SS2 Second Term Economics Lesson Note and Scheme of Work

Week 1: Introduction to Microeconomics

Lesson Note: Introduce students to the basics of microeconomics, focusing on supply and demand.

Scheme of Work: Discuss the concept of scarcity and its impact on decision-making. Activities include group discussions on real-life examples.

Week 2: Market Structures

Lesson Note: Explore different market structures – perfect competition, monopoly, oligopoly, and monopolistic competition.

Scheme of Work: Conduct case studies on businesses that fall under each market structure. Students engage in a debate on the advantages and disadvantages of each.

Week 3: Macroeconomics Overview

Lesson Note: Provide an overview of macroeconomics, covering topics like GDP, inflation, and unemployment.

Scheme of Work: Analyze current economic indicators. Assign projects for students to present on a specific macroeconomic factor affecting their community.

Week 4: Fiscal Policy

Lesson Note: Examine government’s use of taxation and spending to influence the economy.

Scheme of Work: Simulate a budget exercise where students create their own fiscal policy proposals. Present and discuss the potential impact on the economy.

Week 5: Monetary Policy

Lesson Note: Study the role of central banks and monetary policy tools.

Scheme of Work: Conduct a virtual tour of a central bank. Engage students in a role-playing activity where they act as members of a central bank making monetary policy decisions.

Week 6: International Trade

Lesson Note: Explore the benefits and challenges of international trade.

Scheme of Work: Organize a mock international trade fair within the class. Each student represents a country, and they negotiate trade agreements.

Week 7: Economic Development

Lesson Note: Discuss factors contributing to economic development.

Scheme of Work: Assign research projects on a developing country, highlighting its economic progress and challenges. Students present their findings.

Week 8: Economic Systems

Lesson Note: Compare different economic systems – capitalism, socialism, and mixed economies.

Scheme of Work: Conduct a debate on the most effective economic system. Encourage critical thinking and analysis of real-world examples.

Week 9: Public Goods and Externalities

Lesson Note: Examine public goods and the impact of externalities on economic decision-making.

Scheme of Work: Group activity on identifying public goods and externalities in their community. Discuss potential solutions.

Week 10: Review and Test Preparation

Lesson Note: Review key concepts covered in the term.

Scheme of Work: Conduct a comprehensive review session. Assign practice tests and provide guidance on effective study strategies.

Week 11: Revision Week

Week 12: Examination Week

Week 13: School Dismissal Week

Lesson Note: Reflect on the term’s learning and accomplishments.

Scheme of Work: Organize a brief closing ceremony, acknowledging student achievements. Distribute feedback and encourage students to explore economics beyond the classroom.