Lesson Notes By Weeks and Term - Junior Secondary School 3

Week: 11

Class: Junior Secondary School 3

Age: 14 years

Duration: 40 minutes

Date:

Subject:      Social studies

Topic:-       Economic institutions

SPECIFIC OBJECTIVES: At the end of the lesson, pupils should be able to

1. Define economic institutions
2. Discuss the types of economic institutions
3. State the functions of economic institutions

INSTRUCTIONAL TECHNIQUES: Identification, explanation, questions and answers, demonstration, videos from source

INSTRUCTIONAL MATERIALS: Videos, loud speaker, textbook, pictures

INSTRUCTIONAL PROCEDURES

PERIOD 1-2

NOTE

ECONOMIC INSTITUTIONS

Economic institutions are agencies that engage in the production, distribution and consumption of goods and services in the society.

Some economic institutions include the Nigerian Stock Exchange(NSE), The Central Bank of Nigeria, Insurance companies etc

THE NIGERIAN STOCK EXCHANGE

This is a financial institution that provides the market where buying and selling of securities is done. Securities such as

1. shares-the unit of a company’s capital owned by an individual known as the shareholder
2. stock-this is a bundle of shares transferrable in small amounts
3. Government bonds- A government bond is a debt security issued by a government to support government spending and obligations. Government bonds can pay periodic interest payments called coupon payments. Government bonds issued by national governments are often considered low-risk investments since the issuing government backs them.
4. Debenture- it is a form of loans from individuals to companies
5. Gift-edged- it is a form of security issued by the government to raise funds for its projects

FUNCTIONS OF THE NSE

1. raise capital for government and companies
2. transfer ownership of businesses in bits and large chunks
3. provides investors with relevant information on the financial health of a company or country

INSURANCE COMPANIES
This is an economic and financial institution that help companies and individuals to mitigate against losses and risks

TYPES OF INSURANCE

1. motor vehicle insurance
2. life assurance
3. health insurance
4. fire insurance
5. aviation and marine insurance

FUNCTIONS OF INSURANCE COMPANIES

1. it encourages savings
2. it helps to reduce risks and losses
3. it provides funds needed for investments
4. it provides employers with the means of motivating their workers
5. it covers old age, injury and other unforeseen circumstances

THE CENTRAL BANK OF NIGERIA

This is the apex bank in Nigeria that controls the activities of other banks in Nigeria.

FUNCTIONS OF THE CENTRAL BANK OF NIGERIA

1. it is the government and banker’s bank
2. it is responsible for issuing currencies
3. they are responsible for executing monetary policies
4. they are the lender of the last resort for financial stability;
5. They are responsible for regulating the financial sector.

EVALUATION:    1. Define economic institutions

2. Explain
3. the Nigerian Stock Exchange(NSE)
4. The Central Bank of Nigeria(CBN)
5. Insurance Companies
6. Discuss the roles of
7. the Nigerian Stock Exchange(NSE)
8. The Central Bank of Nigeria(CBN)
9. Insurance Companies

CLASSWORK: As in evaluation

CONCLUSION: The teacher commends the students positively