SSE 4335/5946 Microteach LessonPlanTemplate_Spring 2012
General Information
Student
Name:
School:
Clinical
Instructor:
Date of
Microteach:
Microteach
Teach #:
H.S./Middle
School
course:
Vanializ Agramonte
Alonso High School
Mr. Miliziano
Wednesday February 29th
3
Economics
Microteach
Title
Topic
Competition and Market Structures
The Four Market Structures
Big Ideas
The students will be able to distinguish and identify characteristics of the four market structures.
Theme
Strand
Strand
Theme
Strand
Strand
Standard
Benchmark
Code
Benchmark
NCSS Standards 1
GLOBAL CONNECTIONS—Social Studies programs should include experiences
that provide for the study of global connections and interdependence, so that the
learner can:
B. give examples of conflict, cooperation, and interdependence among individuals,
groups, and nations;
E. examine the relationships and tensions between personal wants and needs and
various global concerns such as use of imported oil, land use, and environmental
protection;
NCSS Standards 2
CIVIC IDEALS AND PRACTICES—Social Studies programs should include
experiences that provide for the study of the ideals, principles, and practices of
citizenship in a democratic republic, so that the learner can:
H. explain how public policies and citizen behaviors may or may not reflect the
stated ideals of a democratic republican form of government;
D. give examples of the various institutions that make up economic systems such as
families, workers, banks, labor unions, government agencies, small businesses, and
large corporations
Florida SSE Sunshine State Standards 1
Standard1: Understand the fundamental concepts relevant to the development of a
market economy.
SS.912.E.1.6
Compare the basic characteristics of the four market structures (monopoly,
oligopoly, monopolistic competition, pure competition).
1
SSE 4335/5946 Microteach LessonPlanTemplate_Spring 2012
Instructiona
l Sequence
& Strategies
Bell Work
Class Notes
Teacher Talk and Content:
-Place instructions on the board: “In your notebook, copy down the
chart being displayed on the board.”
2
Resources &
Course
Materials
Attachment 1
Basic T-Chart
5 minutes
Content
Presentation
-Debriefing: Do not worry about filling it out, we will be doing that
later.
-Today we will be going over the four types of market structures.
-Divide the class into the four types. Perfect competition should have
about 15+ students, monopolistic competition should have about 4 or
5 students, oligopoly should have 3, and monopoly will have 1.
Simulation
15 minutes
-State: Today you’re going to be selling me candy.
-Give each student a specific type of candy. Tell students “Please
don’t eat it!”. Everyone in perfect competition gets a smartie (so take
one and pass it down). Everyone in monopolistic competition gets a
flavored tootsie roll. Everyone in oligopoly gets a regular tootsie roll
(all the same). And the monopoly gets a caramel.
-Take out a blank sheet of paper.
-Explain that you will buy a piece of candy from one “firm” in each
market.
-Inform that I will “pay” somewhere between 25 cents and 5 cents and
I will allow them, the firm/student, to come up with the price of your
candy. But make sure you think about it before decide a price. Choose
your price strategically.
-Write down on your piece of paper, nice and big so I can read it, what
your price is, but don’t let anybody see. Monopolistic firms cannot
talk, oligopoly firms can talk.
-Alright, now that we’ve got our prices, look over at each other and
scowl. After all, you are competing against each other. ;)
-Start with perfect competition. Have them show their process, choose
the lowest price, thank them for their business. Then do it again. Have
only perfect competition choose their price again (make sure other
forms do not change their prices). What happened second time? More
people should have a lower price. Move on to monopolistic
competition, choose the lowest. Move on to oligopoly, choose lowest
(should all be around the same price, closer to the 25 cent range). Ask
if anyone is surprised. Then ask the monopoly their price. Should
Candy:
Smarties,
tootsie rolls,
flavored
tootsie rolls,
caramels
SSE 4335/5946 Microteach LessonPlanTemplate_Spring 2012
3
absolutely be 25 cents, ask if anyone is surprised.
-Do it again. Have all the forms re-price their candy. Allow for people
to move from perfect to monopolistic if they so chose (not too many).
If someone suggests it, they can even talk in monopolistic and perfect.
When you do the prices, you should still find that someone has written
5 cents in perfect and a really low number in monopolistic as well.
Oligopoly will stay roughly the same and monopoly has no reason to
move.
-If there is time, you can run the simulation a third time, just to drive it
home.
Debriefing
(with chart)
Debriefing:
-Okay, let’s get back to our regular seats and go over what we just did.
5 minutes
-Take out the charts you copied from the beginning of class.
-Have students explain the characteristics of the market structures, as
per the chart following the categories, starting with perfect
completion. Leave “Barriers to entry” to the very end of the chart
discussion.
- Make sure/remind students to fill in the chart as we go along.
-Our chart should now be complete.
Practice
-Any questions?
-If there is still time we will turn to page 172 and read “Profiles in
Economics”.
10 minutes
-Ask for volunteers to read.
-After article is read, I will ask for everyone to take a moment and
think about the significance of the story.
-Then, after about 30 seconds, I will ask them what kind of market
structure was most similar to Charles Wang’s company, and why.
Take a few volunteers.
Practice
10 minutes
-Any questions?
-Divide the class into four sections: Monopoly, Oligopoly,
Monopolistic Competition, Perfect Competition (preferably not the
same students that were in these groups before, mix it up a bit)
-Instruct the class that in their groups they are to come up with an
example of their category. They have about 3-5 minutes.
Attachment 2
Filled in TChart
Attachment 3
Textbook
Section
4
SSE 4335/5946 Microteach LessonPlanTemplate_Spring 2012
-After 3-5 minutes, start with a group and have them explain their
example. Discuss with the class and even expand if you can.
-Once you have gone through every group, ask if there are any
questions.
References:
Clayton, Gary E. "Forms of Business Organization." Economics: Principles & Practices. New York:
McGraw-Hill/Glencoe, 2005. 163-172. Print.
ACDCLeadership. "Micro 3.9 Four Market Structures Simulation for AP Economics."
YouTube. YouTube, 22 Aug. 2010. Web. http://www.youtube.com/watch?v=KGrmnynjHjI.
Attachments:
1. Basic T-Charts
2. Filled in T-Chart
3. Textbook Section (attached as PDF)
Attachment 1: Basic T-Chart
The Four Market Structures
Market
Structure
Perfect Competition
Monopolistic
Competition
Oligopoly
Monopoly
Control
Number of
Over Price Firms
Types of
Goods
Barriers to
Entry
5
SSE 4335/5946 Microteach LessonPlanTemplate_Spring 2012
Attachment 2: Filled in T-Chart
The Four Market Structures
Market
Structure
Control Over
Price
Number of
Firms
Types of
Goods
Barriers to
Entry
Perfect
Competition
None
All the same;
Identical
Monopolistic
Competition
Some control
Oligopoly
A lot
Many small firms
(talking in terms
of thousands)
Many small firms
(talking in terms
of hundreds)
Few (talking in
terms of tens)
Low barriers, not
that hard to get
into
Low barriers, not
that hard to get
into
High barriers, very
difficult to create
Monopoly
Total control
One
Differentiated,
slightly different,
not identical
Same (identical)
or different, it
doesn’t really
matter
Unique; different
High barriers, very
difficult to create