Category: All Resources

Elements of National Income Accounting

Explain the meaning of different national income components.
Discuss different ways of measuring national income components.
Explain the short comings of currently used national income concepts;

Balanced and Unbalanced budget

Explain the concepts of budget deficits budget surplus, balanced budget and the component of national debt.
Explain the concept of and criteria for revenue allocation (including resource control) in Nigeria and associated problems.

Elementary treatment of fiscal policy

Explain the concept of total, average and marginal utility.
Discuss the principles of utility maximization and diminishing marginal utility.
Explain why the curve is downward sloping

Agriculture

Identify the main components of agriculture.
Explain the main features of various systems of agriculture.
Explain the importance of agricultural products to economic development using Niigeria as an example.
Explain the process and challenges of marketing both livestock, food and cash crops in Nigeria.

Industries in Nigeria

Distinguish among the following concepts: plant, factory, firm, industry and industrial estate.
Explain the factors that influence the location of industries.
Explain the advantages and disadvantages of localisation of industry.

Market Structures

Explain the concept of market and distinguish it from the market place.
Distinguish between perfect and imperfect markets by being able to identify their features.
Draw graphs to illustrate price and quantity determination under :a)perfect competition (b)monopoly(c) oligopoly

Price Determination

The interaction between the forces of demand and supply in determining the market price.
The effect of changes in demand/supply on the equilibrium price and quantity.
Elasticity of demand and supply with the use of curves and mathematical expressions.
The concept of elasticity to analyse price policy of firms as maximum and minimum price control.

Elementary treatment of Utility Theory

Explain the concept of total, average and marginal utility.
Discuss the principles of utility maximization and diminishing marginal utility.
Explain why the curve is downward sloping

Money: Inflation and deflation

Identify the different types of inflation/deflation, the alternative causes and control measures.
Identify the effects of inflation/deflation
Discuss Nigeria’s inflationary experience and the various control measures adopted by government.

Money: Demand for and supply of money

Describe types of financial institutions and their functions.
Explain elementary Quantity Theory of money.
Identify the determinants of the supply of money.
Explain how changes in the price level affect the purchasing power of money.

Types of Financial Institutions and their functions

Define Money and Capital markets;.
Identify the types and functions of the institutions.
Explain the types and features of securities.
Explain the process of and requirements for accessing the capital market.
List the benefits of the capital market.
Demonstrate the understanding of the meaning, transaction and trading methods in the secondary market.

Types and Features of Economic systems

Describe different economic systems(free enterprise, centrally planned and mixed economy) and how they solve their economic problems.
Distinguish among the systems

Cost Concept 2

At the end of this lesson, the students should be able to understand Cost Concept