### Lesson Plan: Commercial Banks
### Subject: Commerce
### Grade Level: Senior Secondary 1
### Topic: Commercial Banks
### Duration: 70 minutes
#### Objectives:
By the end of this lesson, students should be able to:
1. Define what a commercial bank is.
2. Identify and explain the main functions of commercial banks.
3. Discuss the importance of commercial banks in the economy.
4. Differentiate between different types of bank accounts.
5. Understand the process of opening and operating a bank account.
#### Materials Needed:
- Whiteboard and markers
- PowerPoint presentation or printed handouts
- Internet access (optional for supplementary videos)
- Student notebooks and pens
#### Lesson Outline:
**I. Introduction (10 minutes)**
1. **Greeting and Roll Call** (2 minutes)
2. **Icebreaker Activity:** Ask students how many of them have a bank account and to share one positive experience they’ve had with a bank. (3 minutes)
3. **Introduction to the Topic:**
- Begin with a brief overview of what a commercial bank is and its role in the economy. (5 minutes)
**II. Direct Instruction (30 minutes)**
1. **Definition and Overview** (5 minutes)
- A commercial bank is a financial institution that accepts deposits from the public, offers checking account services, makes various loans, and provides basic financial products like savings accounts to individuals and businesses.
2. **Functions of Commercial Banks** (15 minutes)
- **Accepting Deposits:** Explain different types of deposits (demand deposits, term deposits).
- **Providing Loans and Advances:** Discuss different types of loans (personal loans, business loans, mortgages).
- **Credit Creation:** Explain how banks create credit and its importance in the economy.
- **Payment and Settlement Services:** Discuss services such as online banking, mobile banking, and credit/debit card transactions.
3. **Types of Bank Accounts** (10 minutes)
- **Checking Account:** Characteristics, benefits, who should use it.
- **Savings Account:** Characteristics, benefits, who should use it.
- **Fixed Deposit Account:** Characteristics, benefits, who should use it.
- **Current Account:** Characteristics, benefits, who should use it.
**III. Interactive Discussion (10 minutes)**
1. **Q&A Session:**
- Encourage students to ask questions about the functions and services offered by commercial banks. (5 minutes)
2. **Group Discussion:**
- Divide students into small groups and ask them to discuss the role of commercial banks in economic development. (5 minutes)
**IV. Activity (15 minutes)**
1. **Role-play Activity:**
- Divide the class into small groups. Assign each group to role-play as bank employees and customers.
- One group will demonstrate the process of opening a new bank account, while another will showcase the process of applying for a loan.
- Debrief after each role-play to ensure understanding. (10 minutes)
**V. Conclusion (5 minutes)**
1. **Summarize Key Points**:
- Recap the main functions of commercial banks, types of bank accounts, and their roles in the economy.
2. **Assign Homework:**
- Ask students to pick any commercial bank and research its services and write a short report about it.
**VI. Closing Remarks (5 minutes)**
1. **Feedback:**
- Ask students to share one new thing they learned today.
2. **Preview of Next Lesson:**
- Give a brief overview of what to expect in the next class related to commerce.
#### Assessment:
- Students will be assessed based on their participation in the role-play activity and the quality of their group discussions.
- Review the homework assignment to ensure students understand the commercial banking system.
#### Homework:
- Write a one-page report on the services offered by a commercial bank of their choice.
This lesson plan aims to provide students with a comprehensive understanding of commercial banks, their crucial functions in the economy, and practical knowledge about different types of bank accounts.