This is a complete lesson plan about how price ceilings, price floors, and quantity controls distort markets out of equilibrium. It also explores the good and bad consequences of these price controls. (This lesson is part of a larger unit on Supply and Demand
THIS DOWNLOAD INCLUDES:
1) Warm Up Activity -- introduces price controls by analyzing the concert ticket market.
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 graph and answer questions about price controls.
5) Quiz -- Assesses student understanding of the included learning targets.
6) Homework -- students analyze news headlines about price ceilings and price floors.
7) Teacher Materials -- includes a detailed lesson plan, answer keys, and a "Read Me" document explaining how to use the materials included.
TOPICS FOR THE LECTURE:
1) How price ceilings cause shortages
2) Why price ceilings are inefficient
3) How price floors cause surpluses
4) Why price floors are inefficient
5) The effects of quantity controls
6) Pros and cons of price controls
(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 fifth 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.
Price Ceilings and Price Floors - Lesson Plan and Activities
by Nick Samsal
is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License