Honors Class - Lesson Plan Pd. 1: Monday 02-25-08 Pds. 2 and 4: Tuesday 02-26-08 Agenda: Review and score the Chapter 2 TEST (10 minutes) a. What? You didn’t take the test?… then leave for ten mins. b. Makeup test given during tutorial or afterschool today only. 2. Aggressive lesson plan for CA Standard 12.2.1 -Chapter 4 : DEMAND (3 sections) -3 section assessments as homework due Th. 02-28-08 -Ch 4.1 and 4.2 class discussions today. -Ch 4.3: No discussion or class activity 3. Chapter 4 Test: Th. for Pd 1. Fr. for Pds. 2 and 4 Next Slide: Lesson 1 details

Lesson 1: Chapter 4-DEMAND CA Content Standard – 12.2 Students analyze the elements of America’s market economy in a global setting. 12.2.1 Understand the relationship of the concept of incentives to the law of supply and the relationship of the concept of incentives and substitutes to the law of demand Lesson 1: Chapter 4-DEMAND Objectives: 1. Explain the law of demand. 2. Describe the difference between demand and quantity demanded. 3. Provide examples of the law of diminishing marginal utility. 4. Create demand curves from given demand schedules

Lesson 1: Chapter 4-DEMAND CA Content Standard – 12.2 Students analyze the elements of America’s market economy in a global setting. 12.2.1 Understand the relationship of the concept of incentives to the law of supply and the relationship of the concept of incentives and substitutes to the law of demand Lesson 1: Chapter 4-DEMAND Section 4.1 Understanding Demand (pgs. 90-94) a. Activating Prior Knowledge: Individual Work 5 mins. Describe a situation in your experience where the price of a good/service increased and your own demand for that good/service decreased, or vice versa.

Lesson 1: Chapter 4-DEMAND CA Content Standard – 12.2 Students analyze the elements of America’s market economy in a global setting. 12.2.1 Understand the relationship of the concept of incentives to the law of supply and the relationship of the concept of incentives and substitutes to the law of demand Lesson 1: Chapter 4-DEMAND Section 4.1 Understanding Demand (pgs. 90-94) Thinking Like an Economist: Class Discussion 20 mins Do you buy the most expensive items available when you can afford them, or do you look for the best deals even though you can afford the most expensive ones. Provide detailed explanations. Each person in the group writes a summary essay highlighting their responses.

Lesson 1: Chapter 4-DEMAND CA Content Standard – 12.2 Students analyze the elements of America’s market economy in a global setting. 12.2.1 Understand the relationship of the concept of incentives to the law of supply and the relationship of the concept of incentives and substitutes to the law of demand Lesson 1: Chapter 4-DEMAND Section 4.1 Understanding Demand (pgs. 90-94) c. Economics in the Real World: Collaborative Group 15 mins. pg. 92. Are the Prices at Disneyland Goofy? Read the story details and respond to the prompt entitled “Think About It”

Lesson 2: Chapter 4-DEMAND CA Content Standard – 12.2 Students analyze the elements of America’s market economy in a global setting. 12.2.1 Understand the relationship of the concept of incentives to the law of supply and the relationship of the concept of incentives and substitutes to the law of demand Lesson 2: Chapter 4-DEMAND Section 4.2 The Demand Curve Shifts (pgs. 95-99) Objectives 1. Explain why a demand curve shifts to the left or right. 2. Distinguish between normal, inferior, and neutral goods. 3. List the factors that cause a change in demand. 4. Identify the factor that causes a change in quantity demanded.

Lesson 2: Chapter 4-DEMAND CA Content Standard – 12.2 Students analyze the elements of America’s market economy in a global setting. 12.2.1 Understand the relationship of the concept of incentives to the law of supply and the relationship of the concept of incentives and substitutes to the law of demand Lesson 2: Chapter 4-DEMAND Section 4.2 The Demand Curve Shifts (pgs. 95-99) 1. Activating Prior Knowledge: Individual Work Examine the graph on page 93: Exhibit 4-1 Demand Schedule and Demand Curve. Write a description of what it is saying.

Lesson 2: Chapter 4-DEMAND CA Content Standard – 12.2 Students analyze the elements of America’s market economy in a global setting. 12.2.1 Understand the relationship of the concept of incentives to the law of supply and the relationship of the concept of incentives and substitutes to the law of demand Lesson 2: Chapter 4-DEMAND Section 4.2 The Demand Curve Shifts (pgs. 95-99) 2. Thinking Like an Economist: Collaborative Group Discussion Identify and discuss some of the most popular holiday gifts from last year. -What are some of the reasons that the demand for these items was so high last year? - Do you think the demand will be as high again this year? Why or Why Not? Each person in the group writes a summary essay highlighting their responses.

Lesson 2: Chapter 4-DEMAND CA Content Standard – 12.2 Students analyze the elements of America’s market economy in a global setting. 12.2.1 Understand the relationship of the concept of incentives to the law of supply and the relationship of the concept of incentives and substitutes to the law of demand Lesson 2: Chapter 4-DEMAND Section 4.2 The Demand Curve Shifts (pgs. 95-99) 3.Economics in the Real World: Collaborative Group pg. 98. – New Coke, Classic Coke, or Pepsi Read the story details and respond to the prompt entitled “Think About It”