KENYA SECONDARY SCHOOL - REVISED BUSINESS STUDIES CURRICULUM
Introduction
General Objectives
Form One Business Studies
Form Two Business Studies
Form Three Business Studies
Form Four Business Studies
Suggested Learning and Teaching Experiences
Suggested Learning and Teaching Resources
Assessment and Evaluation.
INTR0DUCTION
The Business Studies syllabus incorporates fundamental aspects of the various business disciplines, leaving out the more specialized concepts for post school education and training.
The aim of t subject is to provide the learner with opportunities to acquire basic business skills and positive attitudes necessary for the development of self and the nation.
Business Studies, being a living subject, takes into account the need to address contemporary issues, trends in business and current economic issues in society. The teacher as well as the learners is therefore expected to update themselves on these trends by making use of resources such as print and electronic media, resource persons and relevant business environment.
The vital role of the learner in the learning process has also been recognized. In this connection, the teacher is strongly advised to employ participatory approaches to learning in order to tap and incorporate the learner’s experiences.
GENERAL OBJECTIVES
This course will enable the learner to:
I. acquire necessary knowledge, skills and attitude for the development of the self and the nation
2. understand business and its environment
3. appreciate the role of business in society
4. acquire necessary entrepreneurial knowledge, skills and attitude for starting and operating a business
5. develop ability for inquiry, critical thinking and rational judgment
6. appreciate tile need for ethical practice and efficient business management
7. acquire self-discipline and positive attitude towards work
8. enhance co-operation and inter-relation in the society through trade
9. understand the role of the government in relation to business activities
10. appreciate the role communication and information technology in modern business management
11. develop positive environmental and health practices
12. have a firm foundation for further education and training
13. appreciate the need for measuring business performance
14. appreciate basic economic issues in society
15. understand the role of auxiliary services in business
16. appreciate the role of market forces in determining prices of goods.
FORM I BUSINESS STUDIES
1.0.0   Introduction to Business Studies (3 Lessons)
2.0.0  Business and Its Environment (6 Lessons)
3.0.0  Satisfaction Of Human Wants (9 Lessons)
4.0.0  Production (12 Lessons)
5.0.0  Entrepreneurship (17 Lessons)
6.0.0  The Office (17 Lessons)
7.0.0  Home Trade (30 Lessons).
1.00   INTRODUCTION TO BUSINESS STUDIES (3 LESSONS)
1.1.0 SPECIFIC OBJECTIVES
By the end of the topic, the learner should be able to:
a) explain the meaning of business studies
b) explain the importance of business studies in society.
1.20  CONTENT
1.21  Meaning of business studies
1.22  Importance of business studies in society
The study of business is about how individuals and groups of people organise, plan, and act to create and develop goods and services to satisfy customers. Business is influenced by and impacts on the cultural, ethical, environmental, political, and economic conditions of the day.
Business Studies will help you to make more informed decisions in the everyday business of living. It gives you a better understanding of the world of work. It encourages you to think about how and why people start up in business and why you too might also consider starting a business.
As well as developing the essential transferable or ‘soft’ skills that employers demand, the following strengths are also cultivated through business studies:
    critical thinking and analytical skills, alongside familiarity with evaluative techniques;
    numeracy and the ability to research, interpret and use business and financial data and information;
    self-reliance, initiative and the ability to manage time, projects and resources;
    appreciation of the causes and effects of economic and other external changes,
    a creative problem-solving approach and sound, logical decision-making skills;
    effective and persuasive written and oral communication skills;
    understanding organisational behaviour and structure.
These attributes are much sought after by employers, since they build commercial awareness and allow new employees to start contributing to the organisation quickly.
The course structure and design of assignments also boost employability, with presentations, group work, independent projects and business simulation activities giving ample opportunity for development.
2.00  BUSINESS AND ITS ENVIRONMENT (6 LESSONS)
2.10  SPECIFIC OBJECTIVES
By the end of the topic, the learner should be able to:
a) explain the meaning and purpose of a business
b) identify various business activities
c) identify various types of business environments
d) explain how the various environments influence a business
2.20  CONTENT
2.21  Meaning and purpose of a business
2.22  Business activities
2.23  Business environments.
        a) Internal
        b) External
2.24  Effects of various business environments on a business
3.00  SATISFACTION OF HUMAN WANTS (9 LESSONS)
3.10  SPECIFIC OBJECTIVES
By the end of the topic the learner should be able to:
a) explain the meaning and characteristics of human wants
b) classify human wants
c) explain the meaning of goods and service
d) discuss characteristics of goods and services
e) explain the meaning and characteristics of economic resources
f) relate the concepts of scarcity, choice and opportunity cost to real life situations
3.20  CONTENT
3.21  Meaning and characteristics of human wants
3.22  Types of human wants
3.23  Meaning of goods and services
3.24  Characteristics of goods and services
3.25  Economic resources
3.26  Relation between Scarcity, choice and opportunity cost to real life situations
4.00  PRODUCTION (12 LESSONS)
4.10  SPECIFIC OBJECTIVES
By the end of the topic, the learner should he able to:
a) explain the meaning of production
b) distinguish between the different types of utility
c) distinguish between direct and indirect production
d) describe the levels of production and occupations relating to each
e) discuss the factors of production and the reward for each
f) explain the role of division of labour in the production process
g) Classify goods and services produced in an economy.
4.20  CONTENT
4.21  Meaning of production.
4.22  Types of utility.
4.23  Direct and indirect production.
4.24  Levels of production and related occupations.
4.25  Factors of production and their rewards.
4.26  Division of labour and specialization,
4.27  Classification of goods and services produced in an economy.
5.00  ENTREPRENEURSHIP (17 LESSONS)
 5.10  SPECIFIC OBJECTIVES
By the end of the topic, the learner should be able to:
a) explain the meaning of entrepreneurship
b) discuss the importance of entrepreneurship to an economy
c) describe the characteristics of an entrepreneur
d) generate business ideas
e) identify a business opportunity
f) evaluate a business opportunity
g) explain the need for a business plan
h) discuss the factors that may inhibit entrepreneurial development in Kenya
i) discuss the causes of business failure
j) recognize the need for ethical practices in business
5.20  CONTENT
5.21  Meaning of entrepreneurship
5.22  Importance of entrepreneurship to an economy
5.23  Characteristics of an entrepreneur
5.24  Business ideas
5.25  Business opportunity
5.26  Evaluating a business opportunity
5.27  Need for a business plan
5.28  Factors that influence entrepreneurial practices
5.29 Causes of Business Success
5.30  Ethical values in business
6.00  THE OFFICE (17 LESSONS)
6.10  SPECIFIC OBJECTIVES
By the end of the topic, the learner should be able to:
a) explain the concept of an office
b) explain the functions of an office
c) discuss the various office layouts
d) explain the uses of various office equipment
e) discuss the role of filing in an office
f) discuss the duties of various categories of office staff
g) describe essential qualities of each category of office staff
h) discuss trends in office management.
6.20  CONTENT
6.21  Concept of an office
6.23  Functions of an office
6.24  Types of office layouts
6.25  Role of filing in an office
6.26  Duties of various office staff
6.27  Essential qualities of office staff
6.28  Trends in office management.
8.00  HOME TRADE
8.01  SPECIFIC OBJECTIVES
By the end of the topic, the learner should be able to:
a) explain the meaning and importance of trade
b) classify trade
c) explain the forms of home trade
d) discuss the types and functions of retailers
e) discuss the types and functions of wholesalers
f) describe the documents used in home trade
g) explain the means of payment used in home trade and the circumstances under which they are used
h) explain the terms of payment used in home trade and circumstances in which they are used.
8.20  CONTENT
8.21  Meaning and importance of trade
8.22  Classification of trade
8.23 Forms of home trade
8.24  Types and functions of retailers
8.25  Types and functions of wholesalers
8.26  Documents used in home trade
8.27  Means of payment in home trade
8.28  Terms of payment in home trade

          FORM II - KENYA BUSINESS STUDIES
8.0.0  Forms of Business Units (30 Lessons)
9.0.0  Government and  Business (12 Lessons)
10.0.0  Transport ( 12 Lessons)
11.0.0  Communication (12 Lessons)
12.0.0  Warehousing (6 Lessons)
13.0.0  Insurance (12 Lessons)
14.0.0  Product Promotion (12 Lessons).
9.00  FORMS OF BUSINESS UNITS (30 LESSONS)
8.10  SPECIFIC OBJECTIVES
By the end of the topic, the learner should be able to:
a) identify the various forms of business units
b) explain the characteristics of each form of business unit
c) discuss the formation and management of each form of business unit
d) discuss the sources of capital for each form of business unit
e) discuss the role of stock exchange as a market for securities
f)  explain the advantages and disadvantages of each form of business unit
g) recognize the circumstances under which the various forms of business units may be dissolved.
h) discuss trends in business ownership.
8.20  CONTENT
8.21 Business units
        a) Sole proprietorships
        b) Partnerships
        c) Co-operatives
        d) Private companies
        e) Public companies
        f)  Public corporations
        g) Parastatals
8.22 Features of each form of business unit
8.23 Formation and management of each form of business unit
8.24 Sources of capital for each form of business unit
8.25 Role of stock exchange market as a market for securities
8.26 Advantages and disadvantages of each form of business unit
8.27 Dissolution of business units
8.28 Trends in business ownership e.g.
        a) Globalization
        b) Amalgamation/mergers
        c)  Privatization
10.00  GOVERN\IENT AND BUSINESS (12 LESSONS)
9.10  SPECIFIC OBJECTIVES
By the end of the topic, the learner should be able to:
a) explain reasons for Government involvement in business
b) explain how the Government gets involved in business
c) discuss the merits and demerits of government involvement in business
activities
d) discuss the importance of consumer protection.
9.20 CONTENT
9.21 Government involvement in business activities
9.22 Government involvement in business e.g.
        a) Regulations
        b) Training
        c) Trade promotion
        d) Provision of public utilities
        e) Enabling environment
9.23    Merits and demerits of Government involvement in business
9.24    Consumer protection
       a) Need for consumer protection
       b) Methods of consumer protection.
10.00  TRANSPORT (12 LESSONS)
10.10 SPECIFIC OBJECTIVES
By the end of the topic, the learner should be able to:
  a) explain the meaning and importance of transport to business
  b) explain the essential elements of transport
  c) describe the modes and means of transport
  d) discuss advantages and disadvantages of each means of transport
  e) discuss the factors which influence choice of appropriate means of transport
  f)  discuss trends of transport.
10.20  CONTENT
10.21   Meaning and importance of transport
10.22   Essentials of transport
10.23  Modes and means of transport
10.24   Advantages and disadvantages of each means of transport
10.25   Choice of appropriate means of transport
10.26   Trends in transport e.g.
          a) Containerization
         b) Pipeline.
11.00  COMMUNICATION (12 LESSONS)
11.10   SPECIFIC OBJECTIVES
By the end of the topic, the learner should be able to:
  a) explain the meaning and importance of communication
  b) describe the lines of communication
  c) explain the essential of effective communication
  d) discuss the advantages and disadvantages of each means of communication
  e) discuss the factors that influence choice of an appropriate means of communication
  f)  identify the barriers to effective communication
  g) discuss services that facilitate communication
  h) discuss trends in communication
11.20  CONTENT
11.21   Meaning and importance of communication
11.22  Lines of communication
           a) Vertical/horizontal
           b) Formal and informal
11.23   Essential of effective communication
11.24   Barriers to effective communication
11.25  Forms and means of communication
11.26  Advantages and disadvantages of communication
11.27   Choice of an appropriate means of communication
11.28   Services that facilitate communication e.g. courier, postal, telecommunication
11.29  Trends in communication e.g.
           a) Facsimile (fax)
           b) Development in the internet e.g. e-mail; e-commerce
           c) Cell-phones.
12.00  WAREHOUSING (6 LESSONS)
12.10  SPECIFIC OBJECTIVES
By the end of the topic, the learner should be able to:
a) explain the meaning and importance of ware housing to business
b) discuss the essentials of a warehouse
c) identify the various types of warehouse
d) explain the advantages and disadvantages of each type of warehouse.
12.20 CONTENT
12.21   Meaning and importance of warehousing
12.22   Essentials of a warehouse
12.23  Types of warehouses
12.24  Advantages and disadvantages of each type of warehouse.
13.00  INSURANCE (12 LESSONS)
13.10   SPECIFIC OBJECTIVES
By the end of the topic, the learner should be able to:
   a) explain meaning and concept of insurance
   b) discuss the meaning and importance of insurance
   c) explain terms used in insurance
   d) explain the principles of insurance
   e) distinguish between the classes of insurance
   f)  explain the meaning of re-insurance and co-insurance
   g) describe procedures of obtaining an insurance policy
   h) describe the procedure of making an insurance claim.
13.20  CONTENT
13.21   Meaning and concept of insurance
13.22  Importance of insurance
13.23   Terms used in insurance
13.24   Principles of insurance
13.25   Classes of insurance
13.26   Re-insurance and co-insurance
13.27   Obtaining an insurance policy
13.28   Making an insurance claim.
14.00  PRODUCT PROMOTION (12 LESSONS)
14.10 SPECIFIC OBJECTIVES
By the end of the topic, the learner should be able to:
a) explain the meaning of a product
b) explain the meaning and importance of product promotion
c) explain the various methods of product promotion
d) explain the advantages and disadvantages of each method of product promotion
e) discuss factors which influence choice of promotion method
f) recognize the need for ethical practices in product promotion
g) discuss trends in product promotion.
14.20 CONTENT
14.21   Meaning of a product
14.22  Meaning and importance of product promotion
14.23  Methods of product promotion
14.24  Advantages and disadvantages of each method of product promotion
14.25  Choice of promotion method
14.26  Ethical issues in product promotion
14.27 Trends in product promotion.
      FORM III - KENYA BUSINESS STUDIES
15.00  Demand and Supply (20 Lessons)
16.00 Size and Location of a Firm (14 Lessons)
17.00  Product Markets (10 Lessons)
18.00  Chain of Distribution (6 Lessons)
19.00  National Income (20 Lessons)
20.00  Population and Employment (10 Lessons)
21.00   Net Worth of a  Business (8 Lessons)
22.00  Business Transactions (12 Lessons)
23.00  The Ledger (16 Lessons)
24.00  The Cash Book (8 Lessons)
15.00  DEMAND AND SUPPLY (20 LESSONS)
15.10  SPECIFIC OBJECTIVES
By the end of the topic, the learner should be able to:
  a) explain the meaning of demand
  b) explain the factors which influence demand for a product
  c) distinguish between derived demand and joint demand
  d) derive a demand curve from a demand schedule
  e) distinguish between movement along a demand curve and shift in the demand curve
  f)  explain the meaning of supply
  g) explain the factors which influence supply of a product
  h) derive a supply curve from a supply schedule
  i)  distinguish between movement along a supply curve and shift in supply curve
  j)  determine equilibrium price and quantity
  k) discuss the effect of excess demand and excess supply in the market
  l)  explain the effect of a shift in demand curve on equilibrium price and equilibrium quantity
  m) explain the effect of a shift in supply curve on equilibrium price and equilibrium quantity
  n) explain other methods of determining price of a product.
15.20  CONTENT
15.21  Meaning of demand
15.22   Factors which influence demand for a product
15.23  Derived demand and joint demand
15.24  Demand schedule and demand curve
15.25  Movement along a demand curve and shift in a demand curve
15.26  Meaning of supply
15.27   Factors which influence supply of a product
15.28   Supply schedule and supply curve
15.29   Movement along a supply curve and shift in a supply curve
15.30   Equilibrium price and quantity
15.31   Excess demand and excess supply
15.32   Effects of shift in a demand curve and shift in a supply curve on equilibrium price and quantity
15.33   Other methods of determining price of a product.
N.B: Only normal demand and normal supply curves should be discussed in Topic 15.00.
16.00  SIZE AND LOCATION OF A FIRM (14 LESSONS)
16.10 SPECIFIC OBJECTIVES
By the end of the topic, the learner should be able to:
a) distinguish between a firm and an industry
b) discuss the factors which influence the decision on what goods and services to produce
c) describe the criteria of determining the size of a firm
d) explain the factors that influence the location of a firm
e) discuss advantages and disadvantages of localization and delocalization of firms
f)  discuss the economies and diseconomies of scale.
g) justify the reasons for existence of small firms
h) discuss the implications of production activities on the environment and community health
i)  recognize the need for maintaining a healthy environment.
16.20  CONTENT
16.21   The concept of a firm and an industry
16.22   Decision on what goods and services to produce
16.23   Determining the size of a firm
16.24   Location of a firm
16.25   Localization and delocalization of firms in an economy
16.26   Economies and diseconomies of scale
16.27  Existence of small firms in an economy
16.28   Implications of production activities on the environment and community health
16.29   Maintain healthy environments
18.00  PRODUCT MARKETS (10 LESSONS)
17.10   Specific Objectives
By the end of this topic the learner should be able to:
   a) explain the meaning of a market
   b) explain the meaning of product market
   c) discuss the features of various types of product markets.
17.20 CONTENT
17.21 Meaning of a market
17.22 Meaning of product market
17.23 Features of various types of product markets.
19.00  CHAIN OF DISTRIBUTION (6 LESSONS)
18.10  SPECIFIC OBJECTIVES
By the end of the topic, the learner should be able to:
  a) explain the meaning of distribution
  b) describe the various channels of distribution
  c) discuss the role of intermediaries in the distribution chain
  d) discuss the factors which may influence choice of a distribution channel.
18.20 CONTENT
18.21 Meaning o f distribution
18.22 Channels of distribution
18.23 Intermediaries in the distribution chain
18.24 Distribution of various products
18.25 Choosing a distribution channel
19.00  NATIONAL INCOME (20 LESSONS)
19.10 SPECIFIC OBJECTIVES
By the end of the topic, the learner should be able to:
  a) explain the meaning of national income
  b) describe the circular flow of income
  c) explain the methods of measuring national income
  d) explain the problems encountered in measuring national income
  e) discuss the uses of national income statistics
  f)  discuss the factors that influence the level of national income.
19.20 CONTENT
  19.21  Meaning of national income
  19.22  The circular flow of income
  19.23  Methods of measuring national income
  19.24  Problems encountered in measuring national income
  19.25   Uses of national income statistics
  19.26  Factors which influence the level of national income.
20.00  POPULATION AND EMPLOYMENT (10 LESSONS)
20.10 SPECIFIC OBJECTIVES
By the end of the topic, the learner should be able to:
  a) explain the basic concepts in population
  b) explain the implications of population size and structure on the development of a country
  c) explain the meaning of employment and unemployment
  d) discuss the various types and causes of unemployment
  e) discuss the measures that may be taken to solve unemployment problems.
20.20 CONTENT
20.21  Basic concepts in population e.g.
          a) Fertility
          b) Mortality
          c) Growth rate
          d) Optimum population
          e) Over-population
          f) Under-population
          g) Young population
          h) Ageing population
          i) Declining population
20.22   Implication of population size and structure on development
20.23  Employment and unemployment
20.24  Types and causes of unemployment
20.25  Solving unemployment problems.
21.00   Net Worth of a  Business (8 Lessons)
23.00  BUSINESS TRANSACTIONS (12 LESSONS)
22.10 SPECIFIC OBJECTIVES
By the end of the topic, the learner should be able to:
  a) explain the meaning of a business transaction
  b) distinguish between cash and credit transaction
  c) determine the effects of transactions on the balance sheet
  d) discuss causes of changes in capital
  e) determine the initial and final capital of a business.
22.20 CONTENT
22.21   Meaning of a business transaction
22.22   Cash and credit transactions
22.23   Effects of transactions on the balance sheet
22.24   Causes of changes in capital
22.25   Initial and final capital of a business
23.00  THE LEDGER (16 LESSONS)
23.10   SPECIFIC OBJECTIVES
By the end of the topic, the learner should be able to:
  a) explain the meaning and purpose of a ledger
  b) explain the concept of double entry
  c) explain the meaning and format of a ledger account
  d) explain the rules of recording business transaction in ledger accounts
  e) record business transactions in various ledger accounts
  f) describe the procedure of balancing a ledger account
  g) balance off a ledger account
  h) extract a trial balance from ledger account balance
  i) explain the purposes and limitations of a trial balance
  j) classify accounts
  k) discuss the various types of ledgers.
23.20 CONTENT
23.21   Meaning and purpose of a ledger
23.22   Concept of double entry
23.23   Meaning and format of a ledger account
23.24   Rules of posting of various ledger accounts
          a) Assets accounts
          b) Liability accounts
          c) Expenses accounts
          d) Revenue accounts
          e) Capital accounts
23.25   Recording business transaction in the ledger accounts
23.26   Balancing a ledger account
23.27   The trial balance
23.28   Purpose and limitations of a trial balance
23.29   Classification of ledger accounts
23.30   Types of ledgers.
25.00  THE CASH BOOK (8 LESSONS)
24.10 SPECIFIC OBJECTIVES
By the end of the topic, the learner should able to:
   a) explain the meaning and purpose of a cash book
   b) distinguish between the basic types of cash books
   c) explain the term contra entry
   d) prepare the various cash books.
24.20 CONTENT
24.21 Meaning and purpose of a cash book
24.22 Basic types of cash books
24.23 Contra entry
24.24 Preparation of a cash book
           a) Single - column
           b) Two - column
           c) Three – column
            FORM IV KENYA - BUSINESS STUDIES SYLLABUS
25.00 Sources Documents and Books of Original Entry
26.00 Financial Statements
27.00 Money and Banking
28.00 Public Finance
29.00 Inflation
30.00 International Trade
31.00 Economic Development and Planning
25.00  SOURCE DOCUMENTS AND BOOKS OF ORIGINAL ENTRY
25.10   SPECIFIC OBJECTIVES
By the end of the topic, the learner should be able to:
  a) explain the meaning of the term source documents
  b) identify the various source documents used to record business transactions
  c) discuss the various books of original entry
  d) explain the meaning of the term journal
  e) record information in the relevant journal from the source documents
  f) post information from journals to the relevant ledger accounts.
25.20  CONTENT
25.21   Source documents
25.22   Different source documents used in recording business transaction
25.23   Books of original entry
25.24 The journal
25.25   Recording information in the relevant journals from source documents
25.26  Posting information to the relevant ledger accounts from various journals.
26.0.0  FINANCIAL STATEMENTS
26.10 SPECIFIC OBJECTIVES
By the end of the topic, the learner should be able to:
  a) identify the various financial statements
  b) explain the importance of each of the financial statements
  c) explain the concept of trading period
  d) prepare simple Financial Statements
  e) explain the various types of capital
  f)  calculate basic ratios from financial statements
  g) explain the importance of each of the basic financial ratios.
26.20  CONTENT
26.21 Financial Statements
          a) Trading account
          b) Profit and loss account
          c) Trading, profit and loss account
          d) Balance sheet
26.22   Importance of the financial statements
26.23   Concept of trading period
26.24   Preparation of simple financial statements
26.25   Types of capital
          a) Working capital
          b) Borrowed capital
          c) Capital owned
          d) Capital employed
26.26   Calculating  basic financial ratios e.g
          a) Margins and mark-ups
          b) Current ratio/ working capital ratio
          c) Rate of stock turn-over
          d) Return on capital
26.27   Importance of financial ratios
NB: End year adjustments are not required in Topic 26.00
27.00 MONEY AND BANKING
27.10 SPECIFIC OBJECTIVES
By the end of the topic, the learner should be able to:
  a) explain the meaning and limitations of barter trade
  b) explain the meaning and characteristics of money
  c) explain the functions of money
  d) explain demand for and supply of money
  e) describe the meaning of banking
  f) describe the development of banking
  g) explain the functions of commercial banks
  h) explain the main types of accounts offered by commercial banks
  i)  explain the functions of non-bank financial institutions
  j)  distinguish between commercial banks and non-bank financial institutions
  k) explain the functions of a Central Bank in an economy.
  l)  discuss trends in banking.
27.20 CONTENT
27.21   Meaning and limitations of barter trade
27.22   Meaning and characteristic of money
27.23  Functions of money
27.24  Demand for and supply of money
27.25   Meaning of banking
27.26  Development of banking
27.27  Functions of commercial banks
27.28   Types of accounts offered by commercial banks
27.29   Functions of non-bank financial institutions
27.30  The functions of the Central Bank in an economy
27.31   Trends in banking.
30.0.0  PUBLIC FINANCE
28.10  SPECIFIC OBJECTIVES
By the end of the topic, the learner should be able to:
a) explain the meaning and purpose of public finance
b) describe the various sources of public finance
c) categorize government expenditure
d) explain the principles of government expenditure
e) explain the meaning and purpose of taxation
f)   explain the principles of taxation
g) classify taxes
h) explain the merits and demerits of each type of tax.
28.20 CONTENT
28.21 Meaning and purpose of public finance
28.22 Sources of public finance
28.23 Categories of Government expenditure
28.24 Principles of Government expenditure
28.25 Meaning and purpose of taxation
28.26 Principles of taxation
28.27 Classification of taxes
28.28 Merits and demerits of each type of tax
29.0.0  INFLATION
29.10 SPECIFIC OBJECTIVES
By the end of the topic, the learner should be able to:
  a) explain the meaning of inflation
  b) determine consumer price index
  c) explain the various types of inflation
  d) discuss causes of each type of inflations
  e) explain the levels of inflation
  f)  assess the effects of inflation in an economy
  g) discuss the methods of controlling inflation.
29.20  CONTENT
29.21   Meaning of inflation
29.22  Consumers price index
29.23   Types of inflation
29.24  Causes of inflation
29.25   Levels of inflation
29.26  Effects of inflation in an economy
29.27   Controlling inflation.
30.0.0  INTERNATIONAL TRADE
30.10 SPECIFIC OBJECTIVES
By the end of the topic, the learner should be able to:
  a) explain the meaning of international trade
  b) explain the advantages and disadvantages of international trade
  c) discuss terms of trade, balance of trade and balance of payments
  d) discuss the causes of balance of payments disequilibrium.
  e) discuss the measures that may be taken to correct the balance of payment disequilibrium
f)  explain the terms of sale in international trade
g) describe the documents used in the international trade
h) discuss the role of international financial institutions in international trade
i)  describe the various forms of economic integration
j)  recognize the importance of economic integration to a country
k) explain the advantages and disadvantages of free trade
l)   explain the reason for trade restrictions
m) discuss the methods of trade restriction
n) discuss the advantages and disadvantages of trade restriction
o) discuss trends in international trade.
30.20 CONTENT
30.21   Meaning of international trade
30.22   Advantages and disadvantages of international trade
30.23   Terms of trade, balance of trade, balance of payments
30.24  Balance of payment disequilibrium
30.25   Correcting balance of payment disequilibrium
30.26   Terms of sale in international trade
30.27  Documents used in international trade
30.28   International financial institutions e.g.
a) International Monetary Fund (IMF)
b) Africa Development Bank (ADB)
c) International Bank for Reconstruction and Development (World Bank)
30.29  Forms of economic integration
30.30  Importance of economic integration to a country
30.31   Advantages and disadvantages of free trade
30.32   Reasons for and methods of trade restriction
30.33   Advantages and disadvantages of trade restrictions
30.34   Trends in international trade e.g.
a) Liberalization
b) Export processing Zones (E.P.Z)
33.0.0  ECONOMIC DEVELOPMENT AND PLANNING
31.10  SPECIFIC OBJECTIVES
By the end of the topic, the learner should be able to:
  a) distinguish between economic growth and economic development
  b) discuss the characteristics of under-development
  c) explain the goals of development
  d) discuss the factors which may hinder development
  e) explain the meaning of development planning
  f) recognize the need for development planning
  g) discuss problems encountered in development planning.
31.20  CONTENT
31.21  Meaning of economic growth and economic development
31.22  Characteristic of under-development
31.23  Goals of development
31.24  Factors which hinder development
31.25  Meaning of development planning
31.26  Need for development planning

31.27   Problems encountered in development planning.