics Scheme Of Work

At the end of this third term, the students should be able to define and list the characteristic of human capital, explain the factors that affect the efficiency of human capital, and distinguish clearly  between human and physical capital

define the concept of brain drain, list the effect of brain drain on the Nigeria economy and explain various ways of arresting brain drain

Stress the growth of the petroleum industry in Nigeria, and discuss adequately the Impact (negative/positive) of petroleum on the Nigerian economy

Explain the role of the NNPC and OPEC in the production and marketing of petroleum product

Define manufacturing and construction, list the types of manufacturing activities, list the contribution of manufacturing to economic development list the contribution of the construction company to economic development

Describe economic services, types of economic services and list the role of the service industry in economic development

Identify regulation agencies and the aspect of the market regulated by each

Explain the functions of CBN, NDIC, SEC, etc., and demonstrate knowledge of their evolution

Explain how domestic trade differs from international trade, discuss comparative cost theory, explain the limitation of comparative cost theory

Explain the features of the various forms of economic integration, outline the trend and structures of Nigeria’s external trade 

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