Unit: Supply and Demand Model
Introduction: 1. Begin class
with 5 minute review of supply and demand
which have been covered independently.
Have supply information on the board for students to
on one graph and demand information on the board for students to graph
on another graph.
Walk students through combining the two graphs to
students will be able to determine equilibrium price and quantity from
a set of 10 graphs with 90% accuracy.
students will be able to draw a Supply and Demand graph given 5 sets of
fictitious information with 90% accuracy.
students will be able to demonstrate the consequences of changes in Supply
and Demand on equilibrium price and quantity on a worksheet with 10 problems
with 90% accuracy.
students will be able to identify factors that influence shifts in Supply
and Demand in a list identifying at least 4 possible factors.
students about the graphs created at the beginning of the class.
do they intersect?
ideas about what that might mean?
equilibrium price and quantity and how to identify it.
overheads of several Supply and Demand graphs, clearly identifying the
intersection point as the equilibrium price and quantity.
more overheads. Ask students to identify equilibrium in each example.
each student a transparency with either a supply or demand graph on it.
Each pair of graphs will have matching equilibrium information. Students
will need to find the partner with the opposite (supply or demand) graph
that creates the correct equilibrium information.
Supply and Demand review problems from text. Given information students
must graph and identify equilibrium.
students information to graph a new Supply line on graph created at beginning
of lesson plan.
What this did to the equilibrium?
the same thing with a new Demand line
Now where is the equilibrium?
sample graphs on the board. Have students give instructions for the Supply
and Demand shifts.
students tell you where new equilibrium is located.
the same overheads from the prior exercise except there will now be groups
of four instead of pairs and they will all contain the same shift information
for the new equilibrium.
with pre-drawn Supply and Demand graphs and shift information. Students
must draw in new lines and identify new equilibrium for each graph.
will also be assigned to brainstorm possible ideas as to what may cause
shifts. Minimum of 4 possibilities. They will be the next topic of discussion.