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1. Topic-
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2. Goals: Aims/Outcomes-
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1.Define "supply" and "demand" in terms of economics.
2.Explain how supply and demand affect the US economy every day (production,
prices, etc.). |
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3. Objectives-
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1.Students will be able to determine the purpose of supply and demand
systems in a free enterprise economy.
2.Students will be able to analyze the effect of supply and demand
curves on product prices. |
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4. Procedures/Methods-
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A. Introduction-
1.Open with a common example of price fluctuations on an everyday
product.
2.Pose the question of why the price of such an item would change.
3.Introduce the idea of supply and demand as the answer. |
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B. Development-
1.Use graphs to demonstrate supply and demand curves.
2.Explain the concept of scarcity as applies to products. |
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C. Practice-
| 1.Example problems worked through together on the board. |
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D. Independent Practice-
1.Brief worksheet handed out to demonstrate understanding.
2.Open discussion of how the concept can be important in daily life. |
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E. Accommodations (Differentiated Instruction)-
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F. Checking for understanding-
1.Students can ask questions during independent work of the concept
is not fully understood.
2.Upon grading worksheets, determine whether the class grasped the
concept well. |
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G. Closure-
1.Explain that the concepts of supply and demand are vital to the
study of free enterprise economics.
2.Encourage students to ask any remaining questions before being released. |
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5. Evaluation-
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1.Worksheet to be completed during class.
2.Material included on the next test. |
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6. Teacher Reflection-
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| While supply and demand is a simple concept, it is an essential
one to an understanding of economics. Even seemingly boring lessons
like this can be spiced up thanks to technology, so I'll need to think
of clever way to make this basic idea more engaging. |
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