Lesson Plans - Details

Theme: Market Structure and Market Failure

  • 25 May 2018
  • Posted by: Maureen Rowe-Campbell
  • Number of views: 6246
Theme: Market Structure and Market Failure
Students’ age range: 14-16
Topic: Market Failure. This occurs when there is an inefficient allocation of goods and services in a free market.
Description: The topic of the lesson will be written on a whiteboard.
Objectives will be communicated to students orally and will also be written on a whiteboard.
Introduction: As a student state some market failure you have experienced/is experiencing
Ex. Too few buses on route so you have to get up extra early and this may also cause security risk

Students will be asked to define the term Market failure using any available source in the class. (Mainly smartphones, tablets and textbooks. They will then discuss this definition with a pair. Students will next randomly share the meaning of Market failure with the entire class (10 Minutes)

Students will watch a video on the causes of Market Failure, they will be required to take notes during the watching of the video. At the end of the video students will be given a worksheet to complete reinforcing the causes of Market failure. Pairs wil look at the answered worksheet, discuss and then this will be handed to the teacher for marking. (30 Minutes)

Role play, The consequences of Market failure. a rubric will be given to students outlining the expectations. (15 minutes)
Each CRITERIA will be judge using a 5 point scale 5 4 3 2 1
Speech was clear with appropriate volume and tone
Role was played in a convincing and consistent manner
Viewpoints and information presented are accurate
Costumes/props/etc are properly used
Role-play was well-prepared and organized
Role-play captured and maintained audience interest

Students will be placed in FIVE groups. They will be given 15 minutes to prepare for the presentations. each group will be give 5 minutes to complete their prsentation.

The Fish bowl strategy will be used as a whole group discussion to bring out the salient points in Market Failure. Emphasis will be placed on the explanation of the various consequences of Market filure and how it may be applied to their society. One person from each group previously formed will be a part of the fish bowl to start the discussion. After that person has given two points they will be replaced by someone else from that group. This will last for approximately (30 minutes)

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