Worksheets

Introduction: 1. Begin class with 5 minute review of supply and demand

which have been covered independently.

2. Have supply information on the board for students to

graph on one graph and demand information on the board for students to graph on another graph.

3. Walk students through combining the two graphs to

one newgraph.

II. Objectives

A.The students will be able to determine equilibrium price and quantity from a set of 10 graphs with 90% accuracy.

B.The students will be able to draw a Supply and Demand graph given 5 sets of fictitious information with 90% accuracy.

C.The 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.

D.The students will be able to identify factors that influence shifts in Supply and Demand in a list identifying at least 4 possible factors.

Exercise One

III. Instructional Plan

A.Ask students about the graphs created at the beginning of the class.

1.Do they intersect?

2.Where do they intersect?

3.Any ideas about what that might mean?

B.Explain equilibrium price and quantity and how to identify it.

IV. Modeling and

V. Checking for Understanding

A.Show overheads of several Supply and Demand graphs, clearly identifying the intersection point as the equilibrium price and quantity.

B.Present more overheads. Ask students to identify equilibrium in each example.

VI. Guided Practice

A.Give 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.

VII. Independent Practice

A.Assign Supply and Demand review problems from text. Given information students must graph and identify equilibrium.

Exercise Two

III. Instructional Plan

A.Give students information to graph a new Supply line on graph created at beginning of lesson plan.

B.Ask: What this did to the equilibrium?

C.Do the same thing with a new Demand line

D.Ask: Now where is the equilibrium?

IV. Modeling and

V. Check for Understanding

A.Draw sample graphs on the board. Have students give instructions for the Supply and Demand shifts.

B.Have students tell you where new equilibrium is located.

VI. Guided Practice

A.Use 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.

VII. Independent Practice

A.Worksheet with pre-drawn Supply and Demand graphs and shift information. Students must draw in new lines and identify new equilibrium for each graph.

B.Student 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.