Supply,+Demand+and+Markets

= **Unit 2: Supply, Demand, and Markets ** =

**How do choices and incentives influence the behavior of individuals, businesses and economics institutions? **
__**Suggested Pacing:** __


 * **Instructional Day** || **Learning Objectives** || **Time Allotted** ||
 * 1 and 2 || Objectives 1, 2 and 3 Demand || 80 minutes80 minutes ||
 * 3, 4 and 5 || Objectives 1, 2 and 3 Supply || 80 minutes80 minutes80 minutes ||
 * 6, 7, 8 and 9 || Objectives 1, 2, 3, 4 and 5 Combine Demand, Supply, and Market Clearing Price || 80 minutes80 minutes80 minutes80 minutes ||
 * <span style="font-family: 'Cambria','serif';">10 || <span style="font-family: 'Cambria','serif';">Flex time for reteaching and review Administer District Benchmark Assessment (25 selected response questions) || <span style="font-family: 'Cambria','serif';">40 minutes ||


 * __INITIAL Draft - Sample Unit Plan__**

__<span style="font-family: 'Cambria','serif';">**Learning Objectives and Lesson Ideas:** __

<span style="font-family: 'Cambria','serif'; line-height: normal; margin: 0in 0in 0pt;">-Series of questions within the PPT (D. Johnson) <span style="font-family: 'Cambria','serif'; line-height: normal; margin: 0in 0in 0pt;">-“I have one A for sale” and create a demand schedule <span style="font-family: 'Cambria','serif'; line-height: normal; margin: 0in 0in 0pt;">-Blank graph on the board and create a demand schedule <span style="font-family: 'Cambria','serif'; line-height: normal; margin: 0in 0in 0pt;">-FTE Simulation “In the Chips/Market and Wheat” <span style="font-family: 'Cambria','serif'; line-height: normal; margin: 0in 0in 0pt;">-Reffonomics (online) || <span style="font-family: 'Cambria','serif'; line-height: normal; margin: 0in 0in 0pt;">-Practice problems (scaffolded) <span style="font-family: 'Cambria','serif'; line-height: normal; margin: 0in 0in 0pt;">-PPT/Lecture || <span style="font-family: 'Cambria','serif'; line-height: normal; margin: 0in 0in 0pt;">-Worksheet in the textbook (funeral services) || <span style="font-family: 'Cambria','serif'; line-height: normal; margin: 0in 0in 0pt;">-PPT/Lecture <span style="font-family: 'Cambria','serif'; line-height: normal; margin: 0in 0in 0pt;">-Simulations <span style="font-family: 'Cambria','serif'; line-height: normal; margin: 0in 0in 0pt;">-Current event analysis and interpretation || <span style="font-family: 'Cambria','serif'; line-height: normal; margin: 0in 0in 0pt;">-Movement “along” the line versus and shift “of” the line <span style="font-family: 'Cambria','serif'; line-height: normal; margin: 0in 0in 0pt;">-Students need to understand what causes a shift; price does NOT cause a shift of the line || Hudsucker Proxy []
 * · <span style="font-family: 'Cambria','serif';">Explain the law of demand and the law of supply || <span style="font-family: 'Cambria','serif'; line-height: normal; margin: 0in 0in 0pt;">-PPT/Lecture
 * · <span style="font-family: 'Cambria','serif';">Construct and analyze a supply and demand graph || <span style="font-family: 'Cambria','serif'; line-height: normal; margin: 0in 0in 0pt;">-Using a schedule to construct a graph
 * · <span style="font-family: 'Cambria','serif';">Distinguish between elastic and inelastic and apply the concepts to a real situation || <span style="font-family: 'Cambria','serif'; line-height: normal; margin: 0in 0in 0pt;">-Examine examples
 * · <span style="font-family: 'Cambria','serif';">Using a schedule, plot a demand curve and a supply curve to find equilibrium price || <span style="font-family: 'Cambria','serif'; line-height: normal; margin: 0in 0in 0pt;">-FTE Simulation – “In the Chips”
 * · <span style="font-family: 'Cambria','serif';">Interpret graphs showing changing equilibrium prices resulting from changing demand and supply curves || <span style="font-family: 'Cambria','serif'; line-height: normal; margin: 0in 0in 0pt;">-Use a series of questions comparing examples (Kannapel)
 * __Video Clips__**

Dentist - Tooth Extraction (relates to lowest price) []

__**Demand**__ Activity: Products and Choices

__**Supply**__

__**Market Equilibrium**__ PowerPoint Lecture - Markets PowerPoint Lecture - Prices

Group Activity - Supply, Demand and Markets

Activity - Pizzeria

Demand, Supply, and Competition

Market Equilibrium

Markets

Simulation - In the Chips

Simulation - Utility


 * Assessment Ideas**