SSS 2 Economics

Lesson Breakdown

LESSON 1: STUDENT READINESS & BASIC TOOLS

Topics:
1.1 – Assessment Test
1.2 – Basic Tools for Economic Analysis
1.3 – Measure of Central Tendency (Mean using grouped data)
1.4 – Measure of Central Tendency (Median using grouped data)
1.5 – Measure of Central Tendency (Mode using grouped data)
Description:
Provides a statistical foundation for economic analysis, focusing on data interpretation and measures of central tendency.

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LESSON 2: MEASURES OF DISPERSION & EQUATIONS

Topics:
2.1 – Measure of Dispersion (Range, Variance, Mean Deviation, Standard Deviation)
2.2 – Simple Linear Equations (Simultaneous Equations)
Description:
Covers data variability measurements and introduces mathematical tools for solving economic problems.

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LESSON 3: THEORY OF CONSUMER BEHAVIOUR

Topics:
3.1 – Concepts of Utility (Total, Average, Marginal Utility)
3.2 – Law of Diminishing Marginal Utility and Demand Curve
3.3 – Utility Maximization
Description:
Explores how consumers make choices based on satisfaction maximization and how this affects demand patterns.

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LESSON 4: DEMAND AND SUPPLY

Topics:
4.1 – Change in Quantity Demanded vs. Change in Demand
4.2 – Change in Quantity Supplied vs. Change in Supply
4.3 – Effects of Changes on Equilibrium Price and Quantity
Description:
Fundamental market forces analysis, distinguishing between movements along curves and shifts of curves.

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LESSON 5: ELASTICITY OF DEMAND

Topics:
5.1 – Meaning, Types, and Measurement of Elasticity of Demand
5.2 – Importance to Customers, Producers, and Government
Description:
Measures responsiveness of quantity demanded to price changes and its practical implications.

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LESSON 6: ELASTICITY OF SUPPLY

Topics:
6.1 – Meaning, Types, and Measurement of Elasticity of Supply
6.2 – Importance to Consumers, Producers, and Government
Description:
Examines how producers adjust quantity supplied in response to price changes.

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LESSON 7: INCOME ELASTICITY OF DEMAND

Topics:
7.1 – Definition, Types, Measurement
7.2 – Types (Positive and Negative)
7.3 – Measurement of Income Elasticity
Description:
Analyzes how changes in consumer income affect demand for different types of goods.

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LESSON 8: CROSS ELASTICITY OF DEMAND

Topics:
8.1 – Meaning, Measurement, and Types of Cross Elasticity
Description:
Studies the relationship between price changes of one good and demand for related goods.

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LESSON 9: PRICE CONTROL

Topics:
9.1 – Price Legislation: Meaning and Types
Description:
Examines government interventions in markets through price ceilings and floors.

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LESSON 10: RATIONING AND HOARDING

Topics:
10.1 – Meaning of Rationing and Hoarding
10.2 – Effects of Rationing and Hoarding
10.3 – Black Market and Its Effects
Description:
Analyzes the consequences of scarcity, government allocation systems, and illegal market activities.

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Key Learning Outcomes:

• Quantitative Skills: Statistical analysis, equation solving, elasticity calculations
• Market Understanding: Demand/supply dynamics, equilibrium analysis, price mechanisms
• Policy Analysis: Evaluation of government interventions and market distortions
• Consumer Theory: Utility maximization and decision-making processes

Target Audience: Secondary school economics students or introductory microeconomics learners.

Assessment Pattern: Each lesson includes quizzes and a final exam, emphasizing application-based learning.