CHAPTER ONE
INTRODUCTION
1.1 Background to the Study
Economics has been defined by different people in different ways economics is the study of the ways of making choices and allocating score resources to satisfy human wants. It is the study of how people and society makes decisions; allocate and manage scarce resources to achieve their needs. In this view, Hall (2013) defines economics as the study of how individuals, firms and whole societies identify their most important needs, allocate and manage scarce resources in such a way that satisfy as many needs as possible. Since resources are scares while human wants are instable, economics deals with the study of how people utilize scare resources in face of unlimited wants.
Economics is the study of human attitude towards satisfying their needs. Economics is concerned between behaviour such as how people earn their living and make choices between alternatives to satisfy their wants it focuses on the study of firms and the government whose activities re geared towards the production of goods and services for the satisfaction of human wants. (Yusuf, 2012), Economics could be seen as the study of human activities dealing with allocation of resources and production of goods and services for satisfaction of human wants. It is a social science that studies how individuals, firms and government make decisions and choices in face of unlimited wants and allocate scarce resources to their most important, pressing and preferred needs. In Nigeria, economics is taught in secondary school (Senior) using economics senior secondary school curriculum. Economic curriculum has to do with all the experiences and activities provided by the teacher/school to the student in course of handling economics subject in order to achieve the objectives of the subject (economics).
As documented by Federal Ministry of Education (FME), (2008) the guiding principle of the Economics curriculum is the need to equip graduates of senior secondary school with the basic knowledge and skills that will enable them to better appreciate the nature of economics problems in any society, and adequately prepare them for the challenges in the Nigerian economy.
The objectives of Economics Curriculum according to the Federal Ministry of Education (FME) 2008 include enabling students;
- Understand basic economic principles and concepts as well as the tool for economic analysis.
- Contribute intelligently to discourse on economic reforms and development as they affect or would affect the generality of Nigerians.
- Understand the structure and functioning of economic institutions.
- Appreciate the role of public policies on national economy.
- Develop the skills and also appreciate the basic for rational economic decisions.
- Become sensitized to participate actively in National Economic Development through entrepreneurship, capital market and so on.
- Understand the role and status of Nigeria and other African countries in international economic relationship.
- Appreciate the problems encountered by developing countries in their effort towards economic development/advancements.
