Jss1 Second Term Business Studies Lesson Note and Scheme of Work

Week 1: Introduction to Economics

Lesson Note: Transition into the second term by introducing Economics. Discuss the basic concepts and importance of understanding economic principles.

Scheme of Work: Cover topics like scarcity, opportunity cost, and basic economic systems. Activities include analyzing real-life examples of scarcity and opportunity cost and a class discussion on different economic systems.

Week 2: Economic Systems

Lesson Note: Explore different economic systems, such as capitalism, socialism, and mixed economies. Discuss their characteristics and impact on societies.

Scheme of Work: Topics include economic systems, market structures, and government intervention. Activities involve a group project on researching and presenting information about different economic systems.

Week 3: Demand and Supply

Lesson Note: Introduce the fundamental concepts of demand and supply. Discuss how these forces interact in a market economy.

Scheme of Work: Cover demand, supply, and market equilibrium. Activities include creating supply and demand curves for hypothetical products and analyzing market trends.

Week 4: Price Determination

Lesson Note: Explore the factors influencing price determination in the market. Discuss the role of competition and government in setting prices.

Scheme of Work: Topics include price determination, factors affecting prices, and government price controls. Activities involve case studies on the impact of price controls and a debate on the pros and cons of government intervention in pricing.

Week 5: Market Structures

Lesson Note: Delve into different market structures, such as perfect competition, monopoly, and oligopoly. Discuss their characteristics and implications.

Scheme of Work: Cover market structures and their features. Activities include analyzing real-world examples of companies in different market structures and a group presentation on market structure impacts.

Week 6: Money and Banking

Lesson Note: Introduce the concepts of money, banking, and their roles in the economy. Discuss the functions of central banks.

Scheme of Work: Topics include money, banking, and the role of central banks. Activities involve a simulation game on understanding the banking system and creating a poster on the functions of money.

Week 7: International Trade

Lesson Note: Explore the importance of international trade and its impact on economies. Discuss trade barriers and globalization.

Scheme of Work: Cover international trade, trade barriers, and globalization. Activities include a role-play simulation of international trade negotiations and a class discussion on the advantages and disadvantages of globalization.

Week 8: Economic Development

Lesson Note: Focus on the concept of economic development and factors influencing the development of nations. Discuss sustainable development goals.

Scheme of Work: Topics include economic development, indicators of development, and sustainable development goals. Activities involve researching and presenting case studies on countries that have experienced significant economic development.

Week 9: Entrepreneurial Skills

Lesson Note: Build on entrepreneurship by exploring specific entrepreneurial skills and traits. Discuss how these skills contribute to personal and societal success.

Scheme of Work: Cover entrepreneurial skills, including creativity, risk-taking, and problem-solving. Activities involve a workshop on developing entrepreneurial skills and a group project on creating a business plan.

Week 10: Review and Recap

Lesson Note: Review key concepts covered in the second term. Address any remaining questions or uncertainties.

Scheme of Work: Conduct a comprehensive review session, practice quizzes, and group discussions. Prepare students for the upcoming examination.