Pen-Write E-Library - Private

SCHEME OF WORK
WEEK:
1. Revision
Structure of Nigeria`s external trade
2. Economic growth and development
Definition of Economic growth and its characteristics
Definition of Economic development and its characteristics
Distinction between economic growth and economic development
3. Under Development
Meaning of under development
Characteristics of under development
Causes of under development
Solution to under development
Strategies for economic development
4. Economic Development Plan
Meaning and reasons for planning
Types of plan
Problems of planning
5. Nigeria`s Planning Experience
The first National development Plan- (1962-1968)
The second National Development Plan-(1970-1974)
The third National development Plan-(1975-1980)
The fourth National development Plan- (1981-1985)
6. Petroleum and Nigerian Economy
Historical development of petroleum in Nigeria
Positive contributions of petroleum to Nigeria`s economy
Negative contributions of petroleum to Nigeria`s economy
NNPC- formation and roles in production refining and Achievement of NNPC
7. Achievement of NNPC
Organization of Petroleum Exporting Countries (OPEC)
Origin, membership
Roles of OPEC in production, refining, and marketing of oil
Achievement of OPEC
Note: Treat OPEC as Cartel.
8. International Economic Organization
ECOWAS- origin, objectives, achievements, problems
IBRD- origin, objectives, achievements, problems
IMF- origin, objectives, achievement, problems
ADB- origin, objectives, achievements, problems
9. ECA- origin, objectives, achievements, problems
UNC-AD- origin, objectives, achievements, problems
EU- origin, objectives, achievements, problems
WACH- origin, objectives, achievements, problems




10. Contemporary topical issues in Nigerian Economy
Introduction to computer studies
Impact of computer technology in Nigerian Economy
Recapitalization of financial institutions
Vision 2010 and vision 2020
11. Revision

Topic:- Economic Growth and Development
Reference books:-
1. Essential economics for SSS by C.E. Ande
2. Fundamental of economics for SSS by R.A.I. Anyawuocha
3. Summary of points in Economics for West African SS by J.O.C. Ezeobi


Sub-topic:- Definitions of both, differences and relationship between them.
Behavioral objective:- by the end of the lesson, he student should be able to;
(a) define both economic growth and development
(b) differentiates between them and
(c) explain the relationship that exist between them.

Content Element:- Economic growth can be defined as the process by which output is increased. While economic development is the process of increasing real per capita income and engineering substantial positive transformation in the various sectors of an economy.

Content II: Differences: In economic growth, there is a greater emphasis on the increase in output while in economic development, it is mainly concerned with the growth of income, development in all spheres of the economy activities and emphasis on even distribution of facilities between various areas.

Content III: Relationship between them: Although, the two concepts are somehow similar, but they do not mean he same thing in totality. A prolonged economic growth will lead to an economic development.

Evaluation:- (a) with their definitions, distinguish between economic growth and development.
(b) explain the relationship that exist between them.

Assignment:- lists and explain the features of a development economy.
Remarks:- This lesson could not be taught due to the organized test going on in SS III class.




Sub-topic:- Ways by which Economics Development can be Encouraged.
Behavioral objective:- By the end of the lesson, the student should able to list and explain the various ways by which economic development can be encouraged.

Content:- In order to achieve rapid economic development in a country, the following steps must be taken;
1) The government of a country must have a sound economic planning and which must be strictly implemented.
2) Adequate provision of infrastructural facilities.
3) Government should involve itself in productive ventures.
4) The economy of such a country should also be diversified etc.

Evaluation:- List and explains the various ways by which the government of a country can encourage economic development in a country.

Assignment:- write short notes on the factors that affect economic development.

Topic:- Economic Growth and Development continues
Reference books:-
1. Essential economics for SSS by C.E. Ande
2. Fundamental of economics for SSS by R.A.I. Anyawuocha
3. Summary of points in Economics for West African SS by J.O.C. Ezeobi


Sub-topic:- Problems of economic Development
Behavioral objective:- by the end of the lesson, he student should be able to; (a) list and explain the problems of economic development (b) identify the features of underdeveloped economics or developing economics.

Content Element:- Developing and features of A Developing country. A developing country is one of which lacks the human and materials resources used in improving the quantity of human lives which lead to the levels of living or a country that has not reached a certain level of development and improvements.

Content II: Features:
i. Dependence on agriculture
2. High dependency on foreign nations
3. Low savings and investments
4. Population explosion
5. Low per capital income
6. Low standard of living etc.

Content III: Problems of Economic Development:
i. Low level of savings and investment
2. inadequate capital
3. Inadequate infrastructure
4. Leadership problem.
5. Slow level of technology
6. dependence on imports
7. population explosion etc.

Evaluation:- list and explain the features of a developing economy.

Assignment:- Write short notes on the conditions necessary for rapid economic development.




Sub-topic:- Conditions necessary for rapid Economic Development
Behavioral objective:- By the end of the lesson, the student should able to list and explain the various necessary conditions for rapid economic development.

Content:-
1) Encouragement of savings and investments.
2) Encouragement of export promotion.
3) Able leadership
4) Good development plan
5) Population, growth etc

Evaluation:- List and explains the necessary conditions for a rapid economic development.

Assignment:- Read up development planning against the next lesson.

Topic:- Development planning
Reference books:-
1. Essential economics for SSS by C.E. Ande
2. Fundamental of economics for SSS by R.A.I. Anyawuocha
3. Summary of points in Economics for West African SS by J.O.C. Ezeobi


Sub-topic:- Definition of economic planning and types of plans and aims.
Behavioral objective:- by the end of the lesson, he student should be able to; (a) define economic planning (b) list and explain the types (c) outline the aims of economic planning.

Content Element:- Economic planning can be define as a government conscious and deliberate effort to allocate the available resources to the different sectors of the economy order to achieve a smooth and rapid economic growth while development planning involves the strategies occupies out by the government of a country to achieve quick and over economic growth and development.

Types of Economic planning; there are 2 major types of economic planning these are (i) aggregate economic planning (ii) disaggregate economic planning.

Evaluation:-
a) define economic planning
b) list and explain its types and
c) enumerate the problems associated with economic planning.

Assignment:- Write short notes on the pre-independence economic plan of Nigeria and its shortcoming




Sub-topic:- the post independence plan of Nigeria:- The 1st and 2nd National Development plan.
Behavioral objective:- By the end of the lesson, the student should able to (a) say a brief history of this plan. (b) identify what happened in the 1st and 2nd national development plans.

Content:-
Nigeria has had four various development plans since independence, these are;
1) 1962 - 1968 3) 1975 - 1980
2) 1970 - 1979 4) 1981 - 1985

First plan:
In the 1st national Development plan, (1962 - 1968) the total capital expenditure of N254,854 was to be expended while projected GNP growth rate was 4.4% annually. The period witnessed the improvement in road construction, establishment of light industries to process agricultural raw materials.

The 2nd N.D.P. was between 1970 - 1974. Here the whole economy was sub-divided into three;
i. economic sector
ii social infrastructure
iii. administration

Evaluation:- 1) Briefly explain the happenings in the 1st development plan (2) what problems did it encounter.

Assignment:- identify the objectives of both the 3rd and the plans.

Topic:- Development planning continues
Reference books:-
1. Fundamental of economics for SSS by R.A.I. Anyawuocha
2. Essential economics for SSS by C.E. Ande
3. New system Economics for SSS by Ewa Udu.



Sub-topic:- Economic & Development planning continues
Behavioral objective:- by the end of the lesson, he student should be able to; (a) explain each plan (b) identify their aims or objectives (c) mention their short comings.

Content Element:- The third development.
The total planned investment for the period was put at N30b with an anticipated growth rate of 11%. There was an increased earnings from crude oil.
Aims:
1. A more equitable distribution of income
2. A reduction in the level of unemployment
3. A balanced development of the economy etc.

Fourth Development Plan
Planned expenditure was put at N82b with an anticipated growth rate of 7%. The aims are same with the one above.

Problems:
The aims of the plan were delayed in achievement as a result of the world oil glut.

Evaluation:-
What were the achievements made in the third and forth development plans.
Assignment:- Write short notes on the economic important of infrastructures.




Sub-topic:- Problems Associated with Economic Planning West Africa.
Behavioral objective:- By the end of the lesson, the student should able to identify the problems planning in West Africa.

Content:-
Problems facing development planners are as follows;
1. political instability
2. inadequate capital
3. misplacement of priorities.
4. insufficient statistical data
5. inadequate skilled personnel
6. rapid population growth etc.

Evaluation:- explain the various problems associated with development plans in Nigeria.

Assignment:- Read up the topic petroleum and the Nigeria Economy.

Topic:- Contemporary issues in the Nigeria Economy.
Reference books:-
1. Fundamental of economics for SSS by R.A.I. Anyawuocha
2. Essential economics for SSS by C.E. Ande
3. New system Economics for SSS by Ewa Udu.


Sub-topic:- Contemporary issues in the Nigerian Economy e.g. unemployment.
Behavioral objective:- by the end of the lesson, he student should be able to; (a) define the term unemployment (b) lists and explain its types. (c) explains its causes.

Content Element:- Unemployment can be defined as a situation in an economy which people both men and women fall into the world population who are willing and able to work but cannot get jobs to do.

Types of Unemployment:
There are several types of unemployment, they are.
1. frictional unemployment
2. cyclical unemployment
3. residual unemployment
4. structural unemployment
5. casual unemployment
6. seasonal unemployment etc.

Causes of Unemployment
1. in adequate industries
2. overpopulation
3. use of automated machines
4. inadequate social amenities
5. inadequate educational system.

Evaluation:-
a) define unemployment
b) list and explain the types of unemployment.
c) explain the cause of unemployment
_______________

Topic:- Contemporary issues in the Nigeria Economy continues
Reference books:-
1. Essential economics for SSS by C.E. Ande
2. Fundamental of economics for SSS by R.A.I. Anyawuocha
3. Summary of points in Economics for West African SS by J.O.C. Ezeobi



Sub-topic:- Privatization and Reasons for it
Behavioral objective:- by the end of the lesson, he student should be able to; (a) define privatization (b) explain the reasons for it and (c) the benefits of privatization.

Content Element:- Privatization can be defined as the /a policy designed to enable individuals and private or corporate organizations take over the ownership and control of government business such as public companies and corporation.

Reasons for privatization
1. Efficient management
2. Participation of private individual
3. to general more revenue
4. Autonomy of enterprises
5. removal of unproductive enterprises
6. promotion of efficiency etc.

Evaluation:-
1. explain the term privatization
2. list and explain the reasons for privatization

Assignment:- Define nationalization and explain the benefits





Sub-topic:- Commercialization
Behavioral objective:- By the end of the lesson, the student should able to (a) define commercialization (b) list and explain its benefits.

Content:-
Commercialization is a policy geared towards making state owned enterprises to become more efficient and profit oriented.

Advantages:
1. Reduction in public expenditure
2. It promotes efficiency
3. It helps to generate more revenue
4. It makes the consumers have better choice of products

Evaluation:- a) define commercialization (b) explain its advantages and disadvantages.

Assignment:- Write short notes on indigenization.

Topic:- Contemporary issues in the Nigeria Economy continues
Reference books:-
1. Fundamental of economics for SSS by R.A.I. Anyawuocha
2. Essential economics for SSS by C.E. Ande
3. Comprehensive Economics for SSS by A.U. Anyaele



Sub-topic:- Privatization: The advantages and disadvantages.
Behavioral objective:- by the end of the lesson, he student should be able to; (a) state the advantages and disadvantages of privatization.

Content Element:-
1. Reduction in public expenditures
2. it promotes efficiency
3. general of more revenue
4. emergency of innovations.
5. better choice by consumers

Disadvantages:
1. poor standard of living
2. high cost of products
3. reduction in employment
4. uneven distribution of income
5. less of consumers' welfare scheme.

Evaluation:-
a) list and state the advantages and disadvantages.
Assignment:- write short notes on "Joint ventures"





Sub-topic:- Differences between nationalized company and public liability company
Behavioral objective:- By the end of the lesson, the student should able to (a) differentiates between nationalized and public limited liability companies.

Content element:-
s/n Features..........Nationalized company..................Public limited company
1. Ownership:......It is owned by the government .....It is owned by shareholders
2. Aim:...............To provide essential services.........For profit making
3. Capital:...........Provided by the government.........Provided by selling it shares
4. Control:......Controlled by the board of directors...Controlled by board of elected by the shareholders.

Evaluation:- differentiate between nationalized and public limited companies.

Assignment:- differentiate between indigenization and nationalization.

Topic:- International Economic Organization (IEO)
Reference books:-
1. Fundamental of economics for SSS by R.A.I. Anyawuocha
2. Essential economics for SSS by C.E. Ande
3. Summary of points in Economics for West Africa SSS by JOC Ezeobi.



Sub-topic:- Meaning of International Economic Organizations, the types and reasons for their Establishment IMF: meaning and Formation
Reference books:-
1. Fundamental of economics for SSS by R.A.I. Anyawuocha
2. Essential economics for SSS by C.E. Ande
Behavioral objective:- by the end of the lesson, he student should be able to; (a) define international economic organization. (b) list and explain the types and give examples of each. (c) say a brief history of international monetary funds (IMF) and its objectives.

Content Element:-
International Economic Organization may be simly defined as the unions or associations formed by two or more countries for the economic benefits of its member countries e.g. IMF, GATT, OPEC, IBRD, ECOWAS, EEC, ECA, UNCTAD, etc

Types:
IEO are mainly grouped into three types namely;
1. financial international economic organizations e.g. IMF, IBRD, ADB, etc.
2. Co-operative I.E.O. such as EEC, ECOWAS, ECA, etc.
3. Trade - regulatory IEO e.g. OPEC, UNCTAD, Gatt, etc.


Reasons for the establishment of IEO and their Aims - IMF:
IMF is a financial international economic organization that was established in Brehon Woods in 1944 but began operations in 1947. Presents it has 138 members countries. It was established to encourage and stabilize exchange rate among member countries.

Evaluation:-
(1) define international economic organization.
(2) explain the types and give examples
(3) when was IMF established and where.

Assignment:- how does IMF operate?




Sub-topic:- Achievement and problems of IMF.
Reference books:-
1. Essential Economics for SSS by R.A.I. Anyanwuocha
2. Summary of points in Economic for West Africa SSS by JOc Ezeobi
Behavioral objective:- By the end of the lesson, the student should able to (a) explain the achievements of IMF so far. (b) the several problems facing it.

Content element:- Though, the fund later encountered some problems, but it was able to meet some set objectives and aims.
1. IMF has been able to stabilize exchange rates among its member.
2. The fund has been helping many ountries to solve their balance of payments problems.
3. It has also served as an organization of last resort to developing countries to manage their external debts very well etc.

Problems:
1. The fund is not run on a democratic basis hence member countries that contribute more money have more lotting rights.
2. The conditionality prescribed by IMF instead of helping the developing countries have served as a kiss of clean the to citizens of these less development countries.

Evaluation:- (i) explain some achievements of IMF. (ii) explain some of its problems.

Assignment:- read up the topic Economic Commission for Africa.

Topic:- International Economic Organization continues
Reference books:-
1. Essential economics for SSS by C.E. Ande
2. Fundamental of economics for SSS by R.A.I. Anyawuocha
3. Summary of points in Economics for West Africa SSS by JOC Ezeobi.
Previous knowledge:- The students have a fore knowledge of the topic.




Sub-topic:- The Economic Community of West Africa States
Reference books:-
1. Fundamental of economics for SSS by R.A.I. Anyawuocha
2. Essential economics for SSS by C.E. Ande
Behavioral objective:- by the end of the lesson, he student should be able to; (a) State the origin of ECOWAS. (b) list and explain the aims and objectives of ECOWAS. (c) identify the problems of ECOWAS

Content Element:-
ECOWAS may be define as a sub-regional organization formed development in all economic fields and of contributing to the program and development of African countries.

Organs of ECOWAS
The treaty that formally established it provided that following organ.
1. The authority of heads of states and government.
2. The council of ministers made of two members or representatives from
each member state etc.

Achievement:
1. since the creation of ECOWAS, there has been an increased sense of
community spirit in the West African sub-region at all levels.
2. The expansion of market has led to mass production and increase in
supply of goods in this part of the world.
3. Liberation of trade in unprocessed goods is one of the three
components of the liberalization, etc.

Evaluation:-
(1) say a brief history of ECOWAS
(2) state ad explain its owns and objectives
(3) list and explain its organs.

Assignment:- Write short problems on the problems facing ECOWAS





Sub-topic:- General agreement on trade and tarrifs.
Reference books:-
2. Indispensible Economics of West African for SSS and Colleges
1. Essential Economics for SSS by C.E. Ande.
Behavioral objective:- By the end of the lesson, the student should able to (a) explain the formation of GATT (b) its objectives and (c) achievements.

Content element:- GATT is a trade regulating organization established in1947 to reduce restriction and tariffs on improves of members countries.
The Main Objectives:
1. GATT is to reduce restriction and tariffs on imports of member states.
2. It is to provide rules and regulations guiding tariffs on international transactions.
3. The organization is to improve balance of payments of member states.
4. GATT is to gather and publish statistical data on imports and export tariffs for the use of member countries.

Evaluation:- (i) explain how GATT originated (ii) state its aims and (iii) list and explain its achievements.