This is a complete lesson plan that serves as an introduction to the concept of monopoly. It explores the characteristics of monopolies, the ways in which they maintain market power, and how society attempts to control them. (It pairs nicely with my lesson plan on The Logic of Monopoly
, and it is also part of a larger unit on Market Structure
THIS DOWNLOAD INCLUDES:
1) Warm Up Activity -- compare the characteristics of monopoly to the board game.
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 whether a market is a monopoly or not.
5) Homework -- students analyze historic antitrust cases.
6) 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) Characteristics of monopolies
2) Barriers to entry
3) Types of monopoly: geographic, technological, legal, and natural
4) How monopolies control price and output
5) Why preventing monopolies may be desirable
6) How government regulates necessary monopolies
(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 seven-day unit on Market Structure
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.
The Basics of Monopoly - Lesson Plan and Activities
by Nick Samsal
is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License