SHS1 Economics · Semester 2 Week 12: Concept of Money, Financial Institutions and Public Finance

Lesson notes

Learning Objectives

Indicator: 1.4.2.LI.1 - Explain the concept of money in an economy.

By the end of the lesson, learners can:

Define money in the modern economy using the key functions it performs, giving at least two Ghanaian examples of items that have served as money.
Describe the limitations of the barter system and explain how the introduction of money solved these problems.
Trace the historical evolution of money from barter to commodity money, metallic money, paper money, and digital or mobile money, using examples from Ghana’s experience.
Explain the qualities of good money, such as durability, portability, divisibility, and acceptability, by assessing whether a given item qualifies as good money.
Demonstrate responsibility and respect when discussing the values and beliefs different cultures attach to money and forms of exchange.

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Curriculum details

Strand: Government Economic Policy and Trade (Strand 4)
Sub-strand: Concept of Money, Financial Institutions and Public Finance (4.2)
Content standard: 1.4.2.CS.1 - Demonstrate knowledge and understanding of the concept of money and financial institutions in an economy. 1.4.2.LO.1 Use relevant information from the environment to discuss the concept of money and financial institutions in an economy.
Indicator: 1.4.2.LI.1 - Explain the concept of money in an economy.
Suggested placement: Semester 2, Week 12 (Week 32 of the year)
Our suggestion, laid out in curriculum order across three terms of twelve weeks. NaCCA does not fix the week, so follow your school's scheme of learning.
Curriculum reference: NaCCA curriculum document, p. 51

Exemplars (from the NaCCA curriculum)

Building on What Others Say: Show a video of barter system to give a brief history of money. Use a cash of any amount to explain the meaning of money in the modern economy. Give more time to learners approaching proficiency. Learners should be encouraged to be responsible and respectful citizens.
Assessment (1.4.2.AS.1). The document marks these depth-of-knowledge levels for this indicator: Level 3 Strategic reasoning; Level 4 Extended critical thinking and reasoning.
Teaching and Learning Resources:
- Marker
- White board
- Computers
- Internet
- Projectors
- CDs (recorded video)
- Permission letter
- School bus