SHS1 Economics · Semester 2 Week 13: Concept of Money, Financial Institutions and Public Finance

Lesson notes

Learning Objectives

Indicator: 1.4.2.LI.2 - Describe the types of financial institutions.

By the end of the lesson, learners can:

Define a financial institution and explain its role in the Ghanaian economy.
Identify and describe at least four types of financial institutions operating in Ghana, including banks, insurance companies, microfinance institutions, and pension funds.
Distinguish between bank and non-bank financial institutions with relevant examples from the local environment.
Explain the key services each type of financial institution provides to individuals and businesses.
Assess the importance of financial institutions to households and businesses in their community using critical thinking.

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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.2 - Describe the types of financial institutions.
Suggested placement: Semester 2, Week 13 (Week 33 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.
Source document note: The official curriculum document has a fault in this entry, so the curriculum text above is transcribed exactly as printed:

exemplars - p.51 the document prints this assessment code as "1.4.2.AS.1", the same code it prints for the preceding indicator on the same page; the document numbers assessments in parallel with indicators everywhere else, so 1.4.2.AS.2 is what the convention gives, but the printed form is kept rather than renumbered
Curriculum reference: NaCCA curriculum document, p. 51

Exemplars (from the NaCCA curriculum)

Experiential Learning: In a small mixed ability and gender group, embark on a study tour to a nearby financial institution such as a bank, or insurance company, etc. or watch a video of a stock exchange market or a bank or insurance company to discuss financial institutions. Learners become sensitive to the inter-relatedness of the various spheres of life, groups, and individuals during and after the study tour or after watching the videos. Learners learn honesty from the financial institution.
Assessment (1.4.2.AS.1). The document marks these depth-of-knowledge levels for this indicator: Level 4 Extended critical thinking and reasoning.
Teaching and Learning Resources:
- Marker
- White board
- Computers
- Internet
- Projectors
- CDs (recorded video)
- Permission letter
- School bus