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    Pearlexchangelessonplan

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    This lesson plan is for a 10-12th grade economics class and focuses on how supply and demand determine prices. Students will first review the concept through homework questions. They will then participate in a pearl exchange simulation where they buy and sell pearls, experiencing how price is set at the equilibrium point where supply and demand meet. Students will graph their results. The activity will be repeated with changes to supply and demand to demonstrate how prices rise when one increases and the other decreases. Finally, students will analyze political headlines to determine their impact on prices. Formative and summative assessments are integrated throughout the lesson.

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    Pearlexchangelessonplan

    Uploaded by

    api-278224437
    266 views3 pages
    This lesson plan is for a 10-12th grade economics class and focuses on how supply and demand determine prices. Students will first review the concept through homework questions. They will then participate in a pearl exchange simulation where they buy and sell pearls, experiencing how price is set at the equilibrium point where supply and demand meet. Students will graph their results. The activity will be repeated with changes to supply and demand to demonstrate how prices rise when one increases and the other decreases. Finally, students will analyze political headlines to determine their impact on prices. Formative and summative assessments are integrated throughout the lesson.

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    pearlexchangelessonplan

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    This lesson plan is for a 10-12th grade economics class and focuses on how supply and demand determine prices. Students will first review the concept through homework questions. They will then participate in a pearl exchange simulation where they buy and sell pearls, experiencing how price is set at the equilibrium point where supply and demand meet. Students will graph their results. The activity will be repeated with changes to supply and demand to demonstrate how prices rise when one increases and the other decreases. Finally, students will analyze political headlines to determine their impact on prices. Formative and summative assessments are integrated throughout the lesson.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    266 views3 pages

    Pearlexchangelessonplan

    Uploaded by

    api-278224437
    This lesson plan is for a 10-12th grade economics class and focuses on how supply and demand determine prices. Students will first review the concept through homework questions. They will then participate in a pearl exchange simulation where they buy and sell pearls, experiencing how price is set at the equilibrium point where supply and demand meet. Students will graph their results. The activity will be repeated with changes to supply and demand to demonstrate how prices rise when one increases and the other decreases. Finally, students will analyze political headlines to determine their impact on prices. Formative and summative assessments are integrated throughout the lesson.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 3

    Pearl Exchange Lesson Plan

    Grade level 10-12th Economics


    /subject
    Context I teach Economics during my 5th Bell class to 26 10-12th Grade
    description students. The Social studies department does not track students into
    certain classes so there are students from a variety of different
    levels. However, due to the nature of the class and its role as an
    elective there are traditionally many gifted students in the class .
    There is also only one student with a 504 plan who traditionally
    declines accommodations. There are a number of students who
    have an interest in economics or intend to pursue a career in a
    business related field.

    Standards met 5. Markets exist when consumers and producers interact. When supply or
    demand changes, market prices adjust. Those adjustments send signals and
    provide incentives to consumers and producers to change their own decisions.
    Objectives The students will be able to:
    1. Describe how prices are determined in a supply and demand
    simulation
    2. Analyze political decisions to determine their effect on the
    economy.

    Question of the How do prices get determined?


    Day?
    Resources Ch. 6 - Supply and Demand PowerPoint (for Bell Ringer)
    Supply and Demand questions (homework the night before)
    Pearl Exchange wkst (used in simulation)
    Government News Headlines - (used for final assessment)
    Red chips (pearls)
    Bell Ringer - At the start of class students will work independently on their
    bell ringer which will ask them to review material on supply and demand
    from the class before. Question will ask, What is the name for the price
    where quantity supplied and quantity demanded meet at?

    Teacher will walk around and check homework from the night before
    during this time.
    Instructional sequence:
    Instructional Segment 1- Homework Check (10 min)
    outline
    Teacher will go over homework with students
    Teacher will ask for a quick check of homework.
    Pearl Exchange Lesson Plan

    Segment 2- PreAssessment (10 min)


    Google Forms Survey
    Students use phones to go around the room and answer
    questions
    If they get the question wrong, it links them to a hint to get it
    right
    Students will get a word scramble to complete

    Segment 3: Simulation (25 min)

    Mr Cole will give students instructions for the pearl


    exchange. Students are going to buy and sell pearls with one
    another. Half the room will be buyers and half the room will
    be sellers. The maximum amount of money students have is
    $200.
    Students buy and sell and then the seller will come up and
    give me the price.
    Students will record their price and the equilibrium point of
    the market
    2nd Round - same instructions - used to calibrate our
    equilibrium price
    Students draw a quick graph to visually demonstrate their
    equilibrium price
    3rd Round - Sellers have 2 pearls, buyers only allowed to
    buy one
    Repeat procedures, Teacher discusses the rise in price
    4th Round - Buyers have to buy 2 pearls, sellers can only
    sell 1.
    Repeat procedures, teacher discusses the rise in price
    Students work on reflection questions

    Closure Teacher gives students 2 political headlines and will lead


    discussion about what each policy will do to prices.
    Differentiation The Pre-assessment/Reteaching activity to begin class is designed to target
    individual students who may struggle with the content from the day before.
    As a student gets an answer wrong, it links them to help.
    Formative assessments: Bell Ringer (Objective 1)
    Assessments of Google Forms (Objective 1)
    learning Simulation (Objective 1)
    Political Questions (Objective 2)
    Summative assessments:
    End of Unit 2 Test (Objective 1,2)
    Pearl Exchange Lesson Plan

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