SS3 Economics 2nd Term
SS3 Economics 2nd Term Lesson Note
Balance of Payment (BOP)
SUB TOPICS:
A. Balance of payment disequilibrium: meaning and types
B. Differences between terms of trade and balance of trade
C. Causes of balance of payments deficit
D. Concept of devaluation
E. Conditions that favour devaluation
INSTRUCTIONAL OBJECTIVES: At the end of the lesson, learners should be able to:
1. Define the term “balance of payment disequilibrium” (Source: Ref WAEC 2015, Q6a)
2. Explain the two types of balance of payment disequilibrium (Source: Ref WAEC 2015, Q6b)
3. Highlight any four reasons most West African countries are experiencing balance of payment problem (Source: Ref WAEC 2015, Q6c)
4. Distinguish between terms of trade and balance of trade (Source: Ref WAEC 2021, Q8b)
5. ETC
Economic Growth and Development
SUB TOPICS:
A. Meaning of economic growth
B. Factors that facilitate economic growth
C. Definition of development
D. Features of development
E. Factors that facilitate economic development
F. Ways of financing economic development
INSTRUCTIONAL OBJECTIVES: At the end of the lesson, learners should be able to:
1. Define economic growth (Source: Ref E1-01, Pg 456)
2. Highlight five factors that facilitate economic growth (Source: Ref E1-02, Pg 451)
3. ETC
Economic Development Planning
SUB TOPICS:
A. Meaning of development plan
B. Problems of development plans in Nigeria
C. Concept of “centrally planned economy”
D. Ways of financing economic development
INSTRUCTIONAL OBJECTIVES: At the end of the lesson, learners should be able to:
1. Explain the term “centrally planned economy” (Source: Ref WAEC 2011, Q3a)
2. Explain what a development plan mean (Source: Ref WAEC 1989, Q4a)
3. ETC
International Economic Organisations (ECOWAS, ADB)
SUB TOPICS:
A. Concept of “economic integration”
B. ECOWAS: Objectives, Achievements, Challenges and Solutions
C. ADB: Objectives, Achievements, Challenges and Solutions
INSTRUCTIONAL OBJECTIVES: At the end of the lesson, learners should be able to:
1. Explain the term “economic integration” (Source: Ref WAEC 2022, Q8a)
2. Outline any three short-comings of the Economic Community of West African States (ECOWAS) (Source: Ref WAEC 2022, Q8b)
3. ETC
International Economic Organisations (OPEC, IMF)
SUB TOPICS:
A. Formation and continued existence of OPEC
B. Objectives of OPEC
C. Problems of OPEC and their solutions
D. Functions of IMF
INSTRUCTIONAL OBJECTIVES: At the end of the lesson, learners should be able to:
1. Give five reasons for the continued existence of the Organization of Petroleum Exporting Countries (OPEC) (Source: Ref WAEC 2009, Q12)
2. Highlight five objectives of the Organisation of Petroleum Exporting Countries (OPEC) (Source: Ref WAEC 1988, Q9a)
3. ETC
Current Economic Plans: MDGs, NEEDS, and Vision 2020
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Economic Reform Programmes
SUB TOPICS:
A. Privatisation
B. Government participation in economic activities
INSTRUCTIONAL OBJECTIVES: At the end of the lesson, learners should be able to:
1. Explain the term “privatization” (Source: Ref WAEC 2010, Q8a)
2. Give four reasons for government participation in economic activities in your country (Source: Ref WAEC 2010, Q8b)
3. ETC
Economic Reform Programmes (CONT'D)
SUB TOPICS:
A. Privatisation
B. Government participation in economic activities
INSTRUCTIONAL OBJECTIVES: At the end of the lesson, learners should be able to:
1. Explain the term “privatization” (Source: Ref WAEC 2010, Q8a)
2. Give four reasons for government participation in economic activities in your country (Source: Ref WAEC 2010, Q8b)
3. ETC
Economic Reform Programmes (CONT'D)
SUB TOPICS:
A. Privatisation
B. Government participation in economic activities
INSTRUCTIONAL OBJECTIVES: At the end of the lesson, learners should be able to:
1. Explain the term “privatization” (Source: Ref WAEC 2010, Q8a)
2. Give four reasons for government participation in economic activities in your country (Source: Ref WAEC 2010, Q8b)
3. ETC
Online Quiz
Google Classrooms & Reference Textbooks
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Balance of Payment (BOP)
Economic Growth and Development
Economic Development Planning
International Economic Organisations (ECOWAS, ADB)
International Economic Organisations (OPEC, IMF)
Current Economic Plans: MDGs, NEEDS, and Vision 2020
Economic Reform Programmes
Online Quiz
Reference Textbooks
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