# Lesson Notes By Weeks and Term - Senior Secondary 1

Basic tools of economic analysis

Term: 1st Term

Week: 6

Class: Senior Secondary School 1

Age: 15 years

Duration: 40 minutes of 2 periods each

Date:

Subject:      Economics

Topic:-       Basic tools of economic analysis

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

1. Discuss the characteristics and importance of each tool used in economic analysis

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

INSTRUCTIONAL MATERIALS: Videos, loud speaker, textbook, pictures

INSTRUCTIONAL PROCEDURES

PERIOD 1-2

 PRESENTATION TEACHER’S ACTIVITY STUDENT’S ACTIVITY STEP 1 INTRODUCTION The teacher reviews the previous lesson on the basic economic problems Students pay attention STEP 2 EXPLANATION She discusses the characteristics and importance of table and charts Students pay attention and participates STEP 3 DEMONSTRATION She also discusses the characteristics of graphs Students pay attention and participate STEP 4 NOTE TAKING The teacher writes a summarized note on the board The students copy the note in their books

NOTE

BASIC TOOLS FOR ECONOMIC ANALYSIS

1. TABLES

A table is a systematic and orderly arrangement of information or facts usually in rows and columns for presentation which make it easier for better understanding

CHARACTERISTICS OF A TABLE

1. A table must be very simple
2. It must be easy to understand
3. A table must have a title or heading
4. It must be numbered if they are many
5. The purpose of constructing the table must be stated

IMPORTANCE OF TABLE

1. A table helps to summarized the data presentation
2. It assists in an orderly arrangement of data
3. A table helps to understand data
4. It eases in comparison of different classes of data.

EXAMPLE OF A TABLE

The below table shows the names of wigs, quantity and prices ordered by a wig vendor from a Vietnamese factory

 S/N WIGS QUANTITY UNIT PRICE PRICE 1 14 inches blunt cut wig 1 15,000 15,000 2 Scarf braided wig 2 25,000 50,000 3 360 frontal wig 1 25,000 25,000 4 14 inches bouncy curls 3 68,000 204,000 5 12 inches full frontal bob 2 37,000 74,000 GRAND TOTAL 368,000

1. CHARTS

This is another tool of presenting data through a diagrams or pictures. Charts gives visual display of data.

Examples of charts are bar charts, histogram, etc.

BAR CHARTS

Bar chart is a graph which shows the relationship between one variable and another. The graph is usually made up of bars. The lengths of the bars are usually drawn to be proportional to the magnitude of the data being represented. The main characteristics of bar charts are that the body of bars must not touch each other. There must be a space or gap between one bar and another. But chart may be arranged vertically or horizontally.

TYPES OF BAR CHARTS

There are three major types of bar charts. These are:

1. Simple bar chart
2. Component bar chart
3. Multiple bar chart.

A SIMPLE BAR CHART

Simple bar chart is used when the data given are made up of only one item or component. The bar chart can be presented by tabulated data with evenly spaced bars, separated by gaps with the length proportional to the magnitude of the value given.

Example

The total number of pupils in each class in a nursery school

 CLASS PRE-K TODDLER 1 TODDLER 2 NURSERY 1 NURSERY 2 PUPILS 100 50 70 65 72

Solution

COMPONENT BAR CHART

A component bar char is used when the data involved are more than one

Example

Below is the population of the nursery school from 2020-2023.

Present the data in a component bar chart.

 PRE-K TODDLER 1 TODDLER 2 NURSERY 1 NURSERY 2 2020 25 35 40 55 80 2021 40 50 60 36 79 2022 50 70 80 65 81 2023 75 75 100 70 60

SOLUTION

MULTIPLE BAR CHART

A multiple bar graph shows the relationship between different values of data

Below is the sales made by a Grocery store on from Tuesday to Thursday

 Type of Vegetable Tuesday Wednesday Thursday Tomatoes 32 kg. 36 kg. 36 kg. Lettuce 40 kg. 33 kg. 37 kg. Corn 56 kg. 65 kg. 67 kg. Carrots 28 kg. 25 kg. 23 kg. Broccoli 27 kg. 31 kg. 34 kg. Cabbage 44 kg. 54 kg. 58 kg.

SOLUTION

PIE CHART

A pie chart is a type of graph that represents the data in the circular graph.

The slices of pie show the relative size of the data, and it is a type of

pictorial representation of data. A pie chart requires a list of categorical

variables and numerical variables.

EXAMPLE OF A PIE CHART

Represent the following distribution of pupils in a nursery school on a pie

chart

 CLASS PRE-K TODDLER 1 TODDLER 2 NURSERY 1 NURSERY 2 PUPILS 35 10 10 25 20

SOLUTION

1. Graphs

Graph is defined as a diagram that shows relationship between two or

more variables e.g line graph, pie chart, bar graph etc.

FEATURES OF GRAPH

1. Graph must have a title or heading
2. Graph must have or possess appropriate scale
3. Graph must be labelled properly for better understanding
4. The unit of measurement must be indicated
5. The X and Y axes of the graph (where applicable) must carry different

variables

IMPORTANCE OF GRAPH

1. Graphs help to show relationship between two variables.
2. It helps to interprete value of variables.
3. Graph provides basis for comparing variables provided in the table
4. It makes it possible for changes in variables on quantities to be

expressed

Line Graph

Line graph is a line used for data where emphasis is on

continuous change. It is used to connect the highest and the lowest point of

a group of data. Line graph could be straight or curve

EXAMPLES OF LINE GRAPH

Represent the below information on the amount of bags of water bought by

a family from March 2023 to August 2023

 MONTH BAGS OF WATER March 20 April 26 May 15 June 30 July 18 August 15

SOLUTION

EVALUATION:    1. Discuss two characteristics and importance of

1. tables
2. charts
3. graphs
4. Represent the below data as a line graph, bar chart and a pie charts

The table below represents the total number of learners that subscribed for a particular sporting activity in a school

 SPORTS LEARNERS Swimming 40 Martial acts 15 Gymnastics 10 Badminton 35

CLASSWORK: As in evaluation

CONCLUSION: The teacher commends the students positively