Class: Senior Secondary School 1 (SS1, SS 1, SSS1, SSS 1)
Term: 1st Term
Week: 1
Age: 15 years
Duration: 45 minutes
Subject: Economics
Curriculum Theme: Economics
Previous Lesson: .
Topic: Meaning of Economics and Related Concepts
Subject Matter: Definitions, scope, importance and methodology of economics; economics as a science; wants, scarcity, scale of preference, choice and opportunity cost.

Specific Objectives

By the end of the lesson, pupils should be able to:

Cognitive Domain:

Define Economics and state its scope.
Explain economics as a science and describe basic economic methodology.
Define wants, scarcity, scale of preference, choice, and opportunity cost.
Give examples of economic concepts in the daily activities of individuals, firms, and government.

Affective Domain:

Show appreciation for wise use of limited resources.
Show a positive attitude towards careful decision-making and responsible choices.

Psychomotor Domain:

Construct a simple scale of preference using personal needs and available money.
Calculate opportunity cost in simple everyday situations.

Participate actively in group discussion on economic choices in homes, businesses, and government.
Respect others’ opinions during discussion and decision-making activities.

Reference Materials

The following resources were used in planning this lesson:

9 Years Basic Education Curriculum
State Unified Scheme of Work
Recommended Economics textbook for Senior Secondary Schools (e.g., Essential Economics for SSS, Book 1)
IMF Finance & Development: Back to Basics (Economics)
Encyclopaedia Britannica: Economics
Khan Academy: Microeconomics

Instructional Materials

The teacher will teach this lesson with the aid of:

Tables showing wants and available resources
Prepared chart of key terms (wants, scarcity, choice, opportunity cost)
Sample household budget table (income and expenditure)
Cards showing different needs/wants for scale of preference activity
Board and markers/chalk

Rationale for the Lesson

This lesson helps pupils understand how limited resources affect choices in daily life. It also helps pupils make better decisions by knowing what they give up when they choose one option over another.

Prerequisite/Previous Knowledge

Pupils have basic understanding of needs and wants from everyday experience and can relate simple decisions to spending and saving.

Lesson Content/Board Summary

Meaning of Economics

Economics is the study of how individuals, firms, and governments make choices to use scarce resources to satisfy unlimited wants.

Scope of Economics

The following are areas covered by Economics:

Production of goods and services.
Distribution of goods and services.
Consumption of goods and services.
Exchange and price determination in markets.
Allocation of scarce resources among competing uses.

Importance of Economics

The following are importance of Economics:

Helps individuals plan spending and saving.
Helps firms make decisions on production and pricing.
Helps government plan budgets, taxes, and public projects.
Helps society understand causes of poverty and unemployment.
Encourages efficient use of resources.

Economics as a Science

Economics is a social science because it studies human behaviour in relation to scarce resources and choice. It uses facts, observation, and reasoning to explain and predict economic activities.

Methodology of Economics

The following are basic methods used in Economics:

Observation of economic activities in homes, markets, firms, and government.
Collection of data and facts (e.g., prices, income, output).
Formulation of assumptions to simplify real situations.
Use of models, tables, and graphs to explain relationships.
Testing ideas with real-life evidence and drawing conclusions.

Wants

Wants are the things people desire to satisfy their needs and improve comfort. Wants are unlimited.

The following are examples of wants:

Food, clothing, shelter.
Smartphone, data subscription.
Better shoes, new bag, entertainment.

Scarcity

Scarcity means resources are limited and cannot satisfy all human wants at the same time.

The following are examples of scarcity:

Limited money to buy all desired items.
Limited time to read, rest, and play in one day.
Limited land for farming and building.

Scale of Preference

Scale of preference is a list that arranges wants in order of importance, starting from the most important to the least important.

The following are examples of items in a scale of preference:

School fees
Food
Transport
Books
New clothes

Choice

Choice is the selection of one want to satisfy among many competing wants because resources are limited.

The following are examples of choice:

Choosing to buy textbooks instead of new shoes.
Choosing to save money instead of buying snacks daily.
Government choosing to build a hospital instead of a stadium.

Opportunity Cost

Opportunity cost is the value of the next best alternative that is given up when a choice is made.

The following are examples of opportunity cost:

If money is used to buy a phone, the opportunity cost may be a textbook.
If a pupil spends time playing football, the opportunity cost may be time for reading.
If a firm uses funds to buy a new machine, the opportunity cost may be staff training.

Teaching Methods/Instructional Techniques

Discussion, Lecture, Demonstration, Question and Answer, Group Work, Problem Solving, Visual Aids

Instructional Procedures

Step 1: Introduction

Time: 5 minutes
Teaching Skill: Set Induction
Teacher’s Activity: The teacher presents a short scenario of limited pocket money and several items to buy, then asks pupils to mention what they will buy first and why.
Pupils’ Activity: Pupils respond with their choices and reasons based on limited money.
Learning Point: Limited resources lead to choice.

Step 2: Meaning of Economics

Time: 6 minutes
Teaching Skill: Explanation
Teacher’s Activity: The teacher explains the meaning of Economics and relates it to individuals, firms, and government decisions using simple examples.
Pupils’ Activity: Pupils state the meaning of Economics in their own words and give one example each from home or school.
Learning Point: Economics studies how scarce resources are used to satisfy wants.

Step 3: Scope and importance of Economics

Time: 7 minutes
Teaching Skill: Discussion
Teacher’s Activity: The teacher guides a class discussion to list the scope and importance of Economics, using a table to show decisions by individuals, firms, and government.
Pupils’ Activity: Pupils contribute points and copy the summarized points into their notes.
Learning Point: Economics covers production, distribution, and consumption and is useful for decision-making.

Step 4: Economics as a science and methodology

Time: 6 minutes
Teaching Skill: Explanation
Teacher’s Activity: The teacher explains why Economics is a social science and outlines simple methodology using observation, data, and models (tables/graphs).
Pupils’ Activity: Pupils mention two reasons Economics is a science and list two methods used in Economics.
Learning Point: Economics uses scientific methods to explain human behaviour in resource use.

Step 5: Wants and scarcity

Time: 6 minutes
Teaching Skill: Demonstration
Teacher’s Activity: The teacher defines wants and scarcity and uses a simple table showing unlimited wants and limited money/time to illustrate scarcity.
Pupils’ Activity: Pupils give examples of wants and scarcity from daily life.
Learning Point: Wants are unlimited but resources are limited.

Step 6: Scale of preference, choice, and opportunity cost

Time: 10 minutes
Teaching Skill: Group Work
Teacher’s Activity: The teacher arranges group discussion and gives each group a list of wants with limited money, then guides them to create a scale of preference and identify opportunity cost for their choices.
Pupils’ Activity: Pupils arrange wants in order, choose what to satisfy first, and state the opportunity cost of each choice using real-life examples.
Learning Point: Scarcity leads to scale of preference, choice, and opportunity cost.

Step 7: Evaluation/Review

Time: 5 minutes

Teaching Skill: Questioning/Assessment

Teacher’s Activity: The teacher evaluates the learning by asking the following questions:

Define Economics.
List five related concepts studied in Economics.
State the meaning of scarcity and give one example.
Explain opportunity cost with one example from daily life.

Pupils’ Activity: Pupils answer orally and in writing.

Learning Point: Pupils demonstrate understanding of the lesson.

Step 8: Conclusion

Time: 5 minutes
Teaching Skill: Summary and Reinforcement
Teacher’s Activity: The teacher summarizes key terms and their meanings and gives a short assignment: draw a scale of preference of five personal wants and state the opportunity cost of the first choice.
Pupils’ Activity: Pupils copy the summary and assignment and ask questions where needed.
Learning Point: Economics concepts explain everyday decisions and trade-offs.

Lesson Keywords

Economics – the study of choice and use of scarce resources to satisfy wants.
Wants – things people desire; they are unlimited.
Scarcity – limited resources compared to unlimited wants.
Scale of Preference – list of wants arranged by importance.
Choice – selecting one option among many because resources are limited.
Opportunity Cost – the next best alternative given up when a choice is made.
Scope – areas Economics covers, such as production and consumption.
Methodology – methods used to study and explain economic activities.

Differentiation

Support slower learners with prepared tables and guided examples of scale of preference and opportunity cost, while faster learners solve additional real-life scenarios involving individuals, firms, and government choices.

Note for teachers using this lesson plan

Use simple local examples that pupils understand, such as pocket money, transport, and school needs. Ensure pupils clearly link scarcity to choice and opportunity cost, and encourage every group member to contribute during discussion.