Economics Grade-9: Semester 2

Description

Dear Learner,

Welcome back to Module 2! This module begins by exploring production and cost theories, including the stages of production and different types of costs. We’ll then move into the concept of money, where you’ll learn about its evolution, functions, the dynamics of money demand and supply, and the basics of electronic banking.

The next section will discuss fundamental macroeconomic concepts, focusing on essential variables, macroeconomic goals, and common economic challenges. Finally, the module introduces entrepreneurship, providing insights into what defines an enterprise, entrepreneur, and entrepreneurship. We’ll also delve into entrepreneurial attitudes, behaviors, and ways to recognize new opportunities.

Please pay close attention and complete all activities and self-check exercises by reading the module and analyzing the economic issues surrounding us. By doing so, you will gain a solid understanding of economics, which will prepare you for more advanced concepts in the subject.

Enjoy your learning journey through Module 2!

Competencies

• Understand Production and Cost Theories: You will be able to explain key production theories, including the stages of production and various cost types, and analyze how these concepts impact business operations and decision-making.
• Comprehend the Functions and Dynamics of Money: You will trace the evolution of money, understand its functions, and analyze the demand and supply of money, including the role and impact of electronic banking in the modern economy.
• Grasp Basic Macroeconomic Concepts: You will gain an understanding of fundamental macroeconomic concepts, including key economic variables, goals of macroeconomic policy, and common economic problems, and be able to apply these concepts to real-world scenarios.
• Explore Entrepreneurship Principles: You will define key entrepreneurial concepts such as enterprise, entrepreneur, and entrepreneurship, and evaluate entrepreneurial attitudes, behaviors, and opportunities, preparing them to identify and pursue potential business ventures.

Contents

Unit 5: Introduction to Production and Cost

Lesson 1: Definition of Production, Inputs and Outputs

Lesson 2: Periods of Production

Lesson 3: Cost of Production

Unit 6: Introduction to Money

Lesson 4: Definition of Money

Lesson 5: Evolution of Money

Lesson 6: Functions of Money

Lesson 7: Demand and Supply of Money

Lesson 8: Money and Electronic Banking

Unit 7: Introduction to Macroeconomics

Lesson 9: Definition of Macroeconomic Variables

Lesson 10: Macroeconomic Goals

Lesson 11: Macroeconomic problems

Unit 8: Basic Entrepreneurship

Lesson 12: Definition of Enterprise, Entrepreneur, and Entrepreneurship

Lesson 13: Creativity and Innovation in Solving Local Problems

Lesson 14: Entrepreneurial Attitudes, Behavior and Mind-set

Lesson 15: Windows of Entrepreneurial Opportunities

Lesson 16: Entrepreneurial Success, Teamwork and Diversity

Lesson 17: Finance and Promotion of Entrepreneurship

Assessment

Assessment in this module may include:

• Quiz and test
• Mid Exam  
• Final Exam

You will be continuously assessed by the tests presented at the end of every lesson. All assessments consist of automatically graded multiple-choice questions with explanatory feedback. Each question offers four answer choices, marked by small square checkboxes. While the options may not always be labeled A, B, C, or D, you can interpret the checkboxes in that order.

References

Mohammed, H., & Ababu, T. (2022). Economics student textbook: Grade 9. Federal Democratic Republic of Ethiopia, Ministry of Education, Hawassa University.