Level: 1r Batxillerat
TOPIC / TITLE:
ECONOMICS – Unit 3 – The Market
Lesson I - Demand, Supply and Market Equilibrium
Duration: 4 hours +
Homework (1h 30m)
OBJECTIVES / COMPETENC ES:
At the end of this lesson, most students will be able t o:
·
·
·
·
Explain what is meant by demand (supply).
Analize what is shown by a dem and (supply) cur ve.
Understand the difference between a change in t he quantity demanded (supplied) an d a change in demand (supply).
Explain the meaning of equilibrium in a market.
CONTENT
CONTENT
Pupils will be int roduced to…
Demand (Supply) t ables and
curves
The law of demand
Changes in dem and (Supply) Vs
changes in quant ity demanded
(Supplied)
The equilibr ium of a market
CONTENT
Pupils will be able t o…
COMMUNICATION
Pupils will lear n, use, have t o
understand…
Understand the meaning of demand
(supply) tables and curves
· Language of
Justify the shape of the demand
Specific economic vocabulary
(supply) curves
Math vocabulary (graphs, tables
Explain how the equilibrium of a
and equations)
market is reached
Identify non-equilibrium situations
· Language for
Asking questions
COGNITION
COGNITION
Giving opinions
Pupils will be o ffered opportunities Pupils will be able t o…
Comparing situations
to…
Interpreting graphs
Make demand and supply tables
Solving problems
Do research on markets
Analyze graphically supply and
Compare situations in which
demand curves
· Language through
supply and demand factors change Solve problems related to market
Class and activities instructions
Work on case studies
equilibrium
Class participation
CULTURE
Pupils will be able t o…
Understand that the factors behind
the demand of a product are
different for different individuals
Look at Economics as a Social
Science
ASSESSMENT C RITERIA ON ECONOMICS
By the end of the lesson, students should be able to…
ASSESSMENT C RITERIA ON LANGUAGE
Items taken into account to assess the use of foreign language
Identify the factors behind a dem and (supply) cur ve
Distinguish between a change in dem and (supply) and a change in
quantity demanded (supplied)
Interpret demand and supply cur ves and tables
Use Excel worksheets as a means to build basic supply and demand
graphs and tables
Identify equilibrium and non-equilibrium situations in a market
Explain how changes in dem and or supply affect market equilibrium
Use of English when par ticipating in class
Use of economic and graph-related vocabulary
Feedback from students when asked t o participate
Class participation
Written expression
ACTIVITIES / TASKS
To be done in class and/o r at home
Power Point presentation: Introduction to Markets / Demand of a product
Power Point presentation on Supply
Multiple Choice Interactive Test on Supply and Dem and
Power Point presentation on Market Equilibrium
Graphic Analysis o n Supply, D emand and Market Equilibrium
An Economics Cartoon
Reading on Alfred Marshall
Level: 1r Batxillerat
TOPIC / TITLE:
ECONOMICS – Unit 3 – The Market
Lesson II - Market Allocation of Resources
Duration: 2h 15m
+ Homework
(45m)
OBJECTIVES / COMPETENC ES:
At the end of this lesson, most students will be able t o:
· Explain the meaning of prices in a free market economy.
· Understand the processes that lead the market towards equilibrium.
· Understand how a free market tries to solve the basic economic problems.
CONTENT
CONTENT
Pupils will be int roduced to…
CONTENT
Pupils will be able t o…
The three questions of Economics
Market allocation of resources
The Invisible Hand Met aphore
Understand the meaning of prices in
a free market
Look at the market as a means to
solve economic problems
Assess some pros and cons of the
free market system
COGNITION
COGNITION
Pupils will be o ffered opportunities Pupils will be able t o…
to…
Analyze the mechanism that makes
Interpret formal texts and news
market work
Summarize and make conclusions
Make conclusions on how markets
from different sources of
solve the basic eco nomic problems
information
COMMUNICATION
Pupils will lear n, use, have t o
understand…
· Language of
Specific economic vocabulary
· Language for
Asking questions
Giving opinions
Comparing situations
Expressing ideas
· Language through
Class and activities instructions
Class participation
CULTURE
Pupils will be able t o…
Know the origins of the Economic
Science
Look at Economics as a Social
Science
Question themselves about the kind
of society they want
Show respect for different points of
view
ASSESSMENT C RITERIA ON ECONOMICS
By the end of the lesson, students should be able to…
ASSESSMENT C RITERIA ON LANGUAGE
Items taken into account to assess the use of foreign language
Know the fundamental economic questions a society tries to answer
Understand the meaning of the Invisible Hand metaphore
Explain how markets solve the basic eco nomic questions
Understand the role of prices in a free market system
Use of English when participating in class
Use of economic vocabulary
Feedback from students when asked t o participate
Class participation
Written expression
ACTIVITIES / TASKS
To be done in class and/o r at home
Power Point presentation: The three fundamental economic questions / Market allocation of resources
Language scaffolding and writing
Reading and writing – The Invisible Hand
Level: 1r Batxillerat
TOPIC / TITLE:
ECONOMICS – Unit 3 – The Market
Lesson III - Prices and Elasticity
Duration: 2h 30m
+ Homework
(30m)
OBJECTIVES / COMPETENC ES:
At the end of this lesson, most students will be able t o:
·
·
·
·
Calculate the Total Revenue of a firm.
Understand the influence of price elasticity on the pricing policies of a firm.
Analize the price-elasticity of a demand (supply) cur ve.
Calculate the value of price-elasticity of a demand curve.
CONTENT
CONTENT
Pupils will be int roduced to…
CONTENT
Pupils will be able t o…
The Total Revenue o f a firm
The concept of price-elasticity of a
demand (supply) cur ve
The relation between prices,
revenues and elaticity
Explain the relation between prices,
revenues and elast icity
· Language of
Understand the importance of
Specific economic vocabulary
elasticity for a firm’s pricing policies Math vocabulary (graphs and
equations)
COGNITION
COGNITION
Pupils will be o ffered opportunities Pupils will be able t o…
to…
Analize graphically supply and
Compare situations where curves demand curves
elasticities are different
Make decisions on pricing policies
Work on case studies
Calculate elasticities
Solve problems regarding prices,
revenue and elast icity
COMMUNICATION
Pupils will lear n, use, have t o
understand…
· Language for
Asking questions
Giving opinions
Comparing situations
Interpreting graphs
· Language through
Class and activities instructions
Class participation
CULTURE
Pupils will be able t o…
Understand Economics is a Social
Science
Look at the world from an
economic perspective
ASSESSMENT C RITERIA ON ECONOMICS
By the end of the lesson, students should be able to…
ASSESSMENT C RITERIA ON LANGUAGE
Items taken into account to assess the use of foreign language
Interpret demand and supply cur ves and tables
Explain the importance of price-elasticity for pricing policies
Calculate the price elasticity of a demand curve
Use of English when par ticipating in class
Use of economic and graph-related vocabulary
Feedback from students when asked t o participate
Class participation
Accuracy of students work
Written expression
ACTIVITIES / TASKS
To be done in class and/o r at home
Case Study - The Theater Enigma
Power Point presentation: Price-elasticity of demand and supply
Reading graphs
Word Search