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, behaviours, and ways to recognize new opportunities.
Enjoy your learning journey through Module 2!
Module 2: Course objective
- 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, behaviours, and opportunities, preparing them to identify and pursue potential business ventures.
Module 2: Content
Unit 5: Introduction to Production and Cost
Lesson 1: Definition of Production, Inputs and Outputs
- Lesson Activity
- Lesson summary
- self-check exercises
- downloadable offline resources
Lesson 2:Periods of Production
- Lesson Activity
- Lesson summary
- self-check exercises
- downloadable offline resources
Lesson 3:Cost of Production
- Lesson Activity
- Lesson summary
- self-check exercises
- downloadable offline resources
Unit 6:Introduction to Money
Lesson 1:Definition of Money
- Lesson Activity
- Lesson summary
- self-check exercises
- downloadable offline resources
Lesson 2:Evolution of Money
- Lesson Activity
- Lesson summary
- self-check exercises
- downloadable offline resources
Lesson 3:Functions of Money
- Lesson Activity
- Lesson summary
- self-check exercises
- downloadable offline resources
Lesson 4:Demand and Supply of Money
- Lesson Activity
- Lesson summary
- self-check exercises
- downloadable offline resources
Lesson 5:Money and Electronic Banking
- Lesson Activity
- Lesson summary
- self-check exercises
- downloadable offline resources
Unit 7: Introduction to Macroeconomics
Lesson 1: Definition of Macroeconomic Variables
- Lesson Activity
- Lesson summary
- self-check exercises
- downloadable offline resources
Lesson 2:Macroeconomic Goals
- Lesson Activity
- Lesson summary
- self-check exercises
- downloadable offline resources
Lesson 3:Macroeconomic problems
- Lesson Activity
- Lesson summary
- self-check exercises
- downloadable offline resources
Unit 8: Basic Entrepreneurship
Lesson 1:Definition of Enterprise, Entrepreneur, and Entrepreneurship
- Lesson Activity
- Lesson summary
- self-check exercises
- downloadable offline resources
Lesson 2: Creativity and Innovation in Solving Local Problems
- Lesson Activity
- Lesson summary
- self-check exercises
- downloadable offline resources
Lesson 3:Entrepreneurial Attitudes, Behaviour and Mind-set
- Lesson Activity
- Lesson summary
- self-check exercises
- downloadable offline resources
Lesson 4:Windows of Entrepreneurial Opportunities
- Lesson Activity
- Lesson summary
- self-check exercises
- downloadable offline resources
Lesson 5: Entrepreneurial Success, Teamwork and Diversity
- Lesson Activity
- Lesson summary
- self-check exercises
- downloadable offline resources
Lesson 6:Finance and Promotion of Entrepreneurship
- Lesson Activity
- Lesson summary
- self-check exercises
- downloadable offline resources
Assessment Methods
Continual assessment is a great approach to ensure that students are consistently engaging with the material and reinforcing their learning. We implement quizzes per lesson in the modules by keeping quizzes short, focusing on key concepts covered in each lesson, and using a mix of items to cater to different learning styles. Providing instant feedback on quizzes helps students understand their mistakes and learn from them.
References
Mohammed, H., & Ababu, T. (2022). Economics student textbook: Grade 9. Federal Democratic Republic of Ethiopia, Ministry of Education, Hawassa University.
