SCHEME OF WORK
WEEK TOPICS
1 Revision: Works on Agriculture, Definition and types of market.
2 Market structure.
3 Monopoly
4 Industrialization.
5 Localisation of industry.
6 Financial institutions.
7 Central Bank
8 Mortgage Bank
9 Stock Exchange
10 Inflation
11 Revision
3RD TERM
WEEK 1
TOPIC: Further Works on Agriculture
REFERENCE BOOKS
1. Essential Economic for S.S.S by C.E. Ande
2. Fundamentals of Economic for S.S.S by R.A.I Anyanwuocha.
3. Summary of points in Economics for West African S.S.S by J.O.C Ezeobi
SUB-TOPIC: Agricultural Policies in West Africa
BEHAVIOURAL OBJECTIVES: At the end of the lesson, students should be able to
I. Identify the various policies that have been put in place in order to boost agricultural production
II. Identify how agricultural commodities are marketed.
CONTENT
Several agricultural policies have been put in place by different governments in the country to improve or boost its production. Such policies and programmes includes:
1. Operation Feed the Nation (OFN) 1976
2. Green Revolution(1980)
3. Operation back to land
4. Accelerated Food Project
5. The Land Use Decree
6. River Basin Development Authority
7. The Commodity Boards.
EVALUATION
1. List 6 agricultural policies or programmes that have been put in place by various governments in the country in order to boost food production.
2. Explain the reasons for their establishment
ASSIGNMENT: Write on the prospects of agriculture in West Africa
SUBTOPIC: Problems of Distribution of Commodities in West Africa
BEHAVIOURAL OBJECTIVE: At the end of the lesson, the students should be to identify the problems hindering effective distribution of commodities in West Africa.
CONTENT
1. Inadequate storage
2. Packaging problems
3. Hoarding and speculation
4. Long chain & distribution
5. Inadequate infrastructural facilities
6. Insecurity on roads
7. Inadequate transport system
8. Administrative bottle necks in the collection and handling of goods.
9. Inadequate information
EVALUATION
List and explain the various problems faced in the distribution of commodities in West Africa
ASSIGNMENT: Write short notes on the prospects of agriculture in West
REFERENCE BOOKS
1. Essential Economic for S.S.S by C.E. Ande
2. Fundamentals of Economic for S.S.S by R.A.I Anyanwuocha.
3. Summary of points in Economics for West African S.S.S by J.O.C Ezeobi
SUB-TOPIC: Agricultural Policies in West Africa
BEHAVIOURAL OBJECTIVES: At the end of the lesson, students should be able to
I. Identify the various policies that have been put in place in order to boost agricultural production
II. Identify how agricultural commodities are marketed.
CONTENT
Several agricultural policies have been put in place by different governments in the country to improve or boost its production. Such policies and programmes includes:
1. Operation Feed the Nation (OFN) 1976
2. Green Revolution(1980)
3. Operation back to land
4. Accelerated Food Project
5. The Land Use Decree
6. River Basin Development Authority
7. The Commodity Boards.
EVALUATION
1. List 6 agricultural policies or programmes that have been put in place by various governments in the country in order to boost food production.
2. Explain the reasons for their establishment
ASSIGNMENT: Write on the prospects of agriculture in West Africa
SUBTOPIC: Problems of Distribution of Commodities in West Africa
BEHAVIOURAL OBJECTIVE: At the end of the lesson, the students should be to identify the problems hindering effective distribution of commodities in West Africa.
CONTENT
1. Inadequate storage
2. Packaging problems
3. Hoarding and speculation
4. Long chain & distribution
5. Inadequate infrastructural facilities
6. Insecurity on roads
7. Inadequate transport system
8. Administrative bottle necks in the collection and handling of goods.
9. Inadequate information
EVALUATION
List and explain the various problems faced in the distribution of commodities in West Africa
ASSIGNMENT: Write short notes on the prospects of agriculture in West
WEEK 2
TOPIC: Industrialization
REFERENCE BOOKS
1. Essential Economic for S.S.S by C.E. Ande
2. Fundamentals of Economic for S.S.S by R.A.I Anyanwuocha.
3. Summary of points in Economics for West African S.S.S by J.O.C Ezeobi
SUBTOPIC: Definition of Industrialization, the types and the various stages of industrialization
BEHAVIOURAL OBJECTIVE: By the end of the lesson, the students should be able to:
a. Define the term industrialization
b. List and explain the types and identify the stages of industrialization.
CONTENT ELEMENT:
Industrialization may be defined as the process which increases the volume of production in industrial activities such as manufacturing, construction etc
Types of Industries
1. Manufacturing
2. Electricity
3. Construction
4. Mining
5. Transport
6. Banking etc
EVALUATION
1. Explain the term industrialization
2. List and explain the types of industrialization
3. List and explain the stages if industrialization
ASSIGNMENT: Define location of industry and explain the factors that affect the location of an industry.
SUBTOPIC: Location of Industries
BEHAVIOURAL OBJECTIVES: By the end of the lesson, the students should be able to:
a. Define location of industries
b. List and explain the factors to be considered when locating industries.
CONTENT
Location of industry may be defined as the sitting or establishment of a firm or industry in a particular area. An industry may be located either by individuals or government for economic or political reasons.
Factor that Influence the location of an Industry.
1. Proximity to source of raw materials
2. Nearness to market
3. Availability of capitals
4. Adequate transport
5. Political stability
6. Favourable climate
7. The location of other firms etc.
EVALUATION
1. Explain location of an industry
2. List and explain the factors to be considered before locating an industry
ASSIGNMENT: Write short notes on the reasons why government participates in the location of industries in Nigeria.
REFERENCE BOOKS
1. Essential Economic for S.S.S by C.E. Ande
2. Fundamentals of Economic for S.S.S by R.A.I Anyanwuocha.
3. Summary of points in Economics for West African S.S.S by J.O.C Ezeobi
SUBTOPIC: Definition of Industrialization, the types and the various stages of industrialization
BEHAVIOURAL OBJECTIVE: By the end of the lesson, the students should be able to:
a. Define the term industrialization
b. List and explain the types and identify the stages of industrialization.
CONTENT ELEMENT:
Industrialization may be defined as the process which increases the volume of production in industrial activities such as manufacturing, construction etc
Types of Industries
1. Manufacturing
2. Electricity
3. Construction
4. Mining
5. Transport
6. Banking etc
EVALUATION
1. Explain the term industrialization
2. List and explain the types of industrialization
3. List and explain the stages if industrialization
ASSIGNMENT: Define location of industry and explain the factors that affect the location of an industry.
SUBTOPIC: Location of Industries
BEHAVIOURAL OBJECTIVES: By the end of the lesson, the students should be able to:
a. Define location of industries
b. List and explain the factors to be considered when locating industries.
CONTENT
Location of industry may be defined as the sitting or establishment of a firm or industry in a particular area. An industry may be located either by individuals or government for economic or political reasons.
Factor that Influence the location of an Industry.
1. Proximity to source of raw materials
2. Nearness to market
3. Availability of capitals
4. Adequate transport
5. Political stability
6. Favourable climate
7. The location of other firms etc.
EVALUATION
1. Explain location of an industry
2. List and explain the factors to be considered before locating an industry
ASSIGNMENT: Write short notes on the reasons why government participates in the location of industries in Nigeria.
WEEK 3
TOPIC: Localization of Industries, Advantages and Disadvantages and Strategies for Industrialization
REFERENCE BOOKS
1. Fundamentals of Economics for S.S.S by R.A.I Anyanwuocha
2. Essential Economics for S.S.S. by C.E. Ande
3. Summary of points in Economics for West African S.S.S by J.O.C Ezeobi
SUBTOPIC: Localization of Industrialization Advantages and Disadvantages
BEHAVIOURAL OBJECTIVES: At the end of the lesson, students should be able to define and explain
a. Localization of industries and factors
b. List and explain the advantages
c. Explain the disadvantages
CONTENT ELEMENT
Localization of industries simply means the concentration of industries or firms producing similar products in a particular area.
Factors that Affect localization of Industries
a. Access to raw materials
b. Availability of marketing facilities
c. Joint research and training centre
d. Government policies
e. Availability of labour etc
Advantages of Localization of industries
a. It encourages development
b. Emergence of employment
c. Generation of employment
d. Emergence of organized market
e. Creation of competition
f. Attraction of more people, etc
EVALUATION
a. Define the term localization of industries
b. List and explain the factors that affect them
c. State the advantages of localization of industries
ASSIGNMENT: Write short notes on the disadvantages of localization of industries
SUBTOPIC: The Role of Industrialization in Economic Development of A Nation
BEHAVIOURAL OBJECTIVE: By the end of the lesson, the students should be able to list and explain the role of industrialization in economic development of a nation.
CONTENT ELEMENT
Industrialization or the industrial sector contributes greatly to the economic development of nature in the following ways.
EVALUATION: List and explain the importance of industrialization to a country
ASSIGNMENT: Write short notes on the strategies of localization of industries
REFERENCE BOOKS
1. Fundamentals of Economics for S.S.S by R.A.I Anyanwuocha
2. Essential Economics for S.S.S. by C.E. Ande
3. Summary of points in Economics for West African S.S.S by J.O.C Ezeobi
SUBTOPIC: Localization of Industrialization Advantages and Disadvantages
BEHAVIOURAL OBJECTIVES: At the end of the lesson, students should be able to define and explain
a. Localization of industries and factors
b. List and explain the advantages
c. Explain the disadvantages
CONTENT ELEMENT
Localization of industries simply means the concentration of industries or firms producing similar products in a particular area.
Factors that Affect localization of Industries
a. Access to raw materials
b. Availability of marketing facilities
c. Joint research and training centre
d. Government policies
e. Availability of labour etc
Advantages of Localization of industries
a. It encourages development
b. Emergence of employment
c. Generation of employment
d. Emergence of organized market
e. Creation of competition
f. Attraction of more people, etc
EVALUATION
a. Define the term localization of industries
b. List and explain the factors that affect them
c. State the advantages of localization of industries
ASSIGNMENT: Write short notes on the disadvantages of localization of industries
SUBTOPIC: The Role of Industrialization in Economic Development of A Nation
BEHAVIOURAL OBJECTIVE: By the end of the lesson, the students should be able to list and explain the role of industrialization in economic development of a nation.
CONTENT ELEMENT
Industrialization or the industrial sector contributes greatly to the economic development of nature in the following ways.
EVALUATION: List and explain the importance of industrialization to a country
ASSIGNMENT: Write short notes on the strategies of localization of industries
WEEK 4
TOPIC: Introduction to Banking (The Commercial Banks)
REFERENCE BOOKS
1. Fundamentals of Economics for S.S.S by R.A.I Anyanwuocha
2. Essential Economics for S.S.S. by C.E. Ande
3. Summary of points in Economics for West African S.S.S by J.O.C Ezeobi
SUBTOPIC: Introduction to Banking (The commercial Banks)
BEHAVIOURAL OBJECTIVES: At the end of the lesson, the students should be able to:
a. Explain how banking originated in Nigeria.
b. Explain the types of banks and the problems associated with indigenous commercial banks
c. List and explain the functions of commercial banks.
CONTENT ELEMENT
Commercial Banking originated through the activities of the goldsmith this who had facilities such as safes for the safe-keeping of valuables. Merchants and other people who had precious metals such as (gold and silver) which were used as money) deposited them with the goldsmiths. At first, they charged the traders and other depositors some fees for performing this function for them. In exchange for the valuable deposited, the goldsmith issued receipt for the things deposited. The receipts were to be presented should the depositor wanted to collect their items. The depositors found out that they could use the receipts to purchase other items. The receipt later became means of payment.
EVALUATION
a. briefly explain or narrate how banking came into existence
b. List the types of commercial banks
c. Explain the problems of indigenous banking
ASSIGNMENT: Write on the various functions of commercials banks
SUBTOPIC: Assets & Liabilities of Commercial banks
BEHAVIOURAL OBJECTIVE: At the end of the lesson, the students should be able to:
a. Differentiate between the assets and liabilities of commercial banks
b. Calculate how commercial banks create money.
CONTENT ELEMENT
The assets of a commercial bank may be defined as the productive property of a business. They include:
a. cash in the tills of the bank and deposits with the central bank.
b. Money at call or lent for a short term
c. Treasury bills
d. Loans and advances etc
Liabilities of commercial banks
a. Capital provided by shareholders
b. Deposits kept in the bank by customers
c. Reserves - undistributed profits
How Commercial Banks Create Money
Commercial banks create money by: M = D ( )
I. Giving direct loans to people and organizations
II. Granting overdrafts to customers with current account
III. Purchasing treasury bills from the government and
IV. Discountry bills of exchange
EVALUATION
a. List and explain the assets and liabilities of the commercial banks
b. List and explain the various ways by which commercial banks get money.
ASSIGNMENT: Narrate the origin of the central bank
REFERENCE BOOKS
1. Fundamentals of Economics for S.S.S by R.A.I Anyanwuocha
2. Essential Economics for S.S.S. by C.E. Ande
3. Summary of points in Economics for West African S.S.S by J.O.C Ezeobi
SUBTOPIC: Introduction to Banking (The commercial Banks)
BEHAVIOURAL OBJECTIVES: At the end of the lesson, the students should be able to:
a. Explain how banking originated in Nigeria.
b. Explain the types of banks and the problems associated with indigenous commercial banks
c. List and explain the functions of commercial banks.
CONTENT ELEMENT
Commercial Banking originated through the activities of the goldsmith this who had facilities such as safes for the safe-keeping of valuables. Merchants and other people who had precious metals such as (gold and silver) which were used as money) deposited them with the goldsmiths. At first, they charged the traders and other depositors some fees for performing this function for them. In exchange for the valuable deposited, the goldsmith issued receipt for the things deposited. The receipts were to be presented should the depositor wanted to collect their items. The depositors found out that they could use the receipts to purchase other items. The receipt later became means of payment.
EVALUATION
a. briefly explain or narrate how banking came into existence
b. List the types of commercial banks
c. Explain the problems of indigenous banking
ASSIGNMENT: Write on the various functions of commercials banks
SUBTOPIC: Assets & Liabilities of Commercial banks
BEHAVIOURAL OBJECTIVE: At the end of the lesson, the students should be able to:
a. Differentiate between the assets and liabilities of commercial banks
b. Calculate how commercial banks create money.
CONTENT ELEMENT
The assets of a commercial bank may be defined as the productive property of a business. They include:
a. cash in the tills of the bank and deposits with the central bank.
b. Money at call or lent for a short term
c. Treasury bills
d. Loans and advances etc
Liabilities of commercial banks
a. Capital provided by shareholders
b. Deposits kept in the bank by customers
c. Reserves - undistributed profits
How Commercial Banks Create Money
Commercial banks create money by: M = D ( )
I. Giving direct loans to people and organizations
II. Granting overdrafts to customers with current account
III. Purchasing treasury bills from the government and
IV. Discountry bills of exchange
EVALUATION
a. List and explain the assets and liabilities of the commercial banks
b. List and explain the various ways by which commercial banks get money.
ASSIGNMENT: Narrate the origin of the central bank
WEEK 5
TOPIC: The Central Bank
REFERENCE BOOKS
1. Fundamentals of Economics for S.S.S by R.A.I Anyanwuocha
2. Essential Economics for S.S.S. by C.E. Ande
3. Summary of points in Economics for West African S.S.S by J.O.C Ezeobi
SUBTOPIC: Origin of the Central Bank; It Definition and Functions
BEHAVIOURAL OBJECTIVES: At the end of the lesson, the students should be able to:
a. Explain how the central bank came into existence.
b. Define the meaning of the central bank
c. List and explain the functions of the central bank
CONTENT ELEMENT
Origin:
Before the establishment of the central banks in the English-speaking countries of West Africa, the West African currency Board operated in these countries. It was established by the British Colonial government in 1912 to serve the four British territories of Nigeria, Gold coast (Ghana, Sierra Leone and Gambia. The head office was in London.
Definition
The Central Bank of a country is usually a government owned bank which helps to control and supervise the entire monetary and financial system of a country. Being a financial organ of the government of a country, it carries out the major financial operations of the government
Functions of the Central Bank
a. It acts as banker's bank
b. It has the sole right to issue net new currencies
c. It also acts as lender of last resort
d. It is the bankers financial adviser
e. It furthermore controls and prevents bank's crisis
f. Maintenance of Monetary stability
g. It promotes economic growth and it also carries out external business for the country.
EVALUATION
a. State the origin of the central bank
b. List and explain the functions of the central bank
ASSIGNMENT: Explain three different ways by which central bank controls the activities of the commercial banks
SUBTOPIC: Control of the Central Bank on the Commercial Banks
BEHAVIOURAL OBJECTIVES: By the end of the lesson, the students should be able to explain the other ways by which the commercial banks are controlled by the central bank.
CONTENT ELEMENT
The Central Bank of Nigeria as the country's apex bank controls the activities of other financial institutions in the following ways
a. Open market operations (OMO)
b. Use of bank rate
c. Cash deposit ratio
d. Use of directives and moral suasion.
e. Use of special deposits
f. Finding and
g. Fiscal policy
EVALUATION
List and explain the various ways by which the Central bank controls other financial institutions especially the commercial banks.
ASSIGNMENT: Define the term merchant banks and their features
_______________
REFERENCE BOOKS
1. Fundamentals of Economics for S.S.S by R.A.I Anyanwuocha
2. Essential Economics for S.S.S. by C.E. Ande
3. Summary of points in Economics for West African S.S.S by J.O.C Ezeobi
SUBTOPIC: Origin of the Central Bank; It Definition and Functions
BEHAVIOURAL OBJECTIVES: At the end of the lesson, the students should be able to:
a. Explain how the central bank came into existence.
b. Define the meaning of the central bank
c. List and explain the functions of the central bank
CONTENT ELEMENT
Origin:
Before the establishment of the central banks in the English-speaking countries of West Africa, the West African currency Board operated in these countries. It was established by the British Colonial government in 1912 to serve the four British territories of Nigeria, Gold coast (Ghana, Sierra Leone and Gambia. The head office was in London.
Definition
The Central Bank of a country is usually a government owned bank which helps to control and supervise the entire monetary and financial system of a country. Being a financial organ of the government of a country, it carries out the major financial operations of the government
Functions of the Central Bank
a. It acts as banker's bank
b. It has the sole right to issue net new currencies
c. It also acts as lender of last resort
d. It is the bankers financial adviser
e. It furthermore controls and prevents bank's crisis
f. Maintenance of Monetary stability
g. It promotes economic growth and it also carries out external business for the country.
EVALUATION
a. State the origin of the central bank
b. List and explain the functions of the central bank
ASSIGNMENT: Explain three different ways by which central bank controls the activities of the commercial banks
SUBTOPIC: Control of the Central Bank on the Commercial Banks
BEHAVIOURAL OBJECTIVES: By the end of the lesson, the students should be able to explain the other ways by which the commercial banks are controlled by the central bank.
CONTENT ELEMENT
The Central Bank of Nigeria as the country's apex bank controls the activities of other financial institutions in the following ways
a. Open market operations (OMO)
b. Use of bank rate
c. Cash deposit ratio
d. Use of directives and moral suasion.
e. Use of special deposits
f. Finding and
g. Fiscal policy
EVALUATION
List and explain the various ways by which the Central bank controls other financial institutions especially the commercial banks.
ASSIGNMENT: Define the term merchant banks and their features
_______________
WEEK 6
TOPIC: Merchant Banks: Origin, definition & features & functions
REFERENCE BOOKS
1. Fundamentals of Economics for S.S.S by R.A.I Anyanwuocha
2. Essential Economics for S.S.S. by C.E. Ande
3. Summary of points in Economics for West African S.S.S by J.O.C Ezeobi
SUBTOPIC: Origin, Definition, Features and Functions of Merchant
BEHAVIOURAL OBJECTIVES: By the end of the lesson, the students should be able to;
a. Explain the origin of merchant banks
b. Give the definition
c. State the features and
d. List and explain the functions
CONTENT ELEMENT
Origin: the first merchant bank in Nigeria was the Nigerian Acceptance Limited (NAL) established in 1966. There are others merchant banks in Nigeria today. They include ABC Merchant Bank, Merchant Baking Corporation, Merchant Bank for Africa. First City Merchant Bank, Intercontinental Merchant Bank, Ivory Merchant Banks, etc.
EVALUATION
a. Say a brief history of the merchant banks
b. List and explain the functions of the merchant banks
ASSIGNMENT: Define the term development banks
_______________
REFERENCE BOOKS
1. Fundamentals of Economics for S.S.S by R.A.I Anyanwuocha
2. Essential Economics for S.S.S. by C.E. Ande
3. Summary of points in Economics for West African S.S.S by J.O.C Ezeobi
SUBTOPIC: Origin, Definition, Features and Functions of Merchant
BEHAVIOURAL OBJECTIVES: By the end of the lesson, the students should be able to;
a. Explain the origin of merchant banks
b. Give the definition
c. State the features and
d. List and explain the functions
CONTENT ELEMENT
Origin: the first merchant bank in Nigeria was the Nigerian Acceptance Limited (NAL) established in 1966. There are others merchant banks in Nigeria today. They include ABC Merchant Bank, Merchant Baking Corporation, Merchant Bank for Africa. First City Merchant Bank, Intercontinental Merchant Bank, Ivory Merchant Banks, etc.
EVALUATION
a. Say a brief history of the merchant banks
b. List and explain the functions of the merchant banks
ASSIGNMENT: Define the term development banks
_______________
WEEK 7
TOPIC: Development Banks: Origin, definition & features & functions
REFERENCE BOOKS
1. Fundamentals of Economics for S.S.S by R.A.I Anyanwuocha
2. Essential Economics for S.S.S. by C.E. Ande
3. Summary of points in Economics for West African S.S.S by J.O.C Ezeobi
SUBTOPIC: Definition and functions of development banks
BEHAVIOURAL OBJECTIVES: By the end of the lesson, the students should be able to:
a. Give the definition of development banks and
b. List and explain their functions
CONTENT ELEMENT
Definition: Development banks are specialized financial institutions which provide long term loans to other enterprises for projects in areas like agriculture, commerce and industry. Examples are: Nigeria Industrial Development Bank(NIDB), Development Bank for Nigeria, Nigeria Bank for Commerce and Industry, etc.
Functions
a. Provision of fund for capital projects
b. Manpower development
c. Implementation of government policy
d. Render special advice
e. They underwrite security
f. They also undertake research &
g. Supervision of development project
EVALUATION
a. Give a precise definition to development banks
b. List and explain their functions
ASSIGNMENT: Differentiate between merchant and development banks
SUBTOPIC: Mortgage Banks
BEHAVIOURAL OBJECTIVES: By the end of the lesson, the students should be able to:
a. Define mortgage banks
b. List and explain their functions
CONTENT ELEMENT
Mortgage banks are some other specialized financial institutions which give out loans to individuals and corporate bodies for building purposes. Such loans are repaid in installmental basis and can be spread over a long period of time. Examples are the Federal Mortgage Bank of Nigeria which supervises other mortgage institution like the union homes and savings Ltd, AG Homes and Savings Ltd, etc.
Functions
a. Acceptance of deposit
b. Provision of long term loan
c. Development of mortgage institutions
d. Give advance on housing matters
e. Provision of houses.
EVALUATION
a. Define the term mortgage banks
b. List and explain their functions
ASSIGNMENT:
a. Define the term insurance companies
b. List and explain their functions
_______________
REFERENCE BOOKS
1. Fundamentals of Economics for S.S.S by R.A.I Anyanwuocha
2. Essential Economics for S.S.S. by C.E. Ande
3. Summary of points in Economics for West African S.S.S by J.O.C Ezeobi
SUBTOPIC: Definition and functions of development banks
BEHAVIOURAL OBJECTIVES: By the end of the lesson, the students should be able to:
a. Give the definition of development banks and
b. List and explain their functions
CONTENT ELEMENT
Definition: Development banks are specialized financial institutions which provide long term loans to other enterprises for projects in areas like agriculture, commerce and industry. Examples are: Nigeria Industrial Development Bank(NIDB), Development Bank for Nigeria, Nigeria Bank for Commerce and Industry, etc.
Functions
a. Provision of fund for capital projects
b. Manpower development
c. Implementation of government policy
d. Render special advice
e. They underwrite security
f. They also undertake research &
g. Supervision of development project
EVALUATION
a. Give a precise definition to development banks
b. List and explain their functions
ASSIGNMENT: Differentiate between merchant and development banks
SUBTOPIC: Mortgage Banks
BEHAVIOURAL OBJECTIVES: By the end of the lesson, the students should be able to:
a. Define mortgage banks
b. List and explain their functions
CONTENT ELEMENT
Mortgage banks are some other specialized financial institutions which give out loans to individuals and corporate bodies for building purposes. Such loans are repaid in installmental basis and can be spread over a long period of time. Examples are the Federal Mortgage Bank of Nigeria which supervises other mortgage institution like the union homes and savings Ltd, AG Homes and Savings Ltd, etc.
Functions
a. Acceptance of deposit
b. Provision of long term loan
c. Development of mortgage institutions
d. Give advance on housing matters
e. Provision of houses.
EVALUATION
a. Define the term mortgage banks
b. List and explain their functions
ASSIGNMENT:
a. Define the term insurance companies
b. List and explain their functions
_______________
WEEK 8
TOPIC: Inflation
REFERENCE BOOKS
1. Fundamentals of Economics for S.S.S by R.A.I Anyanwuocha
2. Essential Economics for S.S.S. by C.E. Ande
3. Summary of points in Economics for West African S.S.S by J.O.C Ezeobi
SUBTOPIC: Definition of Inflation, types and causes
BEHAVIOURAL OBJECTIVES: By the end of the lesson, the students should be able to:
a. Define the term inflation
b. List and explain its causes and
c. State its causes.
CONTENT ELEMENT
Definition
Inflation may be defined as a continuous rise in the prices of goods and services as a result of large volume of money in circulation or a persistent rise in the prices of goods and services without a corresponding rise in production.
Types of Inflation
1. Ordinary inflation
2. Persistent inflation
Types of persistent inflation
1. Demand pull persistent inflation
2. Cost pull
3. Galloping of hyper-inflation
Causes:
1. When demand exceeds supply
2. Decrease in production
3. War
4. Increase in cost of production
5. Hoarding
6. Over population
7. Poor weather
8. Monopoly
9. Poor storage facilities
10. Deficit budget
11. Increase in wages
12. Natural disaster
13. General individual strike
14. Reduction of imports.
EVALUATION
a. Define the term inflation
b. List and explain the types of persistent inflation
c. Explain the causes of inflation
ASSIGNMENT: Write short note on how inflation can be controlled.
SUBTOPIC: Effects of Inflation
BEHAVIOURAL OBJECTIVE: At the end of the lesson, the students should be able to list and explain the effects of inflation in a country.
CONTENT ELEMENT
1. High profit
2. Reduction in the value of money
3. Fixed income earners will suffer
4. Fall in standard of living
5. Debtors will gain
6. Creditors will lose
7. Escalation of hunger
8. It discourage saving
9. It causes deficit balance of payments
10. It also discourages investment
11. Consumers in general will suffer
EVALUATION
List and explain the economic effects of inflation in an economy.
ASSIGNMENT
a. What is inflation
b. List and explain its causes
REFERENCE BOOKS
1. Fundamentals of Economics for S.S.S by R.A.I Anyanwuocha
2. Essential Economics for S.S.S. by C.E. Ande
3. Summary of points in Economics for West African S.S.S by J.O.C Ezeobi
SUBTOPIC: Definition of Inflation, types and causes
BEHAVIOURAL OBJECTIVES: By the end of the lesson, the students should be able to:
a. Define the term inflation
b. List and explain its causes and
c. State its causes.
CONTENT ELEMENT
Definition
Inflation may be defined as a continuous rise in the prices of goods and services as a result of large volume of money in circulation or a persistent rise in the prices of goods and services without a corresponding rise in production.
Types of Inflation
1. Ordinary inflation
2. Persistent inflation
Types of persistent inflation
1. Demand pull persistent inflation
2. Cost pull
3. Galloping of hyper-inflation
Causes:
1. When demand exceeds supply
2. Decrease in production
3. War
4. Increase in cost of production
5. Hoarding
6. Over population
7. Poor weather
8. Monopoly
9. Poor storage facilities
10. Deficit budget
11. Increase in wages
12. Natural disaster
13. General individual strike
14. Reduction of imports.
EVALUATION
a. Define the term inflation
b. List and explain the types of persistent inflation
c. Explain the causes of inflation
ASSIGNMENT: Write short note on how inflation can be controlled.
SUBTOPIC: Effects of Inflation
BEHAVIOURAL OBJECTIVE: At the end of the lesson, the students should be able to list and explain the effects of inflation in a country.
CONTENT ELEMENT
1. High profit
2. Reduction in the value of money
3. Fixed income earners will suffer
4. Fall in standard of living
5. Debtors will gain
6. Creditors will lose
7. Escalation of hunger
8. It discourage saving
9. It causes deficit balance of payments
10. It also discourages investment
11. Consumers in general will suffer
EVALUATION
List and explain the economic effects of inflation in an economy.
ASSIGNMENT
a. What is inflation
b. List and explain its causes
WEEK 9
TOPIC: Inflation continues
REFERENCE BOOKS
1. Fundamentals of Economics for S.S.S by R.A.I Anyanwuocha
2. Essential Economics for S.S.S. by C.E. Ande
3. Summary of points in Economics for West African S.S.S by J.O.C Ezeobi
CONTENT ELEMENT: Inflation can be controlled through the various ways or means.
a. Use of contractionary monetary measures
b. Use of fiscal measures
c. Effective price control system
d. Reduction in government expenditure or surplus budget
e. Industrialization
f. Granting of subsidiary to enterprise
g. Removal of bottlenecks
h. Use of income policies
i. Discouragement of importation
j. Increased production
k. Checking the activities of hoarders
EVALUATION
List and explain the various ways by which inflation can be controlled.
ASSIGNMENT
a. What is deflation
b. List and explain its causes
Subtopic: Deflation
BEHAVIOURAL OBJECTIVES: By the end of the lessom, the students should be able to:
a. Define deflation
b. List and explain its causes
CONTENT ELEMENT
Deflation may be defined as a continuous fall in the prices of goods and services as a result of decrease in the volume of money in circulation. Since prices fall, the value of money rises during inflation.
Causes of Deflation
1. Budget surplus.
2. Increase in bank rate
3. Increase in production
4. Increase in taxation
Effect of Deflation
a. Decline in profits
b. It result in unemployment
c. Prices of goods fall
d. Reduction in investment
e. Creditors gain
f. It also encourages export
g. Fixed income earners gain, etc
EVALUATION
a. Define the term "deflation"
b. List and explain the causes
c. Say or speak on some of its economic effects
REFERENCE BOOKS
1. Fundamentals of Economics for S.S.S by R.A.I Anyanwuocha
2. Essential Economics for S.S.S. by C.E. Ande
3. Summary of points in Economics for West African S.S.S by J.O.C Ezeobi
CONTENT ELEMENT: Inflation can be controlled through the various ways or means.
a. Use of contractionary monetary measures
b. Use of fiscal measures
c. Effective price control system
d. Reduction in government expenditure or surplus budget
e. Industrialization
f. Granting of subsidiary to enterprise
g. Removal of bottlenecks
h. Use of income policies
i. Discouragement of importation
j. Increased production
k. Checking the activities of hoarders
EVALUATION
List and explain the various ways by which inflation can be controlled.
ASSIGNMENT
a. What is deflation
b. List and explain its causes
Subtopic: Deflation
BEHAVIOURAL OBJECTIVES: By the end of the lessom, the students should be able to:
a. Define deflation
b. List and explain its causes
CONTENT ELEMENT
Deflation may be defined as a continuous fall in the prices of goods and services as a result of decrease in the volume of money in circulation. Since prices fall, the value of money rises during inflation.
Causes of Deflation
1. Budget surplus.
2. Increase in bank rate
3. Increase in production
4. Increase in taxation
Effect of Deflation
a. Decline in profits
b. It result in unemployment
c. Prices of goods fall
d. Reduction in investment
e. Creditors gain
f. It also encourages export
g. Fixed income earners gain, etc
EVALUATION
a. Define the term "deflation"
b. List and explain the causes
c. Say or speak on some of its economic effects
