Unit Title

Market Economies at Work

Essential Questions
1. What is the relationship between supply and demand?
2. How can prices be an indicator of the state of the market economy?
3. What market structures are present in the economy?
Course and Grade Level
Economics
11th Grade
HSCEs
1.3.1 Law of Supply Explain the law of supply and analyze the likely change in
supply when there are changes in prices of the productive resources (e.g., land,
labor, capital including technology), or the profit opportunities available to
producers by selling other goods or services, or the number of sellers in a market.
1.3.2 Law of Demand - Explain the law of demand and analyze the likely change
in demand when there are changes in prices of goods or services, availability of
alternative (substitute or complementary) goods or services, or changes in the
number of buyers in a market created by such things as change in income or
availability of credit.
1.3.3 Price, Equilibrium, Elasticity, and Incentives - Analyze how prices
change through the interaction of buyers and sellers in a market including the role
of supply, demand, equilibrium, elasticity, and explain how incentives (monetary
and non-monetary) affect choices of households and economic organizations.

Learning Objectives
1.
2.
3.
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8.
9.

The student will define demand and outline what the law of demand says.
Explain how to interpret and create demand curves.
The student will create a demand curve using a demand schedule.
The student will be able to explain the causes for shifts in demand.
The student will identify the differences between a demand shift to the right
and a demand shift to the left.
The student will explain the Law of Diminishing Marginal Utility and be able to
give an example.
Define elasticity of demand
Identify the difference between elastic and inelastic demand.
Analyze the likely change in demand through the availability of substitute or
complementary goods or services.

10.Analyze the change in demand when there are changes in price of goods or
services.
11.The student will identify Supply and the law of supply.
12.Explain how to create and interpret supply schedules.
13.Explain how to create and interpret supply curves.
14.Understand how to determine a change in supply.
15.Identify the factors that can cause a change in supply.
16.Describe how prices act as incentives to producers.

Backwards Design Approach

I started with the standard that I had to follow and then I wrote my objectives from those
standards. After that, I started to make my lessons. For the quizzes and tests, I looked at
my objectives first and then made sure that I had a question that effectively measures each
objective.
Instructional Methods
For my instruction, I chose to do guided notes in some places but also I had the students get
involved by making Cornell Notes and a notes sheet that I found that will help them study for the
unit test. Along with that, I chose to do activities for graphing so they are able to see the way that
economics works. Lastly, I chose to do a current events worksheet so they are able to connect the
material to real life.
Assessments
Day 1: Informal Formative assessment of discussion and formal formative of the ticket out the
door.
Day 2: Informal formative assessment of checking the students graphs, formal formative of ticket
out the door and the worksheet (Activity 2).
Day 3: Formal formative of a quiz.
Day 4: The assessment for this lesson is looking at their notes sheets and the white boards at the
closure. I am able to see what they know through those two things.
Day 5: Hearing the scenarios that they come up with and checking for understanding through
guided notes.
Day 6: The assessment will be the Cornell Notes. I will walk around the room and check them
for credit.
Day 7: Assessment will be checking that students filled out their notes sheets. I will make a
check to see if they did it.

Day 8: Assessment will be the Grudge Ball game. I will be able to tell who needs to study more
and talk to those students about studying.
Day 9: Summative Assessment- Unit Test
Adaptions for Special Education

Give the students notes that are already filled in or have less spots to fill in.
Give extra time for the students to do their quiz.
Group students in tables based on level of learning.
Applying different learning styles.
With the current events worksheet, students only have to answer sections 1,2, and 4.
Cornell Notes

Two lessons with Additional Adaptions

On day 6, I am using the McDougall Littel website to show the students how equilibrium works
and show them the way the graph moves.
On day 8, I am having the students play Grudge Ball which is a fun review game in which they
get to move and also shoot a nerf ball.
Two Lessons with charts, graphs, data, and primary documents
I use graphs in day 2 for the Law of Diminishing Marginal Utility on the board.
I will be using the students information on day 4 in order to make a graph that they will
completely understand.
Technology
On day 6, the students are using a Tic Tac Toe game online.
On days 4, 5, 6, 7 I will be using YouTube videos to show information in a more exciting way.
I am also using power points in order to display my information.