Date: FEBRUARY 19 & 20, 2024

Subject: Applied Economics

Grade Level: Grade 12
Objective: Identify a demand curve and a supply curve

Learning across curriculum:

1) Mathematics - The concept of demand and supply curves can be linked to
mathematical functions where the demand curve represents a decreasing function while
the supply curve represents an increasing function. Students can analyze the intersection
point as a solution to a system of equations.
2) History - Understanding how demand and supply have influenced historical events such
as economic crises or market booms can provide insights into the practical applications of
these concepts in real-world scenarios.
3) Environmental Science - Exploring the impact of demand and supply on environmental
resources can highlight the sustainability aspect of economic decisions and market
equilibrium.

Review Motivation:
[Teaching Strategy: Interactive Quizzes]
[Instructional Materials: Whiteboard, Markers]
1) Conduct a quick quiz on basic economic concepts related to demand and supply.
2) Engage students in a group discussion on how changes in demand and supply affect
market prices.
3) Organize a role-playing activity where students act as buyers and sellers to simulate
market interactions.

Activity 1: Exploring Demand Curve

[Teaching Strategy: Cooperative Learning]
Materials - Graph paper, Markers
Significance - Understanding the concept of demand curve and its graphical
representation.
Instructions -
1) Draw a demand curve on the graph paper.
2) Label the axes and key points on the curve.
3) Discuss the factors that can shift the demand curve.
Rubric - Accuracy (20 pts), Labeling (10 pts), Participation (10 pts)
Assessment Questions:
1. What happens to the demand curve when there is an increase in consumer income?
2. Explain the relationship between price and quantity demanded on the demand curve.
3. How does a change in consumer preferences impact the demand curve?
Activity 2: Analyzing Supply Curve
[Teaching Strategy: Problem-Based Learning]
Materials - Supply curve data, Calculators
Significance - Examining the supply curve and its implications on market equilibrium.
Instructions -
1) Analyze the given supply curve data and plot it on a graph.
2) Identify the equilibrium point where demand equals supply.
3) Discuss how changes in production costs can affect the supply curve.
Rubric - Data Analysis (20 pts), Interpretation (15 pts), Presentation (10 pts)
Assessment Questions:
1. How does technological advancement influence the position of the supply curve?
2. Describe the concept of surplus and shortage in relation to the supply curve.
3. What are the factors that can lead to a shift in the supply curve?

Activity 3: Market Equilibrium Simulation

[Teaching Strategy: Role-Playing]
Materials - Price tags, Goods for simulation
Significance - Demonstrating how demand and supply interact to determine market prices.
Instructions -
1) Assign students roles as buyers and sellers in a simulated market.
2) Negotiate prices based on demand and supply conditions.
3) Analyze the outcome to understand market equilibrium.
Rubric - Participation (20 pts), Negotiation Skills (15 pts), Understanding of Equilibrium (10
pts)
Assessment Questions:
1. How does a change in production costs affect market equilibrium?
2. Explain the role of competition in maintaining market equilibrium.
3. What are the consequences of a price floor or price ceiling on market equilibrium?

ANALYSIS:
Activity 1 - Students demonstrated a clear understanding of the demand curve and its
determinants, showing accuracy in graphing and explaining shifts.
Activity 2 - Students effectively analyzed supply curve data and grasped the concept of
market equilibrium, showcasing their ability to interpret economic trends.
Activity 3 - Through role-playing, students actively engaged in market simulations,
applying their knowledge of demand and supply to real-world scenarios.

ABSTRACTION:
Identifying demand and supply curves provides a foundational understanding of market
dynamics, allowing students to predict price changes and market outcomes. Further
exploration of economic principles can deepen students' grasp of market behavior and
decision-making processes.

Supporting Material 1 - "Principles of Economics" by N. Gregory Mankiw

Supporting Material 2 - "Freakonomics: A Rogue Economist Explores the Hidden Side
of Everything" by Steven D. Levitt

APPLICATION:
[Teaching Strategy: Experiential Learning]
Task 1 - Analyze a local market scenario and identify the demand and supply factors
influencing price fluctuations.
Task 2 - Conduct a survey on consumer preferences and production costs to create
demand and supply curves for a hypothetical product.

ASSESSMENT:
[Teaching Strategy: Differentiation]
[Instructional Materials: Assessment sheets]
Question 1 - How does elasticity of demand affect the shape of the demand curve?
Question 2 - Compare and contrast the determinants of demand and supply curves.
Question 3 - Explain the concept of market equilibrium and its significance in economic
analysis.
H.O.T.S.:
Question 1 - Why is it essential for policymakers to consider both demand and
supply factors when implementing economic policies? (Answer: Policymakers need to
balance the interests of consumers and to achieve market efficiency and stability.)
Question 2 - Discuss the role of government intervention in regulating market prices
based on demand and supply dynamics. (Answer: Government interventions can
influence market equilibrium through price controls or subsidies to address market
failures.)
Question 3 - Evaluate the impact of a sudden increase in demand on a market with
limited supply, considering the implications for pricing and allocation of resources.
(Answer: The imbalance between demand and supply can lead to shortages, price hikes,
and potential market distortions.)

Assignment:
1) Assignment Overview: Research and analyze a current market trend, identifying the
demand and supply factors influencing its trajectory.
Assessment Question: Describe the impact of changing consumer preferences on market
equilibrium, providing real-world examples to support your analysis.
2) Assignment Overview: Create a visual representation of a demand-supply scenario in a
local industry, highlighting the key determinants affecting price stability.
Assessment Question: Explain how technological advancements can disrupt traditional
supply chains and alter market dynamics, citing specific instances of innovation in the
industry.

Prepared by: LEONARDO G. DE LA CUZ II