Methodological development of an economics lesson on the topic “Demand, supply and market equilibrium”

Economics lesson + presentation + test + game Karl “Demand. Law of Demand"

Lesson topic:
Demand.
Law of demand. Grade 10

Item:

economy

Lesson objectives:

Educational:

• To form an idea of ​​the concept of “demand” and the factors determining it
• To consolidate students’ skills and abilities to apply acquired knowledge in specific situations (working with the computer game “Karl” - modeling a situation of changes in demand)
• Continue work on the formation of a conceptual apparatus: quantity of demand, law of demand, price elasticity of demand, revenue

Educational:

• Develop the ability to draw general conclusions, establish the reasons for changes in demand depending on the factors that form it
• Develop polytechnic skills: the ability to plan your actions, regulate the progress of execution (solving problems, working with the computer game “Karl”)
• Development of theoretical thinking (summarizing and systematizing the information received from the teacher’s story and working with the computer game “Karl”, using it to complete the test)
• Development of creative thinking
• Develop quick decision-making skills

Educational:

promote the formation of activity and independence of students during the lesson.

Necessary equipment:

1. Teacher's computer
2. Student computer: 8 pcs.;
3. Projector: 1 piece;
4. Screen
5. Computer training program “Karl”
6. Presentation on the topic of the lesson
7. Presentation test

During the classes

Teacher's opening speech

:

You and I are consumers. Look: in all newspapers, magazines, radio and television, thousands of companies offer us, consumers, their goods and services. They depend on us: if no one buys their product, they will go bankrupt. Consumers in the market create demand, and sellers form supply.

Without any doubt, the concepts of “demand” and “supply” are key in economic theory, which studies the market system.

The topic of our lesson is “Demand. Law of Demand"

Demand is the quantity of a product that buyers are willing to purchase in a certain period of time in a certain market under given conditions.

Slide 1

Question.

Do you think such concepts as need, requirement, demand are different or not?

Answer.

Need is the need for the consumer to have generalized goods at his disposal: food, clothing, housing, etc.

A need is a need for a very specific product: milk, a dress, a cottage.

Question.

When do our needs become demands?

Answer.

When they are supported by the consumer’s ability to buy a specific product.

Slide 2

The quantity demanded is the quantity of a good that buyers
are willing and able to buy under given conditions.
Slide 4

Question.

What, first of all, determines the volume of purchases, or, as economists say,
the amount of demand ?
Answer.

From the price at which these goods can be purchased?

Slide 5

Information about possible quantities of demand can be presented in the form of a table called demand scale :

If we transfer the data from the table to the coordinate system, we get a graph - a demand curve.

The dependence of demand on price is called the demand function
Qd = f ( P ), and its graph is called the demand curve.
Slide 6

The demand curve shows how the quantity demanded for a good or service changes when the price changes.

A change in the volume (value) of demand means a movement from one point to another of the same demand curve. The reason for a change in the volume of demand is a change in the price of a given good.

Question.

What is the slope of the demand curve?

Answer.

Negative.

Teacher:

As you have probably already noticed, the quantity demanded is inversely related to price: the higher the price of a product, the less quantity you are willing to buy, and vice versa. The lower the price, the more quantity of the product you are willing to buy. This relationship is called the law of demand.

Slide 7

Explain why sales volume increases with a decrease in price?

Students:
express their guesses
Teacher:

Not all goods with a change in price change the quantity demanded equally.
Let's assume that milk and Coca-Cola are sold at the same price and the demand for them is approximately the same. Slide 8
The price has increased 3 times. Do you think people will buy the same amount of goods now?

Students:
express their guesses
Teacher:

The quantities sold of milk and Coca-Cola will be different because they have different
price elasticities.
Price elasticity of demand is a measure of the responsiveness of the quantity demanded for a given good or service caused by a change in the price of that good or service.

When demand for a product is elastic, even small changes in price will cause large changes in demand.

Slide 9

When demand for a product is inelastic, changes in price have relatively little effect on changes in demand.

Slide 10

Teacher:

Now I suggest you trace the action of the law of demand using the computer game “Karl”.

Karl is a young man who decided to start a business; his uncle, a successful entrepreneur, will help him in this. You must make decisions for Carl and set the price for the lemonade he sells. At the same time, we will see how much lemonade will be bought at different prices, what the demand curve will look like at your prices, how much revenue we can receive and what turnover will be achieved. Take a seat at the computers.

Students simulate the situation using the game “Carl”. They watch how the graphs change depending on the data they enter. Transfer the resulting graphs to your notebooks.

Teacher:

We became acquainted with the concepts of demand, quantity of demand, elasticity of demand. We saw the effect of the law of demand. I suggest consolidating the knowledge gained by completing the test on your computers.

(Primary knowledge test with choosing 1 correct answer and checking).

Test.

1. In economics, demand is defined as the number of goods and services that...

   Manufacturers provide at this price;

2. consumers would like to have;
3. buyers want and can have it at a given price;
4. the government bought above the market price.

In conclusion, a discussion of the test results and homework.

Summary of an economics lesson on the topic “Supply and Demand”

Economics lesson plan

Class:

9

Subject:

Supply and demand.

The purpose of the lesson:

Formation of knowledge about supply and demand, the ability to graphically depict the shift in supply and demand.

Tasks:

• Educational:

  To form an understanding of the concepts of “demand” and “supply” and their components.

• Developmental:

  Develop the ability to draw general conclusions, establish the reasons for changes in demand depending on the factors shaping it, and contribute to the development of students’ economic thinking.

• Educational:

  Developing the ability to work in groups and evaluate each other’s answers.

Lesson type:

learning new material.

During the classes.

1. Organizing time

Greetings. Checking students' readiness for the lesson.

1. Repetition of covered material

Select for each concept the corresponding definition (cards - tasks) (see Appendix 1).

Exchange cards with each other. Check your answers. Give your rating: for 10 correct ones - “excellent”, for 8-9 - “good”, for 6-7 - “satisfactory”.

1. And the anger of the new material

In a market economy, products are bought and sold. What determines their prices? This is perhaps the main question that not only sellers and buyers, but also economists of all times have tried to solve.

The shortest answer to it is this: the price is determined by the relationship between supply and demand.

So, the topic of our lesson is “Supply and Demand”.

Demand.

Quantity of demand

is the quantity of a good that buyers are willing to buy at a given price at a certain time and place.

The pattern of changes in the quantity of demand is determined by the demand scale and a graphical representation in the form of a demand curve -
D , where P is the price, Q is the quantity of the product.
R

D

Q

Based on this, we can formulate the law of demand :
The higher the price, the lower the quantity of goods sold.
The rationale for the law of demand can be confirmed by the following phenomena in economics:

1. Price barrier:

   if the price rises, then for some part of the people the product becomes unavailable. The higher the price, the more insurmountable the price barrier becomes. To reduce it, sales are widely practiced.

2. Income effect:

   reducing the price of a product saves part of the buyer's income. In this case, income does not change, and saving money makes it possible to purchase a new product.

3. Substitution effect:

   If one of two interchangeable goods becomes cheaper, then the buyer will give preference to the cheaper product.

4. Giffen effect:

   English economist and statistician Robert Giffen (1837-1910) described a situation where an increase in price leads to an increase in demand. In families with low incomes, expenses for basic food products increase, despite their rise in price.

Demand curve

shows how the quantity demanded for a good or service changes when the price changes. But the quantity demanded may change even if prices remain the same. A shift in the demand curve can occur as a result of:

• Income level of the population.
• Prices for complementary products.
• Prices for goods are substitutes.
• Fashion, tastes and preferences.
• Climatic and seasonal conditions.

Every market has two sides: sellers and buyers.

If for buyers the price determines the amount of demand for a product or service, then for producers it determines the amount of supply.

Offer.

Supply quantity

- this is the quantity of a product that the seller offers for sale at a given price at a certain time and in a certain place.

The pattern of changes in supply is determined by the supply scale and graphical representation in the form of a
supply curve -
S. R

S

Q

Based on this, we can formulate the law of supply

:
The higher the price, the more goods are offered for sale.
Like the demand curve, the supply curve can shift as a result of:

• Prices for resources: raw materials, fuel, electricity.
• Improvement of production technology.
• Prices for goods are substitutes.
• Number of competitors.

The interaction of supply and demand shapes prices in the market. When the supply and demand curves intersect, the equilibrium point is determined.

R

D.S.

E

Q

Equilibrium price

– the price at which the quantity of goods offered by sellers coincides with the quantity of goods that buyers are willing to buy. This price suits the seller and buyer.

At point E - equilibrium quantities of supply and demand coincide

. It is always at the intersection of the supply and demand curves.

If the market price is higher than the equilibrium price, then excess supply occurs (surplus)

is a situation in the market when the volume of supply exceeds the volume of demand for a product.

If the market price is set below the equilibrium price, then unsatisfactory demand (shortage)

- This is a situation when the volume of demand exceeds the volume of supply.

As you have probably already noticed, the quantity demanded is inversely related to price: the higher the price of a product, the less quantity you are willing to buy, and vice versa. The lower the price, the more quantity of the product you are willing to buy. This relationship is called the law of demand.

Explain why sales volume increases with a decrease in price? (Children's answers).

Not all goods with a change in price change the quantity demanded equally. Let's assume that milk and Coca-Cola are sold at the same price and the demand for them is approximately the same.

The price has increased 3 times. Do you think people will buy the same amount of goods now? (Children's answers).

The quantities sold of milk and Coca-Cola will be different because they have different price elasticities.

Price elasticity of demand -

a measure of the response of the quantity of demand for a given good or service caused by a change in the price of that good or service.

When demand for a product is elastic, even small changes in price will cause large changes in demand.

When demand for a product is inelastic, a change in price has relatively little effect on the change in demand.

1. Primary consolidation of knowledge.

We became familiar with the concepts of demand, supply, quantity of demand, elasticity of demand. We saw the effect of the law of demand. I suggest consolidating your acquired knowledge by taking a test.

(Initial knowledge test with choosing 1 correct answer and checking) (see Appendix 2).

1. Homework

Write an essay on the topic: “Making a lot of money is courage, saving it is wisdom, and spending it skillfully is an art.”

(B. Auerbach),

Annex 1.

Enter your answer in the table:

Answers:

Appendix 2.

Test.

1. In economics, demand is defined as the number of goods and services that...

   Manufacturers provide at this price;

2. consumers would like to have;
3. buyers want and can have it at a given price;
4. the government bought above the market price.

Test answers:

1 – in; 2 – b; 3 – in; 4 – g; 5 – a; 6 – g; 7 – in; 8 – a; 9 – b; 10 – a; 11 – a; 12 – b; 13 – in; 14 – in; 15 – g.