Scheme of work for secondary Economics Senior Secondary School 2

ECONOMICS SS2 SCHEME OF WORK

FIRST TERM

Topic: Basic Tools for Economic Analysis

1. Measures of Central Tendency
   • Mean, median, mode (using grouped data).
2. Measures of Dispersion
   • Range, variance, mean deviation, standard deviation.

Topic: Theory of Consumer Behaviour
3. Concept of Utility

• Total Utility (TU), Average Utility (AU), Marginal Utility (MU).

4. Law of Diminishing Marginal Utility
   • Relationship between marginal utility and demand curve.
5. Utility Maximization

Topic: Demand and Supply
6. Concepts

• Change in quantity demanded, change in demand.
• Change in supply, effects of changes on equilibrium price and quantity.

Topic: Elasticity of Demand
7. Meaning, Types, and Measurement

• Graphical illustration.

8. Importance
   • To consumers, producers, and government.

Topic: Elasticity of Supply
9. Meaning, Types, and Measurement

• Graphical illustration.

10. Importance
    • To consumers, producers, and government.

Topic: Income Elasticity of Demand
11. Definition and Types
– Positive and negative.
12. Measurement

Topic: Cross Elasticity of Demand
13. Definition and Measurement

Topic: Price Control/Legislation
14. Meaning and Types
– Minimum and maximum price.
15. Rationing and Hoarding
– Meaning, effects, and black market consequences.

Revision and Examination

SECOND TERM

Topic: Production Possibility Curve

1. Meaning and Graphical Illustration

Topic: Law of Variable Proportion
2. Concepts

• Total, average, and marginal productivity.

Topic: Cost Concept
3. Meaning of Cost of Production

• Accountant’s vs. Economist’s perspective.

4. Types of Cost
   • Total Cost (TC), Fixed Cost (FC), Variable Cost (VC), Average Fixed Cost (AFC), Marginal Cost (MC).
5. Schedule and Graphs

Topic: Revenue Concept
6. Meaning and Types

• Total, average, and marginal revenue.

7. Graphical Illustration

Topic: Economic System
8. Types and Features

• Capitalism, socialism, mixed economy, and welfarism.

Topic: Labour Market
9. Concepts

• Labour force, size, efficiency, and mobility.

10. Wage Determination and Unemployment
    • Meaning and types.
11. Trade Union

Topic: Market Structure
12. Types
– Perfect and imperfect markets.
13. Price Determination and Equilibrium
– Graphical illustrations.

Topic: Industries in Nigeria
14. Concepts
– Plants, firms, industries, and factories.
15. Location and Localization of Industry
– Factors, advantages, and disadvantages.

Revision and Examination

THIRD TERM

Topic: Money

1. Motive for Holding Money
2. Demand and Supply of Money
3. Quantity Theory of Money
4. Value of Money and Price Level

Topic: Financial Institutions
5. Money Market

• Meaning, functions, and instruments.

6. Capital Market
   • Meaning, functions, and instruments.

Topic: Inflation and Deflation
7. Meaning, Types, Causes, and Controls
8. Effects of Inflation and Deflation

Topic: Public Finance
9. Meaning and Objectives
10. Taxation
– Meaning, types (direct and indirect), advantages, and disadvantages.
11. Sources of Government Revenue

Topic: Budget
12. Meaning, Types, and Importance
13. National Debt
– Meaning, types, and financing deficit budget.

Topic: Revenue Allocation in Nigeria
14. Capital Market and Stock Exchange
15. National Income
– Meaning, GDP, GNP, and NNP.
– Measurement and problems.

Revision and Examination