SHS2 Economics · Semester 2 Week 11: Concept of Money, Financial Institutions and Public Finance

Lesson notes

Learning Objectives

Indicator: 2.4.2.LI.3

By the end of the lesson, learners can:

Define taxation and state at least four principles of a good tax system.
Distinguish between direct and indirect taxes, giving at least two examples of each.
Classify tax systems as proportional, regressive, or progressive based on how the tax rate changes with income.
Work collaboratively in mixed gender and ability groups to identify and present the principles and types of taxation using relevant Ghanaian examples.
Justify, using critical thinking, why a particular tax in Ghana is classified as direct or indirect, and whether its structure is proportional, regressive, or progressive.

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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: 2.4.2.CS.1 - Demonstrate knowledge and understanding of the concept money and financial institutions in an economy. 2.4.2.LO.1 Employ relevant information in the environment to examine the reasons for holding money, role of financial institutions and taxation in an economy.
Indicator: 2.4.2.LI.3 - Identify the principles, types and classification of taxation.
Suggested placement: Semester 2, Week 11 (Week 31 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. 83

Exemplars (from the NaCCA curriculum)

Collaborative Learning: Form a mixed gender and ability groups and brainstorm to identify the principles, types (direct and indirect) and classification (proportional, regressive, progressive) of taxation in an economy. Prepare PowerPoint slides and present your work to the class.
- Being sensitive to the inter-relatedness of the various spheres of life, groups and individuals
- Being aware of personal biases and stereotypes
Assessment (2.4.2.AS.3). 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)
- Pens
- Exercise books