This document summarizes lecture 2 on differential equations of first order and first degree. It discusses the definition of a differential equation of first order and first degree as one of the form dy/dx = f(x,y). It then describes two types of these differential equations - variable separable form, where the equation can be written as f(x,y)=M(x)N(y) or f(x,y)=M(x)/N(y), and provides an example of solving this type by integrating both sides.