This is a complete lesson plan about how supply and demand interact to achieve equilibrium. Students discover how equilibrium is achieved in a market economy, and they explore how real-world changes in supply and/or demand affect price and quantity. (This lesson is part of a larger unit on Supply and Demand
THIS DOWNLOAD INCLUDES:
1) Warm Up Activity -- market simulation where students buy and sell seafood.
2) PowerPoint Presentation -- contains the lecture and is a guide for all activities.
3) Note Sheet -- students fill out this note sheet during the lecture.
4) Class Activity -- students determine how news headlines affect price and quantity.
5) Quiz -- Assesses student understanding of the included learning targets.
6) Homework -- additional problems containing news headlines and graphing.
7) Teacher Materials -- includes a detailed lesson plan, answer keys, all necessary documents for the Warm Up Activity, and a "Read Me" document explaining how to use the materials included.
TOPICS FOR THE LECTURE:
1) Definition of equilibrium
2) How market forces pull above-equilibrium prices down
3) How market forces push below-equilibrium prices up
4) Changes in price and quantity when demand and/or supply change
(If you would like to download one of my PowerPoint slideshows to get a feel for my style, check out my free download here
This lesson is the fourth day of a six-day unit on Supply and Demand that was designed using national standards from the Council for Economic Education. It should take 80 - 90 minutes, which is perfect for the block schedule, but it can also be easily split in half for classes that run closer to 50 minutes.
Equilibrium - Lesson Plan and Activities
by Nick Samsal
is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License