2022/2023 Economics Scheme Of Work For SS1

Economics scheme of work

Myschoolpress in today’s article will post the current economics scheme of work for ss1 for economics teachers to find it easier to teach the students by the approved scheme of work. The scheme of work provided here has been verified and it is suitable for all public and private schools in Nigeria

First Term Economics Scheme Of Work For SS1

1Meaning Of Economics
Definition of economics by four authors. (Adams smith, J . S. Mills, Alfred Marshall,  Lionel Rubin,( Most acceptable definition )),
Economics activities: Production, exchange, distribution, consumption.
Scope of Economics: The difference between wants and needs, Scarcity, Choice, Opportunity, Cost, and Scale of Preference
Form a group of students in the class and discuss how the knowledge of this concept influences our daily activities., A group discussion to relate this concept to the daily activities of individuals, firms, and governments.
2Why We Study Economics
 Basic Economics problems: What to produce, how to produce, for whom to produce & efficient use of resources. Economics is a science, art, or social subject.
The teacher explains what to produce, how to produce, for whom to produce, and efficient use of resources, and why economics is regarded as a science, art, or social subject.
3Basic Tool For Economics Analysis ( Table, Graph & Charts)
Table: definition, use of table, characteristic and importance of tables & charts.
Graph: definition, features importance, and example of a graph.
Display various charts and tables relating to the topic.
Students solve practical problems involved in the calculation.
4Measures Of Central Tendency
Arithmetic means, median, mode, and their simple applications.
The teacher Displays various measures of central tendency
The Learners Solve the practical problem involved.
5Theory Of Production
Meaning, types, importance, and factors of production ( land, labour, capital, and entrepreneur)
A chart of land, labour, and capital shown by the teacher
The students perform the task given to them
6Theory Of Production (Cont)
Factors of production and their reward ( Land, Labour, Capital & Entrepreneur ).
Explain the factor and reward of each of the factors of production.
7Production possibility curve (PPC).
The Law of diminishing returns or variable proportions and Factors determine the volume of production.
The teacher Explain the production possibility curve ( PPC). State the law of diminishing returns and list factors that determine the volume of production.
The students Draw a graph showing the production possibility curve.
8Division Of Labour & Specialization
Meaning, difference, advantages & disadvantages, and limitations.
The learners explain the meaning of division of labour & specialization, state the differences between the division of labour and specialization, and list the advantages & disadvantages of the division of labour. 
The students were grouped to perform different tasks.
9Scale Of Production (Small, Medium & Large).
Meaning, characteristics, Advantages and disadvantages of Internal & external economies of scale.
The learner explains the scale of production ( small, medium & large scale).
The learner shares experiences that relate to the small, medium, and large scale of production.
10Firms And Industry
Meaning of firms, plants, and industry, factors determine the size of a firm, the concept of the total product (TP), marginal product (MP), and average product (AP).
The teacher guides the students to identify different types of firms and industries within our society.
The learners give examples of firms and industries existing within their locality.
WEEK 12 & 13
Revision & Examination.

Summary Of First Term Economics Scheme Of Work For SS1

First Term Economics Scheme Of Work For SS1 is provided with a summary of what the students should know at the end of the first term

So at the term end the students should be able to; Explain the basic concept of economy and ics, and show its relevance to day–to–day human activities and decisions and the government.

Explain what to produce, how to produce, for whom to produce, and efficient use of resources, and why economics is regarded as a science, art, or social subject.

Explains basic economic tools, and state their use and importance, Construct a frequency distribution.

Calculate the mean, median & mode of any given set of data, State the merits & demerits of mean, median & mode.

Explain the concept of production, State the types of production. ( primary, secondary & tertiary), State the importance of factors of production.

State the factors of production, and mention the reward of each of the factors of production.

Explain the production possibility curve (PPC), State the law of diminishing returns or variable proportions and State the factors that determine the volume of production.

Explain the Meaning, differences, advantages & disadvantages, and limitations of the division Of Labour & Specialization

Explain the meaning of scale of production, State the advantages and disadvantages of the scale of production, and Explain internal & external economies of scale.

Define firm, plant, and industry, Explain factors that determine the size of firms, Calculate total product, marginal product, and average product.

Second Term Economics Scheme Of Work For SS1

1Business Organizations
Meaning, types, characteristics, Source of funds, Advantages and disadvantages of Sole proprietorship and partnerships
The teacher vividly describes business organization, and lists the features of a sole proprietorship and partnership.
The students give an example of one man’s business and partnership.
2Co-Operative Societies.
Meaning, characteristics, advantages, and disadvantages of cooperative society
The teacher asks the student if they have ever contributed money together and shared it later.
3Joint Stock Companies
Meaning, characteristics, advantages and disadvantages of private and public liability company.
Contribution of private and public liability companies to the economy, The Meaning of Shares, bonds, debentures, etc.
The teacher guides the students to give examples and identify the difference between public and private companies
4Public Enterprises
Meaning, Features, merit and demerit of public enterprises. Reason for government ownership
The instructors take the student to nearby public enterprises like a railway station
The learner gives an example of public Enterprises, during their visit to any public enterprises within their environment.
Definition and Determination of population size, Population growth ( increasing and ageing) declining population. The implication of size and growth of population.
The teacher guide students to compare the population of different countries
The students State the population of their school, and families, including sex and age distribution.
6Theories of population e.g. Malthusian theory, Demographic transition theory.
Population distributions (sex, age, occupation, geographical distribution).
The instructor guided the students to differentiate between Malthusian and demographic transition theories of population.
7Population Census
Definition, Importance, Problems and use of population Census
The teacher discusses the problem that arises in conducting a population census in Nigeria, and the Present census figures from the national population office.
8Labour Market
Definition and Concept of the labour force, Factors affecting the size of the labour force
The teacher shows the students the chart and Explains the labour market and the concept of the labour force
The learner List the number of male and female students in the class
9The efficiency of labour.
Factors affecting the efficiency of labour, Mobility, Types, demand and supply of labour.
Plot the labour participation rate against the growth rate of the population.
The teacher asks the students to state reasons why people move from rural to urban centres.
10The Nature Of the Nigerian Economy
General overview of the nature and structure of industries in Nigeria; Contribution of the primary secondary and tertiary sectors
Explain the various economic activities of the six geopolitical zones of the country regarding agriculture and mining
Learners were asked to mention the various product produced in different zones of the country

Summary Of Second Term Economics Scheme Of Work For SS1

In this second term, we have provided the summary of the behavioural objective, which means that at the end of the term student should be well taught, and should understand and be able to Define and list the types of business organizations. Explain sole proprietorship and partnership and List the various source of funds available to sole proprietorships and partnerships.

Define, List, and state the features, advantages and disadvantages of cooperative societies.

Explain joint stock companies, explain their characteristics and differentiate between public and private liability companies. Discuss the contribution of private and public liability companies to the economy of Nigeria and explain shares, bonds & debentures.

Explain the meaning of public enterprises, States its characteristics and the reason why government participates in public enterprises, and mention the advantages and disadvantages of public enterprises.

Explain the determination of population size and growth and the implication of the size and growth of the population.

Explain and discuss the Malthusian theory of population and demographic transition theory.

Explain the meaning, State the importance and Identify the problem of population census.

Identify and explain the concept of the labour force and the factors affecting the size of the labour force.

Explain the efficiency of labour and factors affecting the efficiency of labour, Explain the mobility of labour and discuss the demand and supply of labour.

Explain the nature and structure of the Nigerian economy, Identify and explain the relative contribution of various sectors of the economy

Third Term Economics Scheme Of Work For SS1

Definition of agriculture
Component of agriculture
( crop production, livestock, forestry, fishing. System of agriculture ( peasant farming, plantation mechanized, cooperative, commercial.
Importance of agriculture to the Nigerian economy.
Problems of agriculture and remedies/solution.
Explain the meaning of agriculture, the various component, system and the importance of agriculture.
Encourage students to visit farms in the locality and be asked to discuss the system of agriculture that is prevalent there.
( Operation Feed the Nation OFN, RBDA –River basin development authority etc
The learners List major agricultural products produced in their localities and distinguish between cash crops and food crops.
Participate actively in farm work at school and home.
Marketing of agriculture products ( Marketing board)
Meaning, function and problem of the marketing board.
Explain the function, processes and challenges of marketing both food and cash crops in  Nigeria.
State and explain the reason for low agricultural productivity in Nigeria and how to overcome them.
Meaning, the types of mineral resources found in Nigeria and their uses.
Location and importance of minerals to the Nigerian economy. The problem facing mining of minerals in Nigeria
organize a visit to mining or quarry sites in the locality display a map showing the location of mineral deposits in Nigeria. Mention names of different minerals that can be found in Nigeria.
definition, the historical development of money, (trade by barter).
Function, characteristic, and types including credit cards, value cards, and other ICT, guided payment instruments
The teacher leads students to discover the benefit of a cashless economy over a money and barter economy.
The students identify money instruments and items used in barter exchange.
5Distributive Trade
Channels of distribution, manufacturer, wholesaler, retailer, consumer and their function.
Role of government agencies in product distribution, identify the problems of distribution.
The instructor introduces the various channels of distribution and their roles and explains the problem and solution of distribution in Nigeria.
The learners identify wholesale trade and retail trade within their locality.
6Financial Institution
definition, types, ( traditional, central bank,  commercial bank, development – bank, mortgage bank, merchant bank, insurance company, building societies), money and capital market and its benefit
The teacher organises an excursion to a commercial bank, development bank, and stock exchange within their locality
Learners should give names of commercial banks, development banks, and stock firms within their locality.
7Instrument Of Business Finance
Source of funds for business, a basic instrument for business financing ( shares, debentures, and bonds)
Meaning and types of shares, debentures and other securities, problems of business finance in Nigeria
The instructor guide students to suggest various ways of financing business.
The students identify different ways money can be raised to start a business
8Industries In Nigeria
Definition of industrial concept. (Plant, factory, firm, industry and industrial estate.
location and localization of industry in Nigeria
The instructor arranges excursions to local factories, construction companies, mining sites and industrial estates where possible.
The learner’s state reasons for sitting certain factors in their neighbourhood where they are sited and list some advantages derivable from having firms of the same industry close to one another.
9Types of the financial institution and their functions:- money market institutions, capital market institutions and other agencies that can access the capital market.The instructor emphasises the importance of ajo/Jesus/asusu.
The students visit the central bank / commercial bank.
10Financial Institutions
How the stock exchange operates, secondary and primary markets.
Explain the peculiar problem of each type of financial institution.
Excursion to the stock exchange market where possible.
11-13Revision and exam

Summary Of Third Term Economics Scheme Of Work For SS1

At the end of this third term, students should be able to state and define the main component of agriculture, explain the main features of various systems of agriculture and state the importance, problem and solution to agriculture in Nigeria.

Define marketing boards, and explain the function, processes and challenges of marketing both food and cash crops in Nigeria.

Explain the meaning of mining, state the types of minerals found in Nigeria and their uses, identify the location of minerals deposited in Nigeria and identify the various component of the Nigerian mining industry. 

Explain the meaning of money., compare a money economy with a barter economy, identify the various types of money and explain the function of money in a modern economy, and explain the characteristic of money.

Describe the channels of distribution from the producer to the final consumer, state the function of wholesalers, and retailers, in the channels of distribution, state and explain the role of cooperative society and government agencies in product distribution, identify the problem of distribution and ways of improvement.

Explain the term financial institution, list the different types of banking and non-banking financial institutions, explain the function of each institution and indicate its importance

Identify and explain the instrument of business finance, list types of shares, debentures, and other securities and explain the problem of business finance in Nigeria.

Distinguish among the following concepts: plant, factory, firm, industry, and industrial estate, explain the factors that influence the location of industries and explain the advantages and disadvantages of localization of industry.

Define money and capital markets, identify the types and functions of the institution, explain the types and features of securities, and explain the process of and requirements for accessing the capital market.

List the benefit of the capital market, demonstrate the understanding of the meaning, transaction and trading method in the secondary market

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