Lesson Notes By Weeks and Term - Senior Secondary School 1

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  4. Balance of payment deficit

Term:2nd Term

Week: 9

Class: Senior Secondary School 1

Age: 15 years

Duration: 40 minutes of 2 periods each

Date:       

Subject:    Commerce

Topic:-      Balance of payment deficit

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

  1. Explain the meaning of balance of payment deficit
  2. State the causes of unfavourable balance of payment deficit
  3. Outline measures to correct balance of payment deficit

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 visible and invisible imports and exports

Students pay attention

STEP 2

EXPLANATION

She explains the meaning of balance of payment deficit.

She then explains the causes of unfavourable balance of payment

 

Students pay attention and participates

STEP 3

DEMONSTRATION

She further discusses the measures to correct balance of payment deficit

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

BALANCE OF PAYMENT DEFICIT

This is a situation where a country’s receipts are less than that of its

payments over a given period of time which infers that the economy is not

self-sufficient

 

CAUSES OF UNFAVOURABLE BALANCE OF PAYMENT DEFICIT

  1. low production rate
  2. Bad weather and climatic conditions leading to a low harvest
  3. High demand for foreign goods
  4. Use of underdeveloped technology and crude implements
  5. Fall in the country’s exportation rate

 

MEASURES TO CORRECT BALANCE OF PAYMENT DEFICIT

  1. Reduction of importation
  2. Accessing grants and aids from richer countries
  3. Sales of the country’s foreign investments
  4. Increase in local production
  5. Devaluation of the local currency to reduce the value of the country’s

export

  1. Borrowing from international lending institutions such as the IMF

 

EVALUATION:   1. Explain the meaning of balance of payment deficit

  1. State the causes of unfavourable balance of payments deficit
  2. What are control measures for balance of payment deficit?

CLASSWORK: As in evaluation

CONCLUSION: The teacher commends the students positively