Economics Overview Lesson Plan

Subject: Social Studies

Grade: 9
Date:
Critical Inquiry Question: To what extent do economic systems affect quality of life?
Lesson: Economics Overview
Time: 40 minutes
GLO: 9.2- Students will demonstrate an understanding and appreciation of how economic
decision making in Canada and the United States impacts quality of life, citizenship and identity.
SLO: 9.2.4- Students will compare and contrast the principles and practices of market and mixed
economies by exploring and reflecting upon the following questions and issues:
What are the principles of a market economy?
Why do governments intervene in a market economy?
Why is Canada viewed as having a mixed economy?
Instructional Objectives:
Students will identify the key features present in a market and mixed economy.
Knowledge:
Students will understand that the forces of supply and demand and competition are
present in both market and mixed economies.
Students will recognize that government intervention affects economies, and that both
market and mixed economies theoretically allow for different degrees of government
intervention.
Key Questions:
Critical Inquiry Question To what extent do economic systems affect quality of life?
Related Questions What is a market economy?
What is a mixed economy?
How do the forces of supply and demand affect the economy?
Materials:
SMART Board
PowerPoint presentation
Assorted markers
Pencils
Pens
Blank paper
Coloured paper
Assorted crafting supplies
Monopoly money
Preparation:
Crafting supplies are hidden from students but easily accessible at the front of the class
Desks are to be arranged in groups of five before class begins
The pros and cons sheet for round one and two are minimized on the SMART Board

VINCK 1

PowerPoint which guides the lesson is loaded

Adaptations:
Model the process for students who struggle
Ensure that students who do not work well together are separated into different groups
Sponge activity: Students who finish early can discuss amongst themselves what they
have noticed about each round of the activity/3-2-1 exit slip can be distributed early
Lesson Procedure:
1. Greet class and reinforce classroom management approach that was introduced to them
the day prior.
2. Introduce todays lesson through the use of an agenda. Explain that in todays lesson they
will be exposed to key terms such as: market economy, mixed economy, supply and
demand, and competition.
3. Direct students attention to the pre-assigned groups that have been determined the class
prior.
4. Explain to students that they are designing an advertisement for a new electronic and that
I will play the role of the consumer as well as government policy. They will be given a
certain amount of money to buy supplies with. Groups that contribute more will be paid
more money for their ideas. As you explain, divide money amongst students: Group 1:
$20, group 2: $50, group 3: $100, group 4: $500, Group 5: $600. 8 minute point.
5. Direct students attention to the various costs of materials on the PowerPoint and tell
them to come collect their materials quickly.
6. As soon as students have gathered materials, tell them they have 5 minutes to design their
advertisement.
7. At the end of the first round, pay small amounts of money to the lower groups, and larger
amounts to the richer groups. 15 minute point.
8. In the second round, tell students that a new government will now tax groups making
$100-400 25% of their income and over $400 50% of their income. As they come up to
return their supplies, collect the tax.
9. Give students 5 minutes to complete their advertisements. 20 minute point.
10. Get students attention back and ask them to return all materials to the front of the class.
11. When students are back in their desks ask them how they felt about each round.
12. Bring up pros and cons chart on computer and discuss pros and cons of both round one
and round 2. 30 minute point.
13. 3-2-1 Assignment- Ask students to hand them in to you before leaving for their next class.
Stand at the door and ask students to repeat their names one more time to help with
remembering names.
Assessment:
Formatively assess classroom discussion and participation- Fill in pros and cons lists for
each round on the SMART Board (at a later class these lists will be distributed to the
class)

VINCK 2

Formatively assess 3-2-1 exit card- Ask students write 3 things they know about
economics, 2 things they have learned from the lesson, and 1 question they want to be
addressed during the unit.

Objectives:
Students can identify some key attributes of mixed and market economies
Students can identify the forces of supply and demand at work.
Students can appreciate how government intervention affects the economy.
Lesson Reflection:

VINCK 3