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SubjectPaid lesson

Economic Development Planning

ClassNotes Team 9 MIN READUPDATED 23 JUN 2026

Economics S.S.S 3 Second Term

WEEK 4

Economic Development Planning

Performance Objectives

Student should be able to:

  1. Explain the meaning of Economic development planning.
  2. Differentiate between types of economic planning.
  3. Explain the importance of economics in national development.

Content

Meaning of Economic Planning

Economic planning refers to the process by which key economic decisions are made or influenced by the central government. Alternatively, Economic planning may be defined as the government’s conscious formulation of economic policies for the allocation of resources to all sectors of the economy over some time. It involves activities by government to influence, direct and control over the long run the level and growth of a nation’s economy.

Aim and Objectives of Economic Planning

1. To…