SS3 First Term Economics Lesson Note and Scheme of Work

Week 1: Introduction to Economics

Lesson: Basics of Economics, Definition, and Scope

Activity: Class discussion on everyday economic activities

Week 2: Economic Systems

Lesson: Types of Economic Systems (Capitalism, Socialism, Communism)

Activity: Group presentation on real-world examples of economic systems

Week 3: Demand and Supply

Lesson: Understanding Demand and Supply, Factors affecting them

Activity: Market simulation game to illustrate demand and supply dynamics

Week 4: Elasticity of Demand and Supply

Lesson: Price Elasticity, Cross Elasticity

Activity: Analyzing real-world examples of price changes and their impact

Week 5: Market Structures

Lesson: Perfect Competition, Monopoly, Oligopoly, Monopolistic Competition

Activity: Research and presentation on different market structures

Week 6: Money and Banking

Lesson: Functions of Money, Central Banks, Commercial Banks

Activity: Simulation of a banking system within the class

Week 7: Inflation and Unemployment

Lesson: Causes and Effects of Inflation and Unemployment

Activity: Case study analysis of a country’s economic challenges

Week 8: Fiscal Policy

Lesson: Government Spending, Taxation, Budgeting

Activity: Designing a hypothetical government budget

Week 9: Monetary Policy

Lesson: Role of Central Banks, Interest Rates

Activity: Analyzing the impact of interest rate changes on businesses and consumers

Week 10: International Trade

Lesson: Benefits and Challenges of International Trade

Activity: Debates on the pros and cons of globalization

Week 11: Revision Week

Review of all topics covered, Q&A sessions

Week 12: Examination Week

Formal written examination on the entire term’s content

Week 13: School Dismissal Week

Recap of the term’s key learnings, distribution of progress reports

Closing ceremony and acknowledgment of outstanding students.