Goals & Objectives
- Students will be able to identify four different types of market structures.
- Students will understand the differences between each type of market structure.
- Students will complete a grid detailing specific aspects of each market.
California State Standards and Common Core Standards
California Content Standards
Common Core Literacy Standards
CCSS.ELA-Literacy.SL.11-12.2
Integrate multiple sources of information presented in diverse formats and media (e.g., visually, quantitatively, orally) in order to make informed decisions and solve problems, evaluating the credibility and accuracy of each source and noting any discrepancies among the data.
CCSS.ELA-Literacy.SL.11-12.5
Make strategic use of digital media (e.g., textual, graphical, audio, visual, and interactive elements) in presentations to enhance understanding of findings, reasoning, and evidence and to add interest.
CCSS.ELA-Literacy.W.11-12.3
Write narratives to develop real or imagined experiences or events using effective technique, well-chosen details, and well-structured event sequences.
- 12.2.7. Analyze how domestic and international competition in a market economy affects goods and services produced and the quality, quantity, and price of those products.
- 12.2.8. Explain the role of profit as the incentive to entrepreneurs in a market economy.
- 12.2.9. Describe the functions of the financial markets.
Common Core Literacy Standards
CCSS.ELA-Literacy.SL.11-12.2
Integrate multiple sources of information presented in diverse formats and media (e.g., visually, quantitatively, orally) in order to make informed decisions and solve problems, evaluating the credibility and accuracy of each source and noting any discrepancies among the data.
CCSS.ELA-Literacy.SL.11-12.5
Make strategic use of digital media (e.g., textual, graphical, audio, visual, and interactive elements) in presentations to enhance understanding of findings, reasoning, and evidence and to add interest.
CCSS.ELA-Literacy.W.11-12.3
Write narratives to develop real or imagined experiences or events using effective technique, well-chosen details, and well-structured event sequences.
Driving Historical Question
How do different market structures play a role in the United States economy?
Anticipatory Set
Students will enter the classroom and prepare to write the daily objectives and vocabulary in their notebooks. Once the bell has rung, students will read along as the teacher explains each. After writing the objectives and vocabulary students will be asked what companies they believe are the largest. This will be conducted as a whole class activity and students will explain why they feel these companies are among the largest in the United States. A PowerPoint discussing market structures and companies that control large portions of market power will follow this activity.
Vocabulary
Students will be introduced to vocabulary prior to actual content delivery. The teacher will define a second time prior to the reading. S/he will also define as the read is in progress. Students will be required to academically use these terms as they both read and write.
- Market Power
- Perfect Competition
- Monopolistic Competition
- Natural Monopoly
- Government Monopoly
- Oligopoly
- Monopoly
- Barriers
- Collusion
- Predatory Pricing
- Conglomerate
Content Delivery
After the students
write the goals and objective for the day’s lesson, the students will focus on
the teacher’s PowerPoint directed lesson.
During this lecture students will take guided notes about market
structures.
Students will participate in the lecture at different points. The first is when the teacher is discussing perfect competition. In this activity, students will all receive one specific type of candy that is identical to one another. They will then try to sell their candy for “money” while at the same time making a profit. The teacher will conduct the activity in such a way that the price will be driven down and students will see that the consumers, not the sellers set the price.
Next, the students will participate in an oligopoly simulation. They will listen and follow along on a handout as the teacher explains the rules. Once students have an understanding of the activity, they will get in groups of three. Finally, students will participate in a round of musical chairs. This will demonstrate a monopoly. It will require three students trying to sit in only one seat. This will demonstrate how hard it is to break into a monopoly and how there is only room for one entity. This will be followed by the remaining part of the lecture and an introduction of a formal assessment before they participate in the closing activity.
Students will participate in the lecture at different points. The first is when the teacher is discussing perfect competition. In this activity, students will all receive one specific type of candy that is identical to one another. They will then try to sell their candy for “money” while at the same time making a profit. The teacher will conduct the activity in such a way that the price will be driven down and students will see that the consumers, not the sellers set the price.
Next, the students will participate in an oligopoly simulation. They will listen and follow along on a handout as the teacher explains the rules. Once students have an understanding of the activity, they will get in groups of three. Finally, students will participate in a round of musical chairs. This will demonstrate a monopoly. It will require three students trying to sit in only one seat. This will demonstrate how hard it is to break into a monopoly and how there is only room for one entity. This will be followed by the remaining part of the lecture and an introduction of a formal assessment before they participate in the closing activity.
Student Engagement
After the students write the goals and objective for the day’s lesson, the students will focus on the teacher’s PowerPoint directed lesson. During this lecture students will take guided notes about market structures.
Students will participate in the lecture at different points. The first is when the teacher is discussing perfect competition. In this activity, students will all receive one specific type of candy that is identical to one another. They will then try to sell their candy for “money” while at the same time making a profit. The teacher will conduct the activity in such a way that the price will be driven down and students will see that the consumers, not the sellers set the price.
Next, the students will participate in an oligopoly simulation. They will listen and follow along on a handout as the teacher explains the rules. Once students have an understanding of the activity, they will get in groups of three. Finally, students will participate in a round of musical chairs. This will demonstrate a monopoly. It will require three students trying to sit in only one seat. This will demonstrate how hard it is to break into a monopoly and how there is only room for one entity. This will be followed by the remaining part of the lecture and an introduction of a formal assessment before they participate in the closing activity.
Students will participate in the lecture at different points. The first is when the teacher is discussing perfect competition. In this activity, students will all receive one specific type of candy that is identical to one another. They will then try to sell their candy for “money” while at the same time making a profit. The teacher will conduct the activity in such a way that the price will be driven down and students will see that the consumers, not the sellers set the price.
Next, the students will participate in an oligopoly simulation. They will listen and follow along on a handout as the teacher explains the rules. Once students have an understanding of the activity, they will get in groups of three. Finally, students will participate in a round of musical chairs. This will demonstrate a monopoly. It will require three students trying to sit in only one seat. This will demonstrate how hard it is to break into a monopoly and how there is only room for one entity. This will be followed by the remaining part of the lecture and an introduction of a formal assessment before they participate in the closing activity.
Lesson Closure
This activity requires students to imagine a world where there are only monopolies and oligopolies. They will be instructed to conduct a Quick Write. This activity will be completed on a blank piece of paper and must be completed individually. They will be given about 7 – minutes to complete this assignment and it will be collected at the end of the period for teacher assessment. This will be a progress monitoring assessment and will not be graded.
Assessment
Students will be assessed multiple times. The first assessment is a formative assessment. This will be conducted after the activity when they attempt to identify name brands. After they do this activity, they will attempt to place them in a market structure without any prior knowledge. This will tell the teacher how much exposure students have had with business structures. The next assessments are used through content discussion. This will be peer-to-peer as well as student-to-class. In this way, the teacher will be able to visit students while walking around the class as well assess the class as a whole. Finally, students will conduct and then turn in a Quick Write. This lesson will follow by a summative assessment that is conducted after subsequent lessons.
Accommodations for Students with Other Needs
This lesson plan accommodates for many different student needs as well as learning styles. During the anticipatory activity students are given the opportunity to collaborate with one another to come to conclusions. This allows struggling students to work with stronger students and allows EL to integrate content vocabulary into their informal academic conversations. Other accommodations include use of visuals, paired notes and PowerPoints, visual representations, and differentiated instruction.
Resources (Books, Websites, Handouts, Materials)
- PowerPoint: “Market Structures”
- Shell: “Market Structures”
- Quick Review: “Market Structures”
- Handout: “Website Instructions”
- Handout: “Website Layout”
- Handout: “Blank Template”
- Handout: “Student Sample”
- Strawberry Jolly Ranchers
- Chocolate
- Desks
- Pen/Pencil
- Paper