### Lesson Plan: Introduction to Central Bank
#### Level: Senior Secondary 1
#### Duration: 60 minutes
#### Subject: Commerce
#### Topic: Central Bank
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### Objectives:
By the end of this lesson, students will be able to:
1. Define what a central bank is.
2. Understand the key functions of a central bank.
3. Differentiate between central banks and commercial banks.
4. Recognize the role of central banks in a country's economy.
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### Materials Needed:
1. Whiteboard and markers
2. Projector and computer
3. Presentation slides
4. Handouts with key points
5. Case studies/examples of central banks (e.g., Federal Reserve, European Central Bank)
6. Worksheets for group activities
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### Lesson Flow:
#### Introduction (10 minutes)
1. **Greeting and Attendance**
- Welcome the students.
- Take attendance.
2. **Hook**
- Show a short video clip or news segment highlighting a major decision by a central bank (e.g., interest rate announcement by the Federal Reserve).
3. **Brief Discussion**
- Ask students what they know about central banks.
- Write their responses on the board to gauge prior knowledge.
#### Presentation (20 minutes)
1. **Definition & Importance**
- Present the definition of a central bank using slides.
- Explain why central banks are crucial for economic stability.
2. **Key Functions of a Central Bank**
- Monetary Policy: Explain how central banks control inflation and stabilize currency using tools like interest rates.
- Issue of Currency: Discuss how central banks are responsible for printing and regulating the nation’s money supply.
- Banker to the Government: Explain the role of central banks in managing government accounts and debts.
- Supervision of the Financial System: Discuss how central banks oversee and regulate commercial banks to ensure stability.
3. **Central Bank vs Commercial Bank**
- Draw a table on the board comparing the two types of banks focusing on their primary activities, objectives, clientele, and regulatory roles.
#### Class Activity (15 minutes)
1. **Group Work**
- Divide the class into small groups.
- Hand out case studies/examples of central banks (e.g., the Federal Reserve, the European Central Bank, the Central Bank of Nigeria).
- Each group discusses the specific roles and recent activities of their assigned central bank.
2. **Presentation**
- Have each group present their findings in 2-3 minutes.
- Facilitate a brief Q&A after each presentation.
#### Wrap-Up/Conclusion (10 minutes)
1. **Recap**
- Summarize the key points covered:
- Definition of a central bank
- Key functions
- Differences between central and commercial banks
- Case study insights
2. **Q&A Session**
- Open the floor for any final questions.
- Encourage students to think about the role of central banks in current economic events.
#### Assignment (5 minutes)
1. **Independent Work**
- Distribute a worksheet with questions related to the lesson for homework.
- Questions may include:
- Describe two key functions of a central bank.
- Explain how a central bank can influence the economy.
- Compare the roles of central banks and commercial banks.
#### Closing (5 minutes)
1. **Final Thoughts**
- Reiterate the importance of understanding central banks for anyone interested in commerce and economics.
- Announce the topic for the next class.
2. **Goodbye**
- Thank the students for their participation.
- Dismiss the class.
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