Economics
Lesson PlansUnit 4 – Microeconomics
Mississippi Framework Curriculum
Objectives
5. Understand that markets exist when buyers and sellers interact and engage in exchange.
a. Analyze, using supply and demand curves, the relationship of the concept of incentives to the law of supply, and the relationship of the concept of incentives and substitutes to the law of demand. (DOK 3)
b. Investigate and explain how markets determine prices and thereby allocate goods and services and describe how market prices send signals and provide incentives to buyers and sellers. (DOK 2)
6. Understand the personal economic consequences of spending and investment decisions made by individuals, businesses, and governments.
a. Demonstrate how American culture promotes entrepreneurship. (DOK 3)
c. Analyze the effects of advertising, marketing, and American popular culture on people‘s economic choices (consumerism, charitable giving, entertainment spending, etc.)
Friday
AssessmentStudents will take a test on Supply and Demand.
Unit 4 – Microeconomics
VocabularyStudents will use their textbooks to complete a crossword using vocabulary terms
Monday
FeedbackStudents will receive their Supply and Demand tests and have an opportunity to look over them
LessonTeacher will explain the four types of market structures
ActivitiesMarket Structure Chart – students will use the information in their notes to complete a chart categorizing the characteristics of market structures
Film Students will answer question about productivity while watching the History Channel’s production of American Eats – Ice Cream
Tuesday
LessonTeacher will differentiate between the three types of business organizations
LessonStudents will read a packet on Stock Market Basics and answer questions.
Wednesday
AssessmentStudents will take a vocabulary quiz
OngoingStudents will go to the computer lab to register for a stock market simulation game
Thursday
LessonTeacher will explain how companies calculate production costs and profit or loss
Guided
PracticeTeacher will guide students through the calculation process
ActivityStudents will solve calculation problems
Friday
ActivityStudents will participate in an activity in which they will demonstrate how division of labor and specialization increase productivity and reduce costs to the firm.
Monday
FilmStudents will watch The Founder and answer questions about it while watching
Tuesday
FilmStudents will finish watching The Founder with questions about it
ReviewProvided that students can behave, the teacher will review them for their test tomorrow
Wednesday
AssessmentStudents will take test on Unit 4 – Microeconomics
Unit 5 – Macroeconomics
VocabularyStudents will use their textbooks to complete a crossword using vocabulary terms
*These lesson plans will be adapted according to IEP and Special Education recommendations and accommodations.