Scheme of work for secondary Economics Senior Secondary School 2

SS2 FIRST TERM

 

Basic tools for economic analysis

 

Measures of central tendency (mean, median, mode, using grouped data) Measures of dispersion

 

Range, variance, mean deviation, standard deviation Theory of consumer behaviour

 

Concept of utility (TU, AU and MU) Law of diminishing marginal utility Relationship between marginal utility and demand curve, utility

 

maximisation

 

Demand and supply

 

Change in quantity demanded Change in demand Change in supply Effects of changes in demand and supply on equilibrium price and quantity

 

Elasticity of demand

 

Meaning, types and measurement of elasticity of demand (graphical illustration) Importance of elasticity of demand to consumers, producers and

 

government Elasticity of supply

 

Meaning, types and measurement of elasticity of supply (graphical illustration) Importance of elasticity of supply to consumers, producers and

 

government Income elasticity of demand

 

Definition Types (positive and negative) Measurement of income elasticity of demand Cross elasticity of demand

 

Definition Measurement of cross elasticity of demand Price control/legislation

 

Meaning Types (minimum and maximum) Rationing and hoarding

 

Meaning of rationing and hoarding Effects of rationing and hoarding Black market and its effects Revision

 

Examination

 

SECOND TERM

 

Revision of last term’s work

 

Production possibility curve Meaning and graphical illustration Law of variable proportion Concept of total, average and marginal productivity

 

Cost concept

 

Meaning of cost of production Meaning of cost to an Accountant and Economist Types of cost (TC, FC, VC, AFC, MC etc.) Explain with schedule

 

and graph Short run and long run cost Revenue concept

 

Meaning of revenue to an Economist Types (Total, Average and Marginal revenue) Graphical illustration, schedule and curve Calculations

 

Economic system

 

Meaning of economic system Types of economic system (capitalism, socialism, mixed economy and welfarism) Features of each Factors to be

 

considered in the adoption of the economic system Labour market

 

Meaning of labour market Concept of labour force Factors affecting the size of labour force Efficiency and mobility of labour Supply and demand

 

for labour

 

Wage determination Unemployment (meaning and types) Trade union Market structure

 

Meaning and types of market (perfect and imperfect) Perfect (meaning, features and market equilibrium position (P=MR=MC=AR=D) Imperfect

 

market

 

Meaning and types with graphical illustration Price determination Equilibrium position (short and long run) Industries in Nigeria

 

 

 

Meaning of plants, firm, industry and factory Types of industries (mining, construction etc.) Location of industry

 

Meaning of location of industry Factory affecting location of industry Localisation of industry (meaning Factors affecting localisation of industry

 

Advantages and disadvantages of localisation of industries Revision and examination

 

ECONOMICS SS2 THIRD TERM

 

Revision

 

Money Motive for holding money Demand for and supply of money Elementary quantity theory of money Value of money and price level

 

Financial institutions

 

Money market (meaning, functions and instruments used) Capital market (meaning, functions and instruments used) Inflation

 

Meaning, types, causes of inflation Effects and controls of inflation Deflation Meaning and causes Effects and controls Public finance

 

Meaning, objectives Taxation (meaning, types (direct and indirect) Advantages and disadvantages Sources of government revenue

 

Incidence of taxation/ effects Structures of public expenditure (re-current and capital expenditure) Budget

 

Meaning, types and importance National debt (meaning and types) Financing deficit budget Revenue allocation in Nigeria Capital market

 

Meaning and functions Stock exchange How stock exchange operates Secondary and primary market Development bank (functions) National

 

income

 

Meaning and concept (GDP, GNP, NNP) Measurement of national income Problems of measuring