Teacher: Claire Peterson (student observer)
Subject Area: Social Studies
Grade Level: 5th
Unit Title: Economics
Lesson Title: Understanding Supply and Demand
Objectives: (13) Economics. The student understands the impact of supply and demand on
consumers and producers in a free enterprise system. The student is expected to:
(A) explain how supply and demand affects consumers in the United States
(14) Economics. The student understands patterns of work and economic activities in the United
States. The student is expected to:
(A) analyze how people in different parts of the United States earn a living, past and present
Materials/Resources Needed: Recipe, ingredients, play money, directions sheet with list of key
terms.
Anticipatory Set (List specific statements or activities you will use to focus students on the
lesson for the day.): Students will learn vocabulary associated with basic economics, including
but not limited to: supply, demand, surplus, shortage, budget, deficit. These words will be used
throughout the lesson to ensure understanding.
Objective/Purpose (For the student's benefit, explain what students will be able to do by the end
of the lesson and why these objectives are important to accomplish.): Students will be able to
define and explain each vocabulary term related to economics. This will give them a better
overall understanding of the global economy and how countries trade goods and services with
one another.
Input (What information is essential for the student to know before beginning and how will this
skill be communicated to students?): Students will first learn what it is they are going to be doing
by reading and going over a set of simple directions. Teacher will explain the terms the students
will be learning, and assign roles for each student to perform.
Model (If you will be demonstrating the skill or competence, how will this be done?): Teacher
will read instructions and go over any questions the children may have, as well as provide
constant guidance throughout.
Check for Understanding (Identify strategies to be used to determine if students have learned the
objectives.): Teacher will review vocabulary terms after the lesson is over and bring up questions
that relate to economics, such as embargos and tariffs.
Guided Practice (List activities which will be used to guide student practice and provide a time
frame for completing this practice.): Students will be given a recipe and ingredients and a period
of approximately 15 minutes to buy, trade and sell with other groups in order to complete their
recipe. Students will each be given jobs and will be given a certain amount of money to start
with and will use that money to pay rent, buy goods and services, etc.
Closure (What method of review and evaluation will be used to complete the lesson?): Teacher
will review the activity and inquire as to what the children felt they gathered from the lesson. If
further instruction or refocusing is necessary, teacher will review in greater detail.
Independent Practice (List homework/seatwork assignment to be given to students to ensure they
have mastered the skill without teacher guidance.): A brief quiz over the vocabulary terms will
be administered at the conclusion of the lesson.