WEEK ONE LESSONS FROM ASIAN TIGERS, JAPAN, EUROPE AND AMERICA CONTENT Economic History of the Asian Tiger and Japan(1960-2000). Review of the Development Strategies employed by the Asian Tiger. Lessons for the Nigerian Economy. ECONOMIC HISTORY OF THE ASIAN TIGERS AND JAPAN (1960-2000) The term Asian Tiger refers to a group of countries in the ….  Read More

HUMAN CAPITAL Human Capital refers to the skills, training, experience, education, knowledge, technical know-how and competencies contributed by humans to production process.   Human capital is an important factor of production. It is the value that is added into a company by an employee which can be measured by the employee’s skills and competencies of ….  Read More

FACTORS AFFECTING EFFICIENCY OF HUMAN CAPITAL As an intangible asset,human capital the workforce a company employs. The following factors affect the efficiency of human capital; Education Experience Competence Personal attribute Increase in innovation Skills Health Training   EVALUATION State three differences between Human capital and Physical capital Explain five factors affecting efficiency of Human capital. ….  Read More

PETROLEUM AND THE NIGERIAN ECONOMY CONTENT Historical development of petroleum in Nigeria. Positive Contributions of petroleum to Nigeria Economy. Negative Contributions of Petroleum to Nigeria’s Economy. NNPC – Formation and roles in production refining and marketing of oil. Petroleum was discovered in commercial quantity in 1956 by shell BP at Oloibiri in the present River ….  Read More

MANUFACTURING AND CONSTRUCTION INDUSTRIES CONTENT Definition Types of Manufacturing Industries Contribution of Manufacturing and Construction Sector to Nigeria’s GDP Roles of Manufacturing and Construction in Economy Development. MANUFACTURING INDUSTRIES Manufacturing refers to the turning of raw material into new products by mechanical or chemical processes at home or in the factory. Manufacturing industry is concerned ….  Read More

CONTRIBUTIONS OF INDUSTRIAL SECTOR TO ECONOMIC DEVELOPMENT Industrial sector has contributed greatly to the economic development of all nations in the following ways; Increase in the Gross National Products (GDP) Provision of Employment opportunities Stimulation of other sectors of the Economy Control Inflation due to mass production Infrastructural development Diversification of the economy Funding of ….  Read More

SERVICE INDUSTRY CONTENT Meaning Examples Contribution of services industry to development   SERVICE INDUSTRIES This is also known as the tertiary sector of industry.  It involves the provision of services to business as well as to the final consumers.Service involves doing something for the consumers, which could be personal or indirect services.   EXAMPLES OF ….  Read More

REGULATORY AGENCIES OF FINANCIAL INSTITUTION CONTENT Agencies that regulate money market. Tools/instruments used in money markets. Agencies that regulate capital market. Objectives of regulating capital markets. Tools/instruments used in capital markets. Significance of the agencies in the economy.   Agencies that regulate money market Central Bank of Nigeria (CBN) Nigeria Deposit Insurance Corporation (NDIC)   ….  Read More

CONTRIBUTIONS OF THE SERVICE INDUSTRY TO ECONOMIC DEVELOPMENT The service industry does contribute greatly to the economic development of Nigeria in the following ways: Generation of employment opportunities. Provision of aids to trade Generation of revenue to the government Diversification of the economy Infrastructural development Stimulation of other sectors of the economy Integration of different region in ….  Read More

MONETARY POLICY Monetary Policy is mainly concerned with varying the money supply in the economy. The central bank uses some measures like the bank rate, open market operators, special deposits, directives, cash ratio, etc, all to regulate the volume of money in the economy; thereby checking inflation or deflation when necessary.   INSTRUMENTS OF MONETARY ….  Read More

The group of countries in the South east of Asia whose economies are referred to as Asian Miracle is A. ASEAN B. Asian Tiger C. China D. America. What is needed to boost a country’s economy? A. Debt B. High savings rate C. Transfer payment D. Risk. The value that is added into a company ….  Read More

INTERNATIONAL TRADE I   CONTENT Definition and Types (Bilateral and Multilateral) Reasons for International Trade Barriers of International Trade Difference between Domestic and International trade. One way by which we live better on earth today is because international trade permits national, regional or territorial division of labour to be practiced.  International trade also known as ….  Read More

DEFICIT BALANCE OF PAYMENT CONTENT How to finance deficit balance of payment. Devaluation of currency – meaning and effect. Economic Integration – definition, objective and problems. Balance of trade definition and measurement. Terms of Trade – definition and measurement. Balance of payment (current A/c, capital A/c and monetary movement A/c).   BALANCE OF TRADE Balance ….  Read More

The group of countries in the South east of Asia whose economies are referred to as Asian Miracle is A. ASEAN B. Asian Tiger C. China D. America. What is needed to boost a country’s economy? A. Debt B. High savings rate C. Transfer payment D. Risk. The value that is added into a company ….  Read More

: ECONOMICS CLASS: SS 3   SCHEME OF WORK   WEEK  TOPIC ECONOMIC GROWTH AND DEVELOPMENT ECONOMICS DEVELIPMENT PLANNING INTERNATIONAL ECONOMICS ORGANISATION CURRENT ECONOMIC PLANS ECONOMIC DEVELOPMENT CHALLENGES ECONOMIC REFORM PROGRAMS MOCK AND  WAEC EXAMS

MONEY CONTENT Motives for Holding Money Demand And Supply of Money Elementary Quantity Theory of Money Value of Money And Price Level   DEMAND FOR MONEY Demand For Money: is the total amount of money which an individual, for various reasons, wish to hold. That is, it is the desire to hold money in terms ….  Read More

QUANTITY THEORY OF MONEY The quantity theory of money was propounded by Sir Irving Fisher- an American Economist. Fisher postulated that the value of money depended on the quantity of it that is in circulation. Though this has been traditionally explained as the relationship between the quantity of money in circulation and the amount of ….  Read More

ECONOMIC GROWTH AND DEVELOPMENT   CONTENT Definition and distinction between economic growth and development. Underdevelopment and its characteristics. Solutions to underdevelopment. Strategies for economic development.   Economic Growth: A country is said to achieve economic growth when there is an increase in the volume of National output (National Income) arising from an expansion in production. ….  Read More

INTERNATIONAL ORGANIZATION CONTENT ECOWAS – Origin, objectives, achievements, problems. IBRD – Origin, objectives, achievements, problems. IMF – Origin, objectives, achievements problems. ADB – Origin, objectives, achievements, problems.   ECOWAS The Economic Community of West African States was founded on May 28th 1975 in Lagos, Nigeria.  It comprised all the 16 independent nations of West African. ….  Read More

CURRENT ECONOMIC PLANS CONTENT MEANING AND OBJECTIVE OF MILLENNIUM DEVELOPMENT GOAL MEANING AND OBJECTIVE OF NEEDS MEANING AND OBJECTIVE OF VISION 2020 The millennium development plans are eight international development goal that were officially established following the millennium summit of the United Nations in 2000. OBJECTIVE OF MDGs Goal 1: Eradicate extreme poverty and hunger. ….  Read More

ECONOMIC DEVELOPMENT CHALLENGES CONTENT MEANING AND EFFECT OF POVERTY METHODS OF PVERTY ELLEVIATION AND ERADICATION AGENCIES FOR POVERTY ALLEVIATION HIV/AIDS AND THE ECONOMY CORRUPTION AND ECONOMY POWER AND ENERGY INADEQUANCY   POVERTY Poverty is often used in conjunction with material possessions that belongs to people. it is defined as a lack of a material possession ….  Read More

ECONOMIC REFORM PROGRAMS CONTENT Consolidation of financial institution Privatization and Commercialization EFCC and ICPC NAFDAC SON   Before June 2004, there were 89 banks in Nigeria with 3,382 branches network.  The banking sector was characterized with structural and operational weaknesses such as: Low capital base: Dominance of a few banks. Insolvency and illiquidity Over dependence ….  Read More

  Advantage / Importance of Indigenization Increase in participation of indigenes in the economy Reduction of foreign control of an economy Encouragement of local retention of profits Promotion of Industrialization Creation of employment opportunities Enhancement of self-reliance i.e. reduction in dependency Improvement in standard of living Economic stability is enhanced   Disadvantages of Indigenization Policy ….  Read More

Economic growth is the ________A rateof increase in a country’s full employment and real output.   B. rate of increase in a nations total population rate.C. increase in inflation.D. growth in birthrate. An increase in the quantity of goods and services produced in a country which raises her national income is known as ____ A.  economic ….  Read More

NATIONALIZATION This may be defined as the taking over by the government of privately owned businesses. It involves the transfer of ownership of privately owned business enterprises to the government for economic, social and political reasons. Such industries taken over by the government are known as nationalized industries and the individual owners of the affected ….  Read More

ASSIGNMENT Economic growth is the __________A rate of increase in a country’s full employment and real output.   B. rate of increase in a nations total population rate.C. increase in inflation.D. growth in birthrate. An increase in the quantity of goods and services produced in a country which raises her national income is known as ____ ….  Read More

  SECTION A OBJECTIVES  SSCE 2014 AND OTHERS Human wants are unlimited because A. production is inadequate B. resources have alternative uses.C new wants always arises D. resources are limited Which of the following is related to resource allocation in an economy? A. How to produce B. What to produce C. For whom to produce ….  Read More