SS2 Economics 2nd Term
SS2 Economics 2nd Term Lesson Note
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Theory of Consumer Behaviour
SUB TOPICS:
A. Concept of utility
B. Meaning and types of utility (Form, Place and Time)
C. Concepts of average, marginal and total utility with solved examples
D. Relationship between average, marginal and total utility
E. Law of diminishing marginal utility
F. Utility maximization (Consumer Equilibrium)
G. Relationship between demand curve and the utility theory
INSTRUCTIONAL OBJECTIVES: At the end of the lesson, learners should be able to:
1 Explain the concepts of average, total and marginal utilities.
2 Mention the three forms of utility and explain their meaning.
3 ETC
First Semester to get started.
Concept of Demand and Supply
SUB TOPICS:
A. Effects of changes in demand on equilibrium quantity
B. Effects of changes in supply on equilibrium quantity
C. Elasticity of demand
D. Elasticity of demand and supply
E. Coefficient of elasticity of demand and supply and its interpretations
INSTRUCTIONAL OBJECTIVES: At the end of the lesson, learners should be able to:
1 Revise the interaction between the forces of demand and supply in determining the market price (Price Mechanism).
2 Explain the effects of changes in demand or supply on equilibrium price and quantity.
3 Illustrate the effects of an increase in price on the equilibrium price and equilibrium quantity.
4 Illustrate the effects of a decrease in price on the equilibrium price and equilibrium quantity,
5 ETC
Market Structures
SUB TOPICS:
A. Perfect and imperfect markets
B. Price and quantity determination under perfect and imperfect competition, monopoly, duopoly and oligopoly
INSTRUCTIONAL OBJECTIVES: At the end of the lesson, learners should be able to:
1 Define market and explain types of market, according to the type of commodity sold and according to nature of competition.
2 Differentiate between market place and market in economics.
3 Highlight the features of perfect market and imperfect market.
4 Differentiate between perfect market and imperfect market.
5 ETC
Industries in Nigeria
SUB TOPICS:
A. Meaning of industries
B. Concepts of plant, factory, firm, industry and industrial estate
C. Types of industries
D. Location and Localisation of industries
E. Industrialisation
INSTRUCTIONAL OBJECTIVES: At the end of the lesson, learners should be able to:
1 Define industry.
2 Distinguish between plant, factory, firm, industry and industrial estate.
3 State types of industries.
4 Explain the meaning of location and localisation of industries.
5 ETC
Agriculture in Nigeria
SUB TOPICS:
A. Problems of agricultural development in Nigeria and solutions
B. How to improve produce distribution
C. Link between agriculture and industry
D. Contribution of agriculture to the growth of industries in Nigeria and vice versa
E. Roles of Government in agricultural development
F. Agricultural policies in Nigeria
INSTRUCTIONAL OBJECTIVES: At the end of the lesson, learners should be able to:
1 Highlight any five problems of agricultural development in Nigeria.
2 Outline five ways of solving the problems highlighted above.
3 ETC
National Income and Public Finance
SUB TOPICS:
A. Definition of national income
B. Objectives of public finance
C. Structure of government revenue
D. Structure of public expenditure
E. Structure of government revenue and public expenditure
INSTRUCTIONAL OBJECTIVES: At the end of the lesson, learners should be able to:
1 Define public finance and fiscal policy.
2 State and explain the objectives of public finance and fiscal policy.
3 Explain the meaning of public revenue.
4 Discuss two types of public revenue with examples.
5 ETC
Mid Term Revision and Test for SS2 Economics 2nd Term
Taxation
SUB TOPICS:
A. Meaning and features of taxation
B. Types of taxation (direct and indirect)
C. Systems of taxation (Regressive, progressive and proportional tax)
D. Objectives of taxation
E. Merits and demerits of taxation
F. Canons of taxation
G. Meaning and types of incidence of taxation
INSTRUCTIONAL OBJECTIVES: At the end of the lesson, learners should be able to:
1 State the meaning of tax.
2 List the features of a tax.
3 Distinguish between direct and indirect tax.
4 Explain the meaning of progressive, proportional and regressive tax given relevant illustrations.
5 ETC
Elements of National Income Accounting
SUB TOPICS:
A. Balanced and unbalanced budget
B. Implications of balanced and unbalanced budget
C. Revenue allocation in Nigeria
INSTRUCTIONAL OBJECTIVES: At the end of the lesson, learners should be able to:
1 Define budget and state five importance of budget.
2 Mention two types of budget.
3 Explain the meaning of balanced budget.
4 Discuss five reasons for balanced budget.
5 ETC
Elements of National Income Accounting (CONT'D)
SUB TOPICS:
A. Balanced and unbalanced budget
B. Implications of balanced and unbalanced budget
C. Revenue allocation in Nigeria
INSTRUCTIONAL OBJECTIVES: At the end of the lesson, learners should be able to:
1 Define budget and state five importance of budget.
2 Mention two types of budget.
3 Explain the meaning of balanced budget.
4 Discuss five reasons for balanced budget.
5 ETC
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Theory of Consumer Behaviour
Concept of Demand and Supply
Market Structures
Industries in Nigeria
Agriculture in Nigeria
National Income and Public Finance
Taxation
Elements of National Income Accounting
Online Quiz
Reference Textbooks
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