DEMAND.
SUPPLY.

Definition of demand. Factors influencing demand.
Factors influencing demand.
Demand schedule for an individual or entire market.
Demand curves.
Movement along, and shift in demand curves.
Factors influencing supply of a product.

By the end of the lesson, the learner should be able to:
Define demand and effective demand.
State factors that influence demand of a commodity.
Explain factors that influence demand of a commodity.
Prepare and interpret a demand schedule for an individual or entire market.
Illustrate law of demand graphically.
Explain movement along the demand curve.
Illustrate an increase / decrease in demand graphically.

Brain storming;
Exposition;
Discussion.

Explanations;
Interpreting a demand schedule;
Brief discussion.
Guided plotting of demand curves.
Q/A: review law of demand.
Curve sketching & explanations.

text book
Graph papers.
Chart- increasing and decreasing -supply.
chart

New Inventor
KLB BOOK III
Pg 1

SUPPLY.
SIZE AND LOCATION OF A FIRM
SIZE AND LOCATION OF A FIRM
SIZE AND LOCATION OF A FIRM
SIZE AND LOCATION OF A FIRM
SIZE AND LOCATION OF A FIRM

Supply schedule and supply curve.
Movement along the curve.supply curve.
Shift in supply curve.
Equilibrium price and equilibrium quantity.
Equilibrium price and quantity. (graphical method)
Effects of change in demand on the equilibrium.
Effects of change in supply on the equilibrium.
Excess demand and excess supply.
Other methods of determining the price of a product.
Concept of firm and industry.
Size of a firm.
Location of a firm.
Localization of a firm.
Delocalization of a firm.

By the end of the lesson, the learner should be able to:
Draw supply curve from a supply schedule.
Explain changes in supply with changes in prices of the commodity.
Identify incidents where a supply curve expands to the right or left.
Explain the effect of decreasing supply.
Define the terms equilibrium price and equilibrium quantity.
Use demand and supply schedule to determine equilibrium price.
Determine equilibrium price and equilibrium quantity graphically.
Explain the effects of change in demand on the equilibrium.
Explain the effects of change in supply on the equilibrium.
Define excess demand and excess supply.
Outline other methods of determining the price o a product.
Differentiate between a firm and an industry.
Identify factors influencing goods and services to produce.
Outline ways of determining size of a firm.
Identify factors influencing location of a firm.
Outline factors that encourage localization of a firm.
State advantages and disadvantages of localization of a firm.
Outline factors that encourage delocalization of a firm.
State advantages and disadvantages of delocalization of a firm.

Practical exercise.
Probing questions,
Graphical illustrations.
Exposition;
discussion
Examine schedules;
Make deductions;
Discussion.
Graphical methods;
Make deductions.
Explanations and graphical illustrations.
Brain storming;
Discussion & graphical illustrations.
Probing questions;
Exposition of new concepts;
Oral questions;
Guided discussion.
Detailed discussion.
Oral questions;

chart
text book
Demand and supply schedule.
Graph papers.

New Inventor KLB BOOK III Pg 14-15

SIZE AND LOCATION OF A FIRM
PRODUCT MARKETS
PRODUCT MARKETS
PRODUCT MARKETS
PRODUCT MARKETS
PRODUCT MARKETS
PRODUCT MARKETS

Internal economies of scale. External economies of scale.
Internal and external diseconomies of scale.
Existence of small firms.
Negative impact of production activities on the environment.
Maintaining a healthy environment.
Introduction.
Perfect competition market.
Monopoly.
Monopoly power.
Monopolistic competition.
Oligopoly.

By the end of the lesson, the learner should be able to:
Define the term economy of scale.
Outline various economies of scale associated with a firm.
Outline benefits accruing to a firm as a result of growth of the whole industry.
Define the term diseconomies of scale.
Highlight some internal and external diseconomies of scale.
Give reasons that contribute to existence of small firms.
Highlight adverse effects arising from production activities.
Outline factors that contribute to a healthy business environment.
Define the term market and marketing.
Identify elements that dictate the type of market.
Outline features of a perfect market.
Identify features of a monopoly market.
Outline ways of acquiring a monopoly power.
Outline features of a monopolistic competition.
Describe price & output determination under monopolistic competition.
Describe features of an oligopolistic market.

Exposition of new concepts.
Discussion.
Oral questions;
Brain storming;
Probing questions and discussion on
adverse effects of air pollution, water pollution, noise pollution & solid waste pollution.
Probing questions;
Guided discussion.
Exposition of new ideas; Detailed discussion.
Exposition, discussion and sketching illustrative graphs.
Exposition;

text book
chart
chat,text book

New Inventor KLB BOOK III Pg 29-30

PRODUCT MARKETS
CHAIN OF DISTRIBUTION
CHAIN OF DISTRIBUTION
CHAIN OF DISTRIBUTION
CHAIN OF DISTRIBUTION
CHAIN OF DISTRIBUTION
CHAIN OF DISTRIBUTION
NATIONAL INCOME.
NATIONAL INCOME.
NATIONAL INCOME.
NATIONAL INCOME.
NATIONAL INCOME.
NATIONAL INCOME.

The kinked demand curve.
Channels of distribution.
Distribution of local agricultural produce.
Distribution of locally manufactured goods.
Distribution of imported goods.
Roles played by intermediaries in the distribution chain.
Choice of distribution channel.
Meaning of national income, GDP, NDP, GNP & NNP. Per capita income.
Circular flow of income.
Factors affecting circular flow of income.
Expenditure approach of determining national income.
Income approach of determining national income.
Output approach of determining national income.

By the end of the lesson, the learner should be able to:
Interpret the kinked demand curve.
Define the term channel of distribution.
Identify common channels of distribution.
Describe distribution of local agricultural produce.
Describe distribution of locally manufactured goods.
Describe distribution of imported goods.
Outline roles played by intermediaries in the distribution chain.
Explain factors influencing choice of distribution channel.
Define terms related to national income.
Describe the circular flow of income.
State assumptions made in circular flow of income.
Outline factors that affect circular flow of income.
Determine national income using expenditure approach.
List down problems associated with expenditure approach.
Determine national income using income approach.
List down problems associated with income approach.
Determine national income using output approach.
List down problems associated with output approach.

Curve sketching;
Discussion.
Brain storming;
Probing questions;
Brief discussion.
Draw a flow chart;
Probing questions;
Oral questions;
Exposition of new concepts, explanations & discussion.
Exposition of concepts.
Exposition of new concepts, explanations & discussion;
Calculations.
Exposition of new concepts;
Guided discussion;

text book
Chart ?channels of distribution of local agricultural produce
Flow chart.
Illustrative flow charts.
Chart: circular flow of income.
Calculators,text book
Calculators.

New Inventor KLB BOOK III Pg 47-48

NATIONAL INCOME.
POPULATION & EMPLOYMENT.
POPULATION & EMPLOYMENT.
POPULATION & EMPLOYMENT.
POPULATION & EMPLOYMENT.
POPULATION & EMPLOYMENT.
POPULATION & EMPLOYMENT.
POPULATION & EMPLOYMENT.
POPULATION & EMPLOYMENT.
POPULATION & EMPLOYMENT.
POPULATION & EMPLOYMENT.
POPULATION & EMPLOYMENT.

Uses of national income statistics.
Levels of national income.
Population growth.
Optimum population.
Under-population.
Over-population.
Young population.
Ageing population.
Declining population.
Population structure.
Employment and unemployment.
Causes of unemployment.
Solving unemployment problems.

By the end of the lesson, the learner should be able to:
Outline uses of national income statistics.
Highlight factors that influence the levels of national income.
Outline factors associated with population growth.
List factors that are likely to lead to either high or low birthrates.
Calculate population growth rate.
Define the term optimum population.
Illustrate the concept of optimum population graphically.
Explain what optimum population depicts.
Cite factors that lead to under population.
State demerits of under -population.
Cite factors that lead to over population.
State advantages and disadvantages of over-population.
Cite factors that may lead to young population.
State advantages and disadvantages of a young population.
Outline challenges of a young population.
Identify problems associated with ageing population.
State factors that may lead to ageing population.
State factors that may lead to a declining population.
Outline effects of a declining population.
Differentiate between a young population and an ageing population.
Define the term population structure.
Explain implications of population size and structure on development.
Define the term employment.
Identify types of unemployment.
Outline the main causes of unemployment.
Suggest some possible solutions to unemployment problems in Kenya.

Exposition of new concepts;
Probing questions;
Guided discussion.
Guided discussion;
Review exercise.
Brain storming;
Calculations.
Illustrative curve sketching.
Oral questions;
Exposition;
Q/A to review young population;
Discussion on ageing and declining populations.
Probing questions;
Drawing an illustrative population pyramid; Discussion.
Exposition and discussion on new concepts associated with unemployment.
Q/A and brief discussion
Group discussions & presentations;

text book
Chart- optimum population.
Chart- under population.
Chart- over population.
Chart- population structure pyramid.,
Diagram of vicious cycle of rapid population growth.

New Inventor KLB BOOK III Pg 66-67

NET WORTH OF A BUSINESS.
BUSINESS TRANSACTIONS
BUSINESS TRANSACTIONS
BUSINESS TRANSACTIONS
BUSINESS TRANSACTIONS
BUSINESS TRANSACTIONS

Basic terms used in business.
Book-keeping Equation.
Balance sheet.
Importance of a balance sheet.
Book-keeping equation and balance sheet.
Net worth of a business.
Topic review.
Types of business transactions.
Effects of transactions on the balance sheet.
Changes in capital: Drawing.
Additional investments.
Profit & losses.

By the end of the lesson, the learner should be able to:
Define basic terms used in business.
State characteristics of assets / liabilities.
Identify sources of assets.
Derive and explain the bookkeeping equation.
Define the term balance sheet.
Prepare a balance sheet.
Explain importance of a balance sheet.
Relate book-keeping equation with balance sheet
Determine a business net worth using book-keeping equation and a balance sheet.
Answer questions correctly.
Give examples of business transactions.
Define the term deferred payment.
Give examples of credit transactions.
Determine the effects of transactions on the balance sheet.
Explain how drawings affect capital.
Explain how additional investments affect capital.
Determine the solvency of a business.

Brief discussion on the terms debtor, creditor, asset, liability and capital.
Use a concrete example to arrive at the book-keeping equation.
Apply the book-keeping equation.
Supervised practice.
Guided preparation of a balance sheet.
Assignment.
Probing questions;
Discussion.
Guided discovery;
Discussion.
Answer numerical questions.
Exercise review.
Oral questions;
Brief guided discussion.
Worked examples;
Supervised exercise;
Guided discovery.
Worked examples
Exercise.
Work through an example.
Q/A : review meaning of terms profit and loss.
Work through examples.

text book
chart

New Inventor KLB BOOK III Pg 92-95

BUSINESS TRANSACTIONS
THE LEDGER.
THE LEDGER.
THE LEDGER.
THE LEDGER.
THE LEDGER.
THE LEDGER.
THE LEDGER.
THE LEDGER.
THE LEDGER.

Initial and final capital of a business.
Meaning and purpose of a ledger.
Rules of recording transactions in ledger accounts.
The concept of double entry.
Recording business transactions in ledger accounts.
Purchase of goods and purchase of stock in cash / on credit.
Purchase returns.
Sale returns.
Expenses in ledger account.
Revenues in ledger accounts.

By the end of the lesson, the learner should be able to:
Compute the capital at the end of a given period.
Identify features of a ledger.
Explain the purpose of a ledger.
Record transactions in a ledger A/Cs.
Apply the rule of double entry.
Record accounting transactions in ledger A/Cs.
Record purchase of stock in cash / on credit.
Post entries of purchase returns to ledger account.
Record sales returns in ledger account.
Record expenses in ledger account.
Record revenues in the ledger account.

Work through examples;
Group activities;
Guided discussion.
Exposition of new concepts and detailed discussion.
Exposition and summary in tabular form
Further worked examples;
Supervised practice.
Assignment.
Exposition;
Oral questions;
Guided discovery.
Guided discovery;
Numerous examples.
Worked examples;
Practical activity;

text book
A ledger book.
A ledger.
Ledger.
The Ledger.

New Inventor KLB BOOK III Pg 111

THE LEDGER.
THE CASH BOOK
THE CASH BOOK
THE CASH BOOK
THE CASH BOOK

Drawings in ledger accounts.
Balancing ledger accounts.
Balancing an account with only one entry.
Uses of ledger accounts.
Trial balance. Purpose of a trial balance.
Limitations of a trial balance.
Classification of ledger accounts.
The general ledger.
Topic review.
Types of cash books. Single- column cash book.
The two- column cash book.
Ledger accounts from three-column cash book.
The three-column cash book.

By the end of the lesson, the learner should be able to:
Record drawings in a ledger account.
Balance ledger accounts.
Balance an account with only one entry.
Outline uses of ledgers.
Identify features of a trial balance.
Explain the purpose of a trial balance.
Outline limitations of a trial balance with reference to ?hidden? errors.
Outline errors that may cause a trial balance not to balance.
Distinguish personal from impersonal accounts.
Outline types of ledgers.
Outline features of the general ledger.
Answer review questions correctly.
List types of cashbooks.
Identify features of a single-column cash book.
Post entries in a single-column cash book.
Balance off the two- column cash book.
Post transactions from three-column cash book to ledger accounts.
Record transactions in a three-column cash book.
Balance off the three- column cash book.

Practical activity;
Worked examples;
Supervised practice.
Oral questions;
Guided discovery;
Numerous examples.
Worked examples.
Probing questions;
Guided discussion.
Q/A: review meaning of a trial balance;
Guided discussion.
Exposition of new concepts;
Discussion.
Answer questions from revision exercise.
Written assignment.
Supervised exercise.
Illustrated examples;
Worked examples illustrating transactions in a 3- column cash book.
Written exercise.

The Ledger.
chart
Chart ?classes of accounts and appropriate ledgers.
Single-column cash book.
Two-column cash book.
3-column cash book, the ledger.
3-column cash book.

New Inventor KLB BOOK III Pg 132

SOURCE DOCUMENTS & BOOKS OF ORIGINAL ENTRY

Source documents Introduction. Cash receipt.
Invoice.
Debit note and credit note.
Payment voucher & petty cash voucher.
Books of original entry. Sales journal.
Posting from sales journal to sales ledger and general ledger.
Sales returns journal.
Posting entries to the general ledger and sales ledger.
Purchases journal.
Purchases return journal.
Cash receipt journal.
Cash payment journal.
The petty cash book with imprest system.
Analysis cash book.
General journal.
Transactions passed through the general journal.
Importance of journals.

By the end of the lesson, the learner should be able to:
Define a source document.
Give examples of source documents.
Describe features of a cash / cheque receipt.
Outline details of an invoice.
Define a debit note and a credit note.
Explain purposes of credit notes and credit note.
Identify entry features of a payment voucher & petty cash voucher.
Highlight features of a sales journal.
Prepare a sales journal given credit sales.
Transfer entries from a sales journal to a sales ledger and general ledger.
Explain purpose of a sales returns journal.
Prepare a sales return journal.
Post entries from sales return journal to the general ledger and the sales ledger.
Prepare a purchases journal given some transactions.
Post entries from the journal to the purchases return ledger.
Identify features of a cash receipt journal.
Post entries from the journal to the general ledger, cash book and debtors ledger.
Prepare a cash payment journal.
Post cash payment journal entries to ledger accounts correctly.
Make entries in a petty cash book.
Post entries from the book to ledger accounts.
Record transactions in an analysis cash book.
Record transactions in a general journal.
Identify transactions that are passed through the general journal.
State reasons for maintaining journals.

Exposition of new terms;
Brain storming;
Brief discussion.
Examine an invoice.
Probing questions on details of an invoice;
Discussion.
Examine a debit note and a credit note.
Brief discussion on features of the notes.
Examine a payment voucher & petty cash voucher.
Brief discussion;
Illustrated example.
Discussion on illustrated examples.
Examine a sales return journal.
Discussion on its features Illustrated example: preparing a sales journal given a number of transactions.
Illustrated example;
Supervised practice.
Written exercise.
Exposition of new concepts;
Illustrated example on preparing a purchases journal given a number of transactions.
Illustrated examples;
Group assignments.
Worked examples;
Discussion;
Detailed discussion.
Probing questions;
Topic review & summary;
Review of written exercises.

Cash receipts
Invoices.
Debit note and credit note.
Payment voucher & petty cash voucher.
Sales journal.
Sales ledger.
Sales returns journal sample page.
Sales return journal sample page.
Purchases journal sample page.
Purchases return journal sample page.
Cash receipt journal.
Illustrated cash payment ledger.
Illustrated petty cash book.
Cash analysis sample page.
General journal sample page.
text book

New
Inventor
K.L.B.
BK IV.
Pg 1-2

FINANCIAL STATEMENTS

Introduction. Trading Period.
Gross Profit or Loss.
The Trading Account.
Net Profit or Loss.
Profit or loss account.
Profit and loss account from a trial balance.
The Balance Sheet.
The Balance Sheet from a trial balance.
Types of Capital.
Types of capital in a balance sheet.

By the end of the lesson, the learner should be able to:
Give examples of financial statements.
Explain the concept of a trading period of a business.
Determine the gross profit or loss of a business.
Define the term trading account.
Illustrate trading accounts with worked examples.
Define the terms net profit net loss.
Determine net profit or loss.
Prepare profit or loss accounts.
Prepare profit or loss accounts from a trial balance.
Prepare a balance sheet after making adjustments on capital for specific items.
Prepare a balance sheet from a trial balance.
Outline types of capital.
Illustrate types of capital with balance sheet.

Brainstorming, Q/A & Explanations.
Go through worked examples using various approaches.
Supervised practice;
Group assignments.
Q/A to review the process of obtaining gross profit or loss.
Worked examples.
Supervised practice.
Assignment.
Brief discussion on distinction between gross and net profit / loss;
Worked examples;
Written exercise.
Detailed discussion;
Written exercise.
Exposition of adjustments made on capital for net profit, drawings and additional capital.
Worked examples and Exercises.
Q/A to review a trial balance;
Probing questions;
Teacher?s explanations.
Illustrative examples.

text book
charts
chart
magazines,charts

New Inventor K.L.B. BK IV. Pg. 54

FINANCIAL STATEMENTS
MONEY & BANKING
MONEY & BANKING
MONEY & BANKING
MONEY & BANKING
MONEY & BANKING

Basic financial ratios: - Mark-up.
- Margin.
Using mark-up or margin to prepare a trading account.
Current ratio or Working capital ratio.
Rate of stock turnover.
Stock turn-over and trading account.
Return on Capital.
Acid test or quick ratio.
Introduction. Barter trade.
Money system Characteristics of money.
Functions of money.
Demand for money (liquidity preference)
Supply of money. Banking System.

By the end of the lesson, the learner should be able to:
Define the term mark-up.
Explain why mark up is important in a business.
Determine business mark up.
Define the term margin.
Explain why margin is important in a business.
Determine business margin.
Work out the mark-up given the margin and vice-versa.
Define the term current ratio or working capital ratio.
Explain importance of current ratio.
Calculate current ratio given various balances.
Define the terms turn over and rate of stock turn over.
Calculate the rate of stock turn over.
Prepare the trading account given the rate of stock turn-over.
Define the term return on capital.
Calculate return on capital.
Explain implications of return on capital on a business.
Determine the quick ratio given current assets, stock and current liabilities.
Explain the concepts of money and banking.
Describe merits and demerits of barter trade.
State characteristics of money.
Explain major functions of money.
Define the term demand for money.
Explain the motives that influence the desire to keep money instead of other assets.
Define the term supply of money.
Identify various monetary items that are in circulation in an economy.
Identify elements of banking system in Kenya.

Q/A: definition of a ratio.
Teacher exposes and explains the new concepts then leads in an example.
Exposition of new concept;
Worked examples;
Written exercise.
Guided discovery on the relationship.
Illustrative examples.
Exposition & Worked examples;
Discussion.
Exposition, Worked examples & numericals
Discussion: implications of rate of stock turnover on a business.
Illustrative examples & supervised practice.
Brief discussion;
simple problem solving;
Assignment.
Exposition of new concepts;
Simple calculations.
Brain storming;
Brief discussion.
Brainstorming and superficial discussion.
Probing questions;
Q/A: review the term demand.
Exposition and probing questions.
Q/A: review the term supply.
Expository approach
Analyse the hierarchy of banks in Kenya.
Give examples of banks in each category.

chart,text book
text book
text book,chart
chart
chart, text book
Business Magazines.

New Inventor K.L.B. BK IV. Pg. 70-71

MONEY & BANKING
PUBLIC FINANCE
PUBLIC FINANCE
PUBLIC FINANCE
PUBLIC FINANCE
PUBLIC FINANCE
PUBLIC FINANCE
PUBLIC FINANCE
PUBLIC FINANCE
PUBLIC FINANCE
INFLATION
INFLATION
INFLATION

Development of Banking. Commercial Banks.
Services offered by commercial banks.
Non-banking financial institutions.
Functions of the Central bank.
Trends in banking.
Purpose of public finance. Sources of public finance.
External borrowing.
Government expenditure. Principles of public expenditure.
Taxation.
Principles of taxation.
Impact and incidence of tax. Classification of taxes on basis of structure.
Classification of taxes on basis of impact on the tax payer. - Direct tax.
Classification of taxes on basis of impact on the tax payer. - Indirect tax.
Topic summary / review
Introduction Consumer Price index
Simple and weighted price relatives.
Types of inflation. Causes of demand- pull inflation.

By the end of the lesson, the learner should be able to:
Outline a brief history on development of banking.
Identify methods employed by commercial banks to generate profits.
Identify services offered by commercial banks.
Describe other services offered by commercial banks.
Cite examples of non-banking financial institutions.
State functions of non-banking financial institutions.
Outline differences between commercial bank and NBFI.
Identify objectives and functions of the Central Bank.
Describe banking policies on types of account, use of computers, ,ATMs, m-banking, Mpesa,
e-banking.
Differentiate between internal and external borrowing.
Differentiate between reproductive debt and dead weight debt.
Identify types of govt?s expenditure.
Differentiate between recurrent and development expenditure.
Outline principles of public expenditure.
Define the term taxation.
Identify methods that the give reasons for taxation.
Explain basic principles of taxation.
Differentiate between impact and incidence of tax.
Classify taxes according to structure.
State merits and demerits of taxing people according to structure.
Classify taxes according to impact on the taxpayer.
State and explain merits and demerits of direct tax.
State merits and demerits of Indirect tax.
Tackle review question,
Define the terms inflation and deflation.
Define the term CPI.
Compute CPI.
Compute the price index using simple average of price relatives.
Compute the price index using the weighted average method.
outline types of inflation.
Explain the term demand-pull inflation.
Explain causes of demand ?pull inflation.

Exposition and probing questions;
Detailed discussion.
Discussion on lending money, safekeeping of valuable items, money transfer facilities, e.g. standing order, cheques, savings and current accounts, time deposits.
Exposition;
Brief discussion;
Probing questions.
Exposition of new ideas;
Guided discussion.
Brain storming;
Discussion.
Brainstorming.
Brief discussion.
Exposition & discussion.
Explanations.
Give examples and explanations.

Guided discussion on direct taxes.
Q/A and guided discussion.
Problem solving.Revision;
Guided discussion and computations.
Guided computations.
Supervised practice.
Teacher exposes new concepts related to inflation types.
Expository and descriptive approaches.

text book
chart,text book
Business Magazines.
Newspaper cuttings & relevant magazines.
Price relative tables.

New Inventor K.L.B. BK IV. Pg. 101-103

INFLATION
INTERNATIONAL TRADE
INTERNATIONAL TRADE
INTERNATIONAL TRADE
INTERNATIONAL TRADE
INTERNATIONAL TRADE
INTERNATIONAL TRADE
INTERNATIONAL TRADE
INTERNATIONAL TRADE
ECONOMIC INTEGRATION
ECONOMIC INTEGRATION
ECONOMIC INTEGRATION
ECONOMIC INTEGRATION
ECONOMIC INTEGRATION
ECONOMIC DEVP AND PLANNING
ECONOMIC DEVP AND PLANNING
ECONOMIC DEVP AND PLANNING
ECONOMIC DEVP AND PLANNING
ECONOMIC DEVP AND PLANNING

Causes of cost- pull inflation.
Levels of inflation & Effects of inflation on the economy of a country.
Controlling inflation.
Balance of Payments. (Current A/C)
Balance of Payments. (Capital A/C)
Overall Balance of Payments.
The Official Settlement A/C.
Disequilibrium of Balance of payments. Correction of balance of payment disequilibrium.
Terms of sale in international trade.
Documents used in international trade.
IMF, ADF and World bank.
Forms & importance of economic integration.
Trade restrictions.
Methods of trade restrictions.
Advantages and disadvantages of trade restrictions.
Trends in international trade.
Growth and development.
Underdevelopment.
Factors for underdevelopment.
Development planning.
Problems encountered in development planning.

By the end of the lesson, the learner should be able to:
Explain the concept of cost-pull inflation.
Explain the causes of cost-pull inflation.
Highlight various levels of inflation.
Outline positive and negative effects of inflation.
Identify some policies adopted by the govt to reduce or control inflation.
Define the term balance of payments.
Analyse components of balance of payments.
(Current A/C).
Cite examples of transactions that affect the Capital A/C.
Determine the overall balance of payments.
Define the Official Settlement A/C.
Identify causes of Disequilibrium of Balance of payments.
Outline methods of correcting of balance of payment disequilibrium.
Identify common terms of sale in international trade.
Identify major documents used in international trade.
State objectives of IMF, ADF and World bank..
Trace a background to the growth of specific
development funds.
Define economic integration.
Identify forms of economic integration.
Outline forms of economic integration.
Analyze importance of economic integration.
Enumerate advantages and disadvantages of free trade.
Cite reasons for trade restrictions.
Outline methods of trade restriction.
Highlight some methods used to control trade restrictions.
State advantages and disadvantages of trade restrictions.
Analyse some current trends in international trade.
Define economic growth of a country.
Identify structural changes that may accompany economic development.
Identify characteristics of under - development
Highlight some factors that impede development.
Site some objectives of planning.
Give reasons why development planning is necessary.
State problems encountered in development planning.

Expository and descriptive approaches with probing questions.
Probing questions;
Discussion..
Discussion on: control of money supply, control of demand, cost control.
Exposition of new concepts and detailed discussion.
Q/A: review types of capital.
Q/A: review current A/C and capital A/C.
Illustrative examples.
Assignment.
Guided brief discussion.
Exposition of new concepts & explanations;
Discussion.
Exposition & explanations;
Give examples of relevant documents.
Give examples of relevant documents.
Brain storming;
Q/A review relevant terms.
Probing questions
& guided discussion.
Q/A & guided discovery.
Q/A & exposition.
Exposition of new concepts.
Probing questions and brief discussion on EPZ, liberalization e-trade &website.
Guided discussion & oral questions.
Brainstorming, questioning & discussion.
Q/A guided discussion.
Probing questions /guided discussion.
Quiz.

Newspaper cuttings & relevant magazines.
text book
newspaper

Pg. 152