SCHEME OF WORK FOR S.S ONE ON ECONOMICS FOR FIRST TERM 2023/2024 SESSION.

Wk.1 Meaning of Economics and Related Concepts:

 Definition, scope, importance and methodology of economics
 Economics as a science,
 Concepts of wants scarcity, scale of preference, choice, opportunity cost
 Why do we study Economics
Wk.2 Basic Tools of Economics Analysis:
 Example of the basic tools of economic analysis - graphs, charts and tables and their various
definition and uses
 Frequency distribution table
 Measures of central tendency (mean, mode and median).
Wk.3 Basic Economic Problems of the Society:
 What to produce, How to produce, For whom to produce
 Efficiency of resources use
 Economic system, (Definition and types)
 How resources are allocated in the different Economic systems
Wk.4 Theory of Production:
 Meaning and types of production
 Factors of production (Meaning)
 Characteristics/features and importance of factors of production
Wk.5 Theory of Production II
 Division of labour and Specialization
 Advantages , Disadvantages & Limitations of division of labour
 Scale of Production-Internal economies and diseconomies
 Limitations to the Scale of Production or to the Growth of firms.

Wk.6-7: MID TERM EXAMINATION & BREAK

Wk.8 Distributive Trade:

 Channels and Process of Distribution
 Roles of Wholesalers, Retailers and Co-operatives in distribution
 The role of Government Agencies in product distribution
 Problems of distribution.
Wk.9 Business Organisations I (Firms and Industry):
 Meaning of Business organisation.
 Distinction between Private and Public enterprises
 Difference between a Firm and an Industry.
 Factors that determine the size of a firm.
 Reasons for the predominance of small firms in Nigeria.
Wk.10 Business Organisations II (Different types of Business Organisations):
 Formation and Features of;
 Sole proprietorship
 Partnership.
 Types of Partnership (Sleeping, Ordinary, Nominal partners)
 Co-operative Society (Types and Features)
Wk.11 Business Organisations III (Different types of Business Organisations – Contd.):
 Joint-Stock Company (Private and Public Limited companies)
 Distinction between Private and Public Limited companies.
 Sources of Fund available to Business enterprises
 General and Specific Problems of Business enterprises
 Meaning and Features of Public Corporations
Wk.12 Revision
Wk.13 - 14 Examination and Closing.

SCHEME OF WORK FOR S.S ONE ON ECONOMICS FOR SECOND TERM 2023/2024 SESSION.
Wk.1 Theory of Demand:
 Concept/Meaning of Demand
 Demand Schedules and Curves for a commodity
 Laws of Demand
 Factors affecting the demand for a commodity
 Types of Demand
 Shifts of the demand curve and Movement along the Demand curve
Wk.2 Theory of Supply:
 Concept/Meaning of Supply
 Supply Schedules and Curves of a commodity
 Laws of Supply
 Factors affecting the Supply of a commodity
 Types of Supply
 Shifts of the Supply curve and Movement along the Supply curve
Wk.3 Price Determination:
 Determination of Equilibrium Price and Quantity
 Graphical illustration of equilibrium price and quantity
 Effect of changes in demand or supply on the equilibrium price and quantity
 Elasticity of Demand and Supply
Wk.4 Population:
 Meaning/concepts and types of Population
 Determinants & implications of population size and growth
 Theories of population. E.g. Malthusian Theory of population, Demographic
Transition theory of population, etc.
Wk.5 Population Distribution:
 Geographical, age, sex and occupational distribution)
 Meaning of population census, Importance and problem of census
 Rural-Urban migration.
Wk.6 Labour Market:
 Meaning of Labour Market
 Concept of Labour force, Efficiency and mobility of labour
 Factors affecting the size of the labour force , particularly the Population
Characteristics (Age, Sex, Occupation, Education).
Wk.7-8: MID TERM EXAMINATION & BREAK
Wk.9 Labour Market (Unemployment):
 Meaning and types of unemployment
 Causes, effects and solutions
 Concepts of Self-employment, Job creation and Dignity of labour
Wk.10 Wage determination
 Meaning of wage determination
 Demand for and Supply of Labour
 Shift and slopes of the demand for and supply of labour
 Trade unions and their related institutions
Wk.11 Revision/Examination
Wk.12 Examination and Recording/Closing.

SCHEME OF WORK FOR S.S ONE ON ECONOMICS FOR THIRD TERM 2023/2024 SESSION.
Wk.1 Nature of the Nigerian Economy:
 General overview of the Nigerian economy and its economic potentials
 Nature and structure of industries in Nigeria
 Relative contributions of the various sectors (Primary, Secondary and Tertiary)
sectors of the Nigerian Economy.
Wk.2 Petroleum/Mining and the Nigerian Economy:
 Development of Petroleum Industry
 Role of NNPC, OPEC in the exploration, production, refining and marketing and
distribution of Petroleum products.
 Contributions of Petroleum Industry to the Nigerian economy (Positive and Negative).
 Components of the Nigerian Mining Industry (Minerals, types, uses & locations)
Wk.3 Agriculture:
 Meaning of Agriculture
 Components and Systems of Agriculture
 Importance of Agriculture to the Nigerian economy
 Linkage between Agriculture and Industries in Nigeria
Wk.4 Agriculture II:
 Activities of the Marketing Boards in Nigeria
 Agricultural policies in Nigeria
 Problems of Agriculture
 Prospects of Agriculture in Nigeria
Wk.5 Industrialization:
 Definition of Industrial concepts (Plant, Factory, Firms, Industry and Industrial estate)
 Location and Localization of Industries in Nigeria
 Factors influencing the location of Industries in Nigeria
 Advantages and Disadvantages of localization of Industry.
Wk.6 MID – TERM BREAK
Wk.7 Raising Funds in the Capital Market:
 Meaning of Capital Market
 Methods of raising Funds in the Capital Market.
 Distinction between Quoted and Unquoted Companies.
 Nature of the Second-Tier Stock Market.
Wk.8 Instruments of Business Finance:
 Basic Instruments for Business financing
 Meaning and types of shares, debentures and other securities
 Problems of Business finance in Nigeria
Wk.9 Money:
 Definition and Historical development of Money
 Types of Money (Credit cards, value cards, and other ICT aided payment instruments)
 Functions of Money
 Qualities/Characteristics of Money
Wk.10 Revision
Wk. 11 - 12 Examination and Recording/Closing.

SCHEME OF WORK FOR S.S TWO ON ECONOMICS FOR FIRST TERM 2023/2024 SESSION.
Wk.1 Theory of Demand and Supply:
 Shifts of the demand curve and Movement along the Demand curve
 Shifts of the Supply curve and Movement along the Supply curve
Wk.2 Theory of Demand and Supply:
 Elasticity of Demand and supply
Wk.3 The Production Possibility Curve:
 Definition and Illustration of Production Possibility Curve (PPC)
 Concept of total, average, and marginal productivity,
 Laws of Variable Proportions
WK.4 Cost Concepts:
 Basic Cost Concepts (Total, average, marginal, fixed, variable costs)
 Short-run and Long-run costs.
 Distinction between Economists’ view of cost and Accountants’ view of cost.
WK.5 Revenue Concepts;
 Basic Revenue Concepts of (Total revenue, average revenue and marginal revenue)
 Revenue Schedules and Curves
 Relationship between Revenue and Production
 Review of Histograms, Polygons, Pie chart, Bar chart, Calculations of charts
 Simple linear equation, Measures of dispersion.
Wk.6 Economic Systems:
 Meaning of Economic System
 Basic features of the different economic systems
 Different Economic Systems and how they solve their economic problems
Wk.6 Fiscal Policy:
 Meaning of Fiscal Policy, Public Finance
 Objectives of Public Finance
 Revenue Allocation, including Resource Control
 Sources of Government Revenue

Wk.7 MID – TERM BREAK

Wk.8 Fiscal Policy (Taxation):
 Meaning and Types of Taxation (Direct and Indirect Taxation)
 Tax Systems
 Effects and Incidence of Taxation
 Structure and Effects of Public expenditure on Government budgets
Wk.9 Balanced and Unbalanced Budget:
 Meaning and Reasons for Balanced budget
 Meaning of Unbalanced, Surplus and Deficit budget
 Ways of financing deficit budget (debt burden, debt relief, debt buy-back)
 Effects of financing deficit budget
Wk.10 Other Tools of Economic Analysis:
 Simple Linear Equations
 Measures of Dispersion
 Review of Calculation and drawing of Charts (Pie chart, Bar chart, Histogram, etc.)
Wk.11 Revision

Wk.12 - 13 Examination and Recording/Closing.

SCHEME OF WORK FOR S.S TWO ON ECONOMICS FOR SECOND TERM 2023/2024 SESSION.
Wk.1 Theory of Consumer Behaviour (Utility Theory):
 Concepts of Total, Average and Marginal Utility
 Principle of Utility Maximization and Diminishing Marginal Utility
 Derivation of Demand curve from Utility theory,
(Changes in Marginal utility as units of the product increases)
Wk.2 Market Structures:
 Concepts of Markets
 Types and Classification of Markets
 Characteristics of a Perfect Market or Perfectly Competitive Market
 Imperfect Market of Imperfect Competition
 Monopolistic Competition
Wk.3 Elements of National Income Accounting:
 Meaning/Concepts of National income and their uses
 Methods of measuring National income and their limitations
 Uses and limitations of National income estimates
 Trends and structure of National income.
Wk.4 Money (Demand for and Supply of Money)
 Meaning of Demand for and Supply of Money
 Determinants of Demand for and Supply of Money (Motives for holding Money)
 Value of Money and the Price level
Wk.5 Inflation and Deflation:
 Meaning and types of Inflation/Deflation
 Causes, effects and control of Inflation/Deflation
 Inflation in Nigeria today.
Wk.6 MID – TERM BREAK
Wk.7 Financial Institutions
 Meaning and Types of Financial Institutions (Traditional, Central Bank, Commercial Bank,
Development Bank, Merchant Bank, Insurance companies, and Building societies)
 Development and Functions of Financial Institutions
 Money and Capital Markets (Meaning, types and functions)
Wk.8 International Trade
 Differences between International trade and Domestic trade
 Reasons for International trade
 Theory of Comparative cost and its shortcomings
 Terms of trade (Definition and Measurement)
 Commercial policy (Objectives) and Instruments
 Trend and Structure of West African countries’ external trade
Wk.9 Balance of Payments:
 Role of Money in International transactions
 Meaning and Components of Balance of payments
 Favourable and Unfavourable Balance of payments and their effects
 Balance of Payments disequilibrium
 Balance of payments adjustments (Exchange rate control policy, Monetary and Fiscal
policies, Financing – The use of reserves and international borrowing)
Wk.10 Revision
Wk.11 - 12 Examination and Recording/Closing.

SCHEME OF WORK FOR S.S TWO ON ECONOMICS FOR THIRD TERM 2023/2024 SESSION.

Wk. 1 International Trade

 Differences between International trade and Domestic trade
 Reasons for International trade
 Theory of Comparative cost and its shortcomings
 Terms of trade (Definition and Measurement)
 Commercial policy (Objectives) and Instruments
 Trend and Structure of West African countries’ external trade
Wk.2 Economic Growth and Development:
 Meaning of Economic Development
 Distinction between Economic Growth and Development
 Characteristics and problems of developing countries
(Problems of economic development in Nigeria)
Wk.3 Economic Development Planning:
 Meaning of Economic Development Planning
 Elements of Development Planning
 Objectives and problems of Planning
 Types of Plans (Short term, Medium term, Perspective or Long term, Rolling plan, etc.)
Wk.4 Economic Reform Programs:
 Consolidation of Financial Institutions
 Privatization, Commercialization and Deregulation
 Institution and role of EFCC, ICPC, NAFDAC and SON in the Nigerian Economy
Wk.5 Economic Integration:
 Meaning and objectives of Economic Integration
 Features and Levels of Economic Integration
 Developments and Problems of Economic Integration in West Africa (ECOWAS)
Wk.6 International Economic Organisations:
 Historical development and role of:
 Organisation of Petroleum Exporting Countries (OPEC)
 Economic Commission for Africa (ECA)
 International Monetary Fund (IMF)
 International Bank for Reconstruction and Development (IBRD)
Wk.7 MID – TERM BREAK
Wk.8 International Economic Organisations II:
 Historical development and role of:
 African Development Bank (ADB)
 United Nations Conference on Trade and Development (UNCTAD), etc.
 Relevance of these Organizations to West African Countries
Wk.9 Major Natural Resources:
 Development of Major Natural Resources
(Petroleum, Gold, Diamond, Timber, Groundnut, etc.)
 Effects of the natural resources on West African economies (Positive and Negative)
Wk.10 Human Capital Development:
 Definition and Characteristics of Human Capital
 Factors affecting the efficiency of Human Capital
 Distinction between Human and Physical Capital
 Brain drain and its effects on the Nigerian economy
Wk.11: Revision
Wk.12 - 13 Examination and Recording/Closing.
S.S THREE PLAN OF WORK ON ECONOMICS FOR FIRST TERM 2023/2024 SESSION.

Wk.1 Development Plans in Nigeria:

 Nigeria’s planning experience
 Objectives of Nigeria’s development plans
 Current Economic Plans (Meaning and Objectives of MDGs, NEEDS, and Vision 2020)
 Other Contemporary Plans
Wk.2 Economic Development Challenges:
 Meaning and Effects of Poverty
 Methods of Poverty Alleviation and Eradication
 Agencies for Poverty Alleviation (NAPEP, NDE, etc.)
 HIV/AIDS and the Economy
 Corruption and the Economy
 Power and Energy Inadequacy
Wk. 3 Other Tools of Economic Analysis:
 Simple Linear Equations
 Measures of Dispersion
 Review of Calculation and drawing of Charts (Pie chart, Bar chart, Histogram, etc.)

Wk.4-5 Review of Data Response Questions:

 Calculation of Charts and Graphs
 Graphical Illustrations of Graphs, Charts, Polygons
 Computation of Simple Linear Equations, Measures of Central Tendency,
Measures of Dispersion.

Wk.6 MID TERM BREAK

Wk.7 Review of Data Response Questions II:

 Mathematical aspects of Demand and Supply
(Market equilibrium, Elasticity of Demand and Supply)
 Graphical Illustrations of Demand and Supply
 Market Structures

Wk.8-9 Review of Data Response Questions III:

 Mathematical aspects of Population Studies
 Computation of Taxation
 National Income Accounting

Wk.10 Review of Data Response Questions IV:

 Computation and Graphing of Product curves, Cost curves, Revenue curves
 Utility Theory, etc.

Wk.11-13 Examination and Closing

S.S THREE PLAN OF WORK ON ECONOMICS FOR SECOND TERM 2023/2024 SESSION.

 General Review of Past Questions

 External Examinations (WAEC and NECO)