DIPLOMA IN EDUCATION PROGRAMME
SCHOOL OF EDUCATION
UNIVERSITY OF THE WEST INDIES, ST. AUGUSTINE
Economics LESSON PLAN
TEACHER
Miss Kimerlee Soo Ting
DATE
20.11.15
CLASS
Lower Six
TIME
11.30
UNIT
1 period(s)
60
minutes
Market structure, Market failure and intervention
TOPIC
Market failure
PRE-KNOWLEDGE
Students should understand the concept of a market and its operations
Students should be familiar with the objectives of economic agents
Students should be familiar with various economic systems
OBJECTIVES:
Pupils will:
Classification
Be able to:
Define the term market failure
Cognitive - Recall
Define the terms Public and Demerit goods
Cognitive- Recall
Explain the characteristics of a public good
Cognitive- Understanding
Understand the concept of a demerit good
Cognitive- Understanding
Appreciate causes of markets failure
Affective- Critiquing
Appreciate the consequences of their actions on others
Affective- Judging
Construct and deconstruct the formula for Private, External,
Psychomotor - Calculate
and Social benefits and costs
SET INDUCTION Time allotted: 10 mins
Question: Do you think that using the market forces of demand and supply, is best way to allocate
goods and services?
SECTION 1- Time allotted: 20 mins
Define market failure
Explain public goods as a source of market failure.
Distinguish between a private good and public good.
Explain the meaning of rivalrous and excludable.
Explain the meaning of a free rider
METHOD
Teaching Strategy
Student Activity
Resources
Use of pictures to demonstrate
Students will be questioned on the pictures
Powerpoint
who provides public goods
shown.
Cake
and to emphasize that market
Pictures
forces will be inefficient.
Napkins
Use of a cake, where students
Students will be questioned on their
will be asked to take piece to
observations from the activity
demonstrate rivalry and
excludability.
SECTIONAL REVIEW and feedback (formative assessment strategies) Time allotted: 5 Mins
Summary and oral questioning
SECTION 2- Time allotted: 15 mins
Content:
Teaching points:
Define demerit good
Distinguish between Social Cost, Private Cost, External Cost
Introduce the equation SMC = PMC + EMC
METHOD
Teaching Strategy
Students will be required in groups of 4 to
Video presentation of the give feedback on the video.
effects of secondhand smoke
Student Activity
Role play
Resources
Powerpoint
Video
Students will be required to write down the
value of their external cost
SECTIONAL REVIEW and feedback (formative assessment strategies) Time allotted: 5 mins
Summary and oral questioning
SECTION 3- Time allotted:
Content:
Teaching points:
METHOD
Teaching Strategy
Student Activity
SECTIONAL REVIEW and feedback (formative assessment strategies) Time allotted:
Resources
CLOSURE Time allotted: 5 mins
Summary
FINAL EVALUATION
Time allotted 10 mins
Reasonable level of achievement:
Multiple choice questions (12)
Related Objective
1-4, 8
FOLLOW-UP ACTIVITIES
Students are required to read up on monopolies and imperfect information and how they contribute to
market failure
TEACHERS EVALUATION OF THE LESSON
TUTORS COMMENTS
