SS1 Second Term Commerce Lesson Note and Scheme of Work

Term: Second Term

Week 1-2: Introduction to Economics

Transitioning from Commerce to Economics.

Understanding basic economic concepts.

Exploring the scope and importance of economics.

Activities: Class discussions, group projects on economic systems.

Week 3-4: Economic Systems

Studying different economic systems (capitalism, socialism, communism).

Analyzing the strengths and weaknesses of each system.

Discussing the role of government in various economic systems.

Activities: Debates on economic systems, case studies on countries with different systems.

Week 5-6: Demand and Supply

Understanding the concepts of demand and supply.

Exploring factors that influence demand and supply.

Analyzing the impact of changes in demand and supply on prices.

Activities: Market simulation games, real-world examples of supply and demand fluctuations.

Week 7-8: Market Structures

Exploring different market structures (perfect competition, monopoly, oligopoly).

Analyzing the characteristics and implications of each structure.

Discussing the role of competition in markets.

Activities: Group projects on market structures, case studies on companies in various markets.

Week 9-10: Money and Monetary Policy

Understanding the functions of money in an economy.

Exploring the role of central banks and monetary policy.

Analyzing the effects of inflation and deflation.

Activities: Role-play scenarios on monetary policy decisions, guest speaker from a financial institution.

Week 11: Revision Week

Reviewing key economic concepts from the term.

Clarifying doubts and addressing questions.

Engaging in group discussions on challenging economic topics.

Activities: Quiz competitions, group presentations on revision topics.

Week 12: Examination Week

Conducting term examinations for Economics.

Emphasizing the importance of proper exam preparation.

Ensuring a conducive exam environment.

Activities: Mock exams, last-minute review sessions.

Week 13: School Dismissal Week

Recap of the term’s Economics lessons.

Providing feedback on exams.

Distributing report cards.

Activities: Award ceremony for outstanding performance in Economics, farewell messages.