ClevelandA_KAFinal

Part 1: Identification of Learning Problem

Target Audience

The general audience is composed of students at Apalachee High School (AHS) that take or have taken a non-advanced placement - Economics/Business/Free Enterprise course. These students are typically in 11th or 12th grade, whose ages range from 16-20 years old. The number of students in my three Economics classes are 88. The students in my Economics classes are representative of the overall population of Apalachee High School. The most recent data available for the demographics of AHS is from 2011 and is located in the table below. :

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Problem Identification and Analysis

Economics/Business/ Free Enterprise is a course that comprises of five domains that are assessed by the state of Georgia using an End-of-Course-Test (EOCT). This EOCT is administered at the end of courses that mandate an EOCT, such as Economics, and are used a tool for assessment of content knowledge based on state issued standards in five domains.2

1 http://www.barrow.k12.ga.us/sacs/Apalachee_HighData.pdf2 https://www.georgiastandards.org/standards/Georgia%20Performance%20Standards/Economics.pdf

Apalachee High School Economics EOCT scores demonstrate a problem based on student performance on the EOCT in comparison with schools of similar demographics. Data establishes a difference between AHS and a school of similar demographics within the county – Winder-Barrow High School (WBHS). A comparative needs analysis was conducted between AHS and WBHS and showed that AHS had weaker total percentage meeting/exceeding expectations, percentage exceeding, and average-scale score for the most recent school year (2012-2013). Data are located on the following page:

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A goals analysis further demonstrates that the performance of AHS is not linked to the needs of the overall district in relation to aim and goals set by the Barrow County School System for the 2013-2014 school year. The goal of the district is to have meet/exceed rate of AHS students on the Economics EOCT to be 86.5%.4 As evident by the most current data, students are not meeting that goal.

Students lack knowledge, specifically in Microeconomics, prior to taking the Economics EOCT is the main reason for reduced student achievement and overall scores. Among the five domains, students are statistically the weakest in Microeconomics. This is based on the evidence of student performance data listed below (n=77):

● Fundamental – 75% of questions answered correctly● Microeconomics – 65% of questions answered correctly● Macroeconomics – 69% of questions answered correctly● International – 72% of questions answered correctly● Personal Finance – 76% of questions answered correctly

To improve student achievement in this domain, instructional and student goals are developed to address learner’s lack of knowledge.

3 http://www.barrow.k12.ga.us/Testing/EOCT_Results2013.pdf4 http://www.barrow.k12.ga.us/ahs/Compact_2013-14_Draft.pdf

Instructional Goals

Teacher● To improve student achievement on the Microeconomics section of the Economics/Business/Free Enterprise (EOCT)● To meet the goals set by the Barrow County School System● To develop a universally designed instruction that incorporates the needs of the various learners of Apalachee High School.● To develop instruction using the internet to provide a variety of resources and assessments to learners in Economics.

Student● Student will identify the Circular Flow Model● Students will analyze the flow of resources in the Circular Flow Model● Students will explain the flow of money in the Circular Flow Model● Students will identify the characteristics of business organizations● Students will explain the Law of Supply● Students will explain the Law of Demand● Student will graphical depict changes in prices and quantity● Student will define price elasticity● Students will analyze the effects of price floors ● Students will analyze the effects of price ceilings● Students will correctly identify the characteristics of market structures.

KA Part II – Learner Analysis

The targeted audience is all 11th or 12th grade students at Apalachee High School in Winder, GA in non-Advanced Placement Economics. The typical age range of these students is 16-20. The most current demographic data, which is for the all grades of the high school serves as a reflection of the students in Economics courses is located in the table below. Information regarding

demographic information was collected from a Barrow County School System website. Other relevant data was collected using surveys, Statewide Longitudinal Data System (SLDS), and sample sizes of active Economics classes for the spring of 2014. Instructional Team Leaders (ILT) of the Social Studies department, teachers, and administrative staff were consulted about information that could not be found or given from public resources.

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*Table C from 2012-2013 School Year

Entry Skills and Prior Knowledge

● To be in an Economics course at Apalachee High School, a student must have completed or be currently taking: World History, U.S. History, and Government courses.

● Conduct internet searches computers, tablets, phones, or other electronic devices. ● Demonstrate computer literacies such as typing skills and use of an operating system.● Practice with Microsoft Word, Microsoft PowerPoint, and Microsoft Publisher● Use of Youtube.com for videos.

Attitudes toward Content

A survey was given to a sample of students (N=73) taking Economics at Apalachee High School in the spring semester of 2014. The survey consisted of 16 statements in which the students were to rate on a scale of 1 = strongly disagree to 5 = strongly agree. Of the 16 statements, five were directed toward content of both computers a subject area. Those five statements were:

_____ If it was possible, I would take a class online for Economics to earn credit. Average response rating: 3.78

_____ I have a basic understanding of how to use a computer and basic programs like Microsoft word.Average response rating: 4.86

_____ I felt going into my Economics class, I had a strong understanding of the subject.Average response rating: 3.78

_____ I have had success in other social studies courses at Apalachee High School. Average response rating: 3.16

_____ I am comfortable with the material I have learned thus far in my Economics class.Average response rating: 4.16

The first two questions are related to computer skills. The first question asked the participants to if they were willing to take a class online for Economics if it was available to them. This demonstrated comfort ability and motivation in the use of computers because a student that has interest in taking a class online would also appear to have a strong correlation with computer use. A significant number of students stated they had a basic understanding of the use of computers and programs associated with them as demonstrated in the chart below.

Students attitudes toward content prior to entering the course was difficult to measure because the students were already taking the course at the time of the survey, which could effect their answers. With that recognized, the students appeared to feel comfortable before entering the course and they were not overwhelmed by the content they had been instructed on so far. Overall their attitude toward Economics content appeared to be slightly less positive than their prior experiences in Social Studies.

Academic Motivation

Three questions in the survey were related to student motivation. The participants appeared to have a positive view of themselves in terms of their individual motivation. According to the survey, students answered that they have a stronger work ethic than most students in their classes and for the most part, don’t do enough “just to get by.”

_____ I work harder than most other students.Average Response: 3.38

_____ I do enough work just to get by. Average Response: 2.67

_____ Most other students are apathetic (don’t care) about school. Average Response: 3.53

Attitude toward Teacher and School

Four survey questions were related to the attitude of the participant toward teacher and school. Students in the survey demonstrated a strong likeness for their teachers. This corresponded to the participants’ positive reflection on the teachers’ attitudes toward them as well as Economics content. Overall, the students demonstrated a fondness toward school. This appears to correlate with their experiences in the Economics course they were currently taking as well.

____ My teachers seem to care about me as a person.Average Response: 3.66

____ My teachers seem to enjoy teaching.Average Response: 4

_____ I want my teachers to be pleased with me. Average Response: 4.05

_____ for the most part, school has been a pleasurable experience for me.Average Response: 3.37

General Learning Preferences

Three questions on the survey were related to learner preferences. According to the survey, students appeared to be “undecided” as to the creativity allowed for by school. Overall, this was one of the lower scored values from the survey, which demonstrates the students’ lack of creativity in their educational experience. As a result, participants in the survey revealed that school was a boring experience, which may be related to the lack of creativity students felt. Responses varied, but typical showed a preference towards a “hands-on” learning preference. The questions in the survey that are related to general learning preferences are as follows:

Please list a learning preference of yours. For instance, if you like to learn through reading text, list that.

Other learning preferences included: Video, audio/mp3, hands-on, speaking/ discussion.

_____ School is boring.Average Response: 3.50

_____ School encourages me to be creative. Average Response: 3.06

Educational Ability Levels

State Longitudinal Data was used to research previous EOCT scores in Social Studies as well as Lexile scores, which indicate reading skills level. (N= 51)

● Average EOCT score in U.S. History: 78● Lexile Score Range:

o < 1210 = 25 Studentso 1210-1360 = 23 Studentso > 1360 = 3

The scores for U.S. history reveal that overall, the sample of students currently in Economics that took an EOCT in U.S. History scored in a range determined by the state to “Meet Expectations.” (Scale Score of 70-89). Out of the 51 students there were 21 that did not meet expectations on the U.S. History EOCT. Further analysis indicated that out of those 21 students that did not meet expectations on the EOCT, 19 of them had low Lexile scores (<1210). This demonstrates students that did not do well on the EOCT may not have understood what they were reading or how to read. This designates a possible need for alternative forms of communication of material.

KA Part III

Task Analysis

I conducted task analysis by using a topic and analysis. A topic analysis was done because of the student expectations set forth by the state of Georgia education standards regarding this economics content is structured in a way that the students need to recall or apply – facts, concepts, and principles.

I created a detailed task analysis for the domain of Microeconomics. In this outline I used my knowledge of the material as well as standards – or student performance objectives – that the state of Georgia has for students taking non-AP Economics courses for grades 9-12. The standards and expectations listed on the Georgia Department of Education owned website, georgiastandards.org, acted as a guide for the topic analysis as to what material is to be covered in the Microeconomics Unit. This material is what students in Economics courses will be assessed on for the End-Of-Course-Test (EOCT).

The topic analysis provides all relevant information essential for the microeconomics unit and the following task analysis provides it in organized way in which one topic carries over directly and indirectly to another topic.

Task Analysis Outline

1. The role of households and businesses in the economy

1.1 Study of individual businesses and households within a single market

1.1.1 Businesses are also described commonly as firms

1.1.1.1 Suppliers or finished goods and services

1.1.2 Households are sometimes referred to as consumers

2. The Circular Flow of Economic Activity

2.1 Relationship between goods and services in a single market

2.1.1 Goods are finished products

2.1.2 Services are tangible and non-tangible skills

2.2 Households

2.2.1 Individuals or a particular unit such as a family

2.3 Businesses/ Firms

2.4 Product Market

2.4.1 Place where final goods and services are sold (I.E. – Walmart)

2.5 Factor Market / Resource Market

2.5.1 Physical and non-physical place in which land, labor, and capital resources are exchanged between businesses and

household

2.5.1.1 Land

4.5.1.1.1 Natural resources

2.5.2.1 Labor

4.5.2.1.1 Knowledge and skills used in good or service

2.5.3.1 Capital

4.5.3.1.1 Human knowledge or physical skills used in good or service

2.6 Flow of Money

2.6.1 Medium of exchange used to facilitate transactions amongst households, product market, businesses, and factor

market

2.7 Flow of Resources

2.7.1 Land, labor, and capital used to make goods and services

3. Supply and Demand in the Market Economy

3.1 Supply

3.1.1 Quantity of goods and services that someone is willing to supply at different prices.

3.2 Supply schedule

3.2.1 Table that shows the different prices that suppliers are willing to produce certain quantities of a given product.

3.2 Law of Supply

3.2.1 Direct relationship between prices and the quantities supplied

3.2.2 When businesses can make more money, they will produce more of a good

3.3 Demand

3.3.1 When prices goes down, consumers typically want to buy more of a particular product.

3.4 Law of Demand

3.4.1 Inverse relationship between price and the quantity demanded of a given product.

3.5 Equilibrium Price

3.5.1 Price at which supply and demand of a good/service are equal

3.6 Equilibrium Quantity

3.6.1 Quantity at which supply and demand of a good/service are equal

4. Markets and Prices for Individual Households and Businesses

4.1 Factors Affecting Price Determination

4.1.1 Cost of resources

4.2.1 Changes in technology

4.3.1 Change in the price of related goods

6.4.1 Change in price of a substitute good

6.4.1.1 Good that can be used in place of another good

4.5.1 Change in the price of complementary goods

4.5.1.1 Good that is used with another good

4.6.1 Change in income

4.7.1 Change in preferences

4.8.1 Price floor

4.8.1.1 Minimum price at which a product can be sold

4.8.1.2 Set above the equilibrium price and quantity

4.8.1.2 Creates surpluses

4.8.1.2.1 Supply is greater than demand

4.9.1 Price ceiling

4.9.1.1 Maximum price at which a product can be sold

4.9.1.2 Set above equilibrium price and quantity

4.9.1.3 Creates shortages

4.9.1.3.1 Demand is greater than supply

4.2 Price Elasticity and Inelasticity

4.2.1 Price elasticity is sensitivity to price change

4.3.1 Price inelasticity is when price changes do not have effect on demand

5. Types of Business Organizations in a Microeconomic Structure

5.1 Sole proprietorship

5.1.1 Individual or family owned business

5.1.2 Unlimited liability

5.1.2.1 Owner has all risks associated with business

5.2 Partnership

5.2.1 Two or more owners

5.2.2 Silent Partner

5.2.2.1 Put up money and expect return on investment

5.2.3 Minority partner

5.2.3.1 Does not have majority investment/responsibility in business

5.3 Corporation

5.3.1 Raise large amounts of capital through the issue of stock

7.3.1.1 Stocks are shares of individual ownership of corporation

5.3.2 Limited liability

5.3.2.1 Risk is shared amongst investors

5.3.2.2 Not financially responsible for corporate debt or bankruptcy

5.3.3 Dividends

5.3.3.1 Monetary compensation for ownership in company

6. Market Structures Characteristics in a Market Economy

6.1 Monopoly

6.1.1 One business controls a market

6.1.1.1 Price Maker

6.1.1.1.2 No competition and sets prices as result

6.1.2 Natural Monopoly

6.1.2.1 Utilities such as electric and water regulated by state governments

6.2 Perfect (Pure) Competition

6.2.1 Unlimited number of firms

6.2.2 Unlimited competition

6.2.3 No barriers to entry into market

6.2.4 Single good or service that is vertically identical to others sold in market

6.3 Monopolistic Competition

6.3.1 Large number of firms

6.3.2 Low barriers to entry

6.3.3 Products are similar but not exactly the same. McDonald’s burgers vs. Five Guy’s burgers.

6.3.4 Business engage in product differentiation, advertising, to gain customers

6.4 Oligopoly

6.4.1 Few firms dominate marketplace, between 2-12 businesses.

6.4.2 High barriers to entry

6.4.3 Products vary

Subject Matter Expert (SME)

I, Aaron T. Cleveland, will perform the functions as SME for this instructional design. My formal education includes an associate’s degree in Communication and Media Arts from Genesee Community College (Batavia, N.Y.). I have also received a bachelor’s of science in Social Studies Education from the University of Georgia (Athens, GA). Currently, I am in the process of acquiring a master’s degree from Georgia Southern University (Statesboro, GA) in the field of Instructional Technology.

My qualifications include certification by the Georgia Professional Standards Commission to teach the subject of Economics in grades 6-12 (Certification number 940932). This certification is valid through the 2014-2015 school year pending renewal after that period of time. I have four years of experience in teaching the subject of Economics at Apalachee High School. I am also in charge of remediation of students taking Economics at my school.

Key Assessment Part IV

Terminal Objective 1: To analyze how households, businesses, and the government are inter-reliant and interact through the flow of

goods, services, and money.

Enabling Objectives:

1A: Student will identify the different part of the Circular Flow Model.

1B: Student will label different parts of the Circular Flow Model.

1C: Student will explain the flow of resources in the Circular Flow Model.

1D: Student will explain the flow of money in the Circular Flow Model.

Terminal Objective 2: To define the Law of Demand, Law of Supply, and how these laws determine prices and production in a

market economy.


2A: Define Law of Supply

2B: Define the Law of Demand

2C: Describe the role of buyers and sellers in determining prices.

2D: Student will identify factors that change supply and demand.

2E: Student will graphically depict changes in supply and demand.

Terminal Objective 3: To determine how markets, prices, and competition influence economic behavior.


3A: Student will identify factors that cause a change in market supply and demand.

3B: Student will illustrate graphically factors that cause a change in supply and demand.

3C: Define price elasticity.

3D: Student will determine elasticity of change in supply or demand.

3E: Student will identify price ceilings.

3F: Student will identify price floors.

3G: Student will graphically depict price floors and price ceilings.

3H: Define surplus.

3I: Define shortage.

Terminal Objective 4: Explain the organization and role of businesses in a market economy

Enabling Objective:

4A: Identify the different types of business organizations.

4B: Compare the different types of business organizations

4C: Student will differentiate between different business organizations.

Terminal Objective 5: Analyze the four types of market structures in a market economy.


5A: To identify the basic characteristics of monopoly, oligopoly, monopolistic competition, and monopoly.

Classification of Instructional Objectives:

Content Performance

Recall Application

Fact 1B, 4A, 2A, 2B, 3A, 1A, 4B, 4C, 2C, 3B,

3C, 3H, 3I, 5A 3E, 3F, 3G

Concept 3D

Principles

Procedure

Interpersonal

Attitude

Relationship between Instructional Objectives and Standards:

Instructional Objectives Georgia Performance Standards

1A, 1B SSEMI 1a. Illustrate by means of a circular flow diagram, the Product market; the Resource (factor) market; the real flow of goods and services between and among businesses, households, and government; and the flow of money.

1C SSEMI 1b. Explain the role of money as a medium of exchange.

2A, 2B SSEMI 2a. Define the Law of Supply and Demand

2C SSEMI 2b. Describe the roles of buyers and sellers in determining market clearing price.

2D SSEMI 2c. Illustrate on a graph how supply and demand determine price and quantity.

2E SSEMI 2d. Explain how prices serve as incentives in the

marketplace.

3A, 3B SSEMI 3a. Identify and illustrate on a graph factors that cause changes in market supply and demand.

3C, 3D, 3E SSEMI 3b. Explain and illustrate on a graph how price floors create surpluses and price ceilings create shortages.

3F SSEMI 3c. Define price elasticity of demand and supply.

4A SSEMI 4a. Compare and contrast three forms of business organization — sole proprietorship, partnership, and corporation.

4B SSEMI 4b. Explain the role of profit as an incentive for entrepreneurs

4C SSEMI 4c. Identify the basic characteristics of monopoly, oligopoly, monopolistic competition, and pure competition.

KA Part V

Instructional Strategies Goals Objectives UDL Assessments

Lesson 1: Web-based video about Circular Flow Model. Students will answer the lesson by picking out a finished product/ good and using a Web. 2.0 tool such as SlideShare, Prezi, and Picsviewer to complete a Circular Flow Model diagram.

● Identify the different parts of the Circular Flow Model.

● Label the different parts of the Circular Flow Model.

● Explain the flow of resources in the Circular Flow Model.

● Explain the flow of money in the Circular Flow Model.

Objective 1: After completing this lesson, students will correctly analyze the Circular Flow Diagram.

Objective 1A: The student will correctly illustrate the flow of money between and resources between major actors in the economy; businesses, households, and the government; using the Product and Factor Markets.

Objective 1B: The student will identify flow of money between and resources between major actors in the economy; businesses, households, and the government; using the Product and Factor Markets.

Principle One. When given multiple means of representation,

learners are given “various ways of acquiring information

and knowledge”

● Initial Presentation offers alternatives (text equivalent of video lesson) in auditory and visual information (images of the Circular Flow Diagram).

Principle Two. When learners are

given multiple means of expression, they are provided with “alternatives for

demonstrating what they know”

Quiz #1

Multiple Choice

● For identification for different parts of the Circular Flow Model

Matching

● For labeling the different parts of the Circular Flow Diagram, students will match different parts of the Circular Flow Model (labeled #1- #8) to a list.

Short Answer

● One short answer response pertaining to parts of the Circular Flow model

Quiz #2

● Learners have the abilities to use multiple tools (Web 2.0 and Microsoft Publisher) to construct and compose their responses to the generative strategy within the instructional goal.

● Students will have ability to demonstrate knowledge in different ways on assessment.

Short Answer

● Given a certain good, student will identify its movement in terms of the flow of resources in the Circular Flow Model.

● Using the same good, students will explain the flow of money in the Circular Flow Model.

● Within the short answer, students will be provided with a list of terms to use in the explanation.

Lesson 2: PowerPoint narrative detailing the different types of organizations. Learner will answer the lesson by completing a self-generated list of each type of businesses organization or; Complete a drill and practice routine using knowledge of correct-response feedback until learners answer accurately 80% of the questions or; Students are given a list of examples of businesses organizations and argue for each example what business organization it is.

❖ Identify the different types of business organizations.

❖ Compare the different business organizations.

❖ Differentiates between different business organizations.

Objective 4: Students will identify the different types of businesses that makes goods and services within the Circular Flow Model.

Objective 4A: Student will correctly identify the different types of business organizations.

Objective 4B: Student will compare sole proprietorship, partnership, corporation, and franchise.

Principle One. When given multiple means of representation:

● Initial Presentation offers alternatives (text equivalent of video lesson), ability to listen to video lesson (mp3 type file) auditory and visual information for examples of business organizations from PDF files of local newspaper clippings.

● Initial Presentation offers links for further information and other

All students must complete multiple choice section:

Multiple Choice:

● Knowledge, comprehension, application, analysis type questions.

Students have to choose one of the three extension assessments:

Written Response

Objective 4C: Student will differentiate sole proprietorship, partnership, corporation, and franchise.

available sources to learn information on the material in the lesson.


given multiple means of expression:

● Students will have option of completing one of the three different types of generative strategies to demonstrate knowledge.


● Explanation of the positive and negative features associated with the different types of business organizations. Students will submit response on quiz form.

Recorded Response:

● Oral response to the positives and negative features of each kind of business organization.

Case Study:

● Students have the choice to start-up a business organization. They are to choose one of the three, explaining why they chose it. They also need to explain why they didn’t choose the other two. Students will submit response on quiz form.

Lesson 3: Learners asked to speculate different prices of tickets for different days followed by web-based video explaining Laws of Supply and Demand. Students will answer lesson by completing a series of “if” “then” statements incorporating Law of Supply and Demand

❖ Defines Law of Supply and Law of Demand.

❖ Identifies examples Law of Supply and Law of Demand.

Objective 2: Students will correctly determine how businesses and households are impacted by the Law of Supply and Law of Demand.

Objective 2A: Define Law of Supply.

Principle One. When given multiple means of representation.

● Initial Presentation offers alternatives (text equivalent of video lesson), ability to listen to video lesson (mp3



Students have to choose one

or, students will write 5 “if” “then” statements or their own which incorporate the Law of Supply and the Law of Demand.

Objective 2B: Define the Law of Demand.

Objective 2C: Students will determine whether supply or demand is effected in a variety of scenarios.

type file) auditory and visual information for Law of Supply and Law of Demand.

● Initial Presentation offers links for further information and other available sources to learn information on the material in the lesson.

Principle Two. When learners are given multiple means of expression.

● Students will have option of completing one of the two different types of generative strategies to demonstrate knowledge.


of the three extension assessments:

Written Response:

● Students will give short answer response to a series of supply and demand shifting questions.

Graphic Organizer:

● Students will create a graphic organizer depicting the Law of Supply and the Law of Demand using Web 2.0 tool or Microsoft Publisher.

Shifts in Supply and Demand Identifier:

● Students will be given a series of questions asking whether there was a shift in supply or demand. Students will submit response in quiz form.

Lesson 4: Tutorial presenting factors that change supply and demand as well as graphical depictions. Students will answer why gas prices fluctuate by using at least two factors that change supply and two factors that change demand; using word document, audio recording, or multi-media presentation tool (Web 2.0).

❖ Identifies the factors that change supply

❖ Identify the factors that change demand

❖ Graphically depict changes in supply

❖ Graphically depict the changes in Demand

Objective 3: Students will determine graphically, how changes in supply and demand effect price and quantity of a good/product. [Principle and Application]

Objective 3A: Student will correctly identify factors that cause a change in market supply and demand.

Objective 3B: Student will illustrate graphically factors that cause a change in supply and demand.


● Initial Presentation offers alternatives (text equivalent of video lesson), ability to listen to video lesson (mp3 type file) auditory and visual information for factors effecting supply and demand.



● Students will have option of completing the instructional lesson by using multiple forms of expression.

● Students will have ability to demonstrate knowledge in different




Written Response:

Students will be given 3 scenarios and will be required to identify

● Change in supply or demand?

● What factor changed the supply or demand?

● What happened to the price and quantity?

Recorded Response:

Students will be given 3 scenarios and orally will need to identify:




ways on assessment. Factors Changing Supply and Demand Identifier Quiz:

● Using the same examples from the identifier examples in Lesson 3, students will be given a chart and need to correctly identify what factor caused a change in demand and change in supply.

Lesson 5: Learners speculate on their buying habits followed by a web based video defining and detailing price elasticity. Student will answer lesson by identifying examples of price elasticity and inelasticity through either answering 80% of questions correctly in a drill and practice routine or, using word document, audio file, video, or any Web-based 2.0 tool – argue for each example (in a set of 5) whether the example is one of elasticity or inelasticity.

❖ Correctly identifies instances of elasticity and inelasticity.

Objective 3: Determine what price changes do to the elasticity of buyers and sellers.

Objective 3C: Define price elasticity.

Objective 3D: Student will determine elasticity of a change in supply or demand.



and knowledge”

● Initial Presentation offers alternatives (text equivalent of video lesson), ability to listen to video lesson (mp3 type file) auditory and visual information for definitions and examples of price elasticity.




Written Response:

● Students will provide two personal examples in which they have been affected by elasticity. Then, students will explain two goods or services that are personally inelastic to them.

Recorded Response:

● Students will provide two personal examples in which they have been affected by elasticity. Then, students will explain two goods or services that are personally inelastic to them.

given multiple means of expression



Graphic Organizer:

● Student will create a graphic organizer demonstrating the difference between inelasticity and elasticity. Students are recommended to use a Web 2.0 tool or Microsoft publisher.

Lesson 6: Learner speculation on raising minimum wage followed by web-based video instruction about price floors and price ceilings. Students will answer the lesson by completing one of the following tasks – 1) Create a chart of list that includes examples of price floors and price ceilings, 2) Complete a drill and practice routine using knowledge of correct-response feedback until learners answer accurately 80% of the questions, 3) Students are given a list of examples and are to determine which are or are not price floors/ceilings and

❖ Identifies price floors and price ceiling

❖ Analyzes the effects of price floors and price ceilings.

Objective 3: Student will identify government imposed price floors and price ceilings.

Objective 3E: Identify price floors.

Objective 3F: Identify price ceilings.

Objective 3G: Student will graphically depict price floors and prices ceilings.



and knowledge”

● Initial Presentation offers alternatives (text equivalent of video lesson), ability to listen to video lesson (mp3 type file) auditory and visual information for definitions and examples of price floors and ceilings – as well as their effects.

● Initial Presentation


• Knowledge, comprehension, application, analysis type questions.


Written Response:

Students will find two sources that explain the positives and negatives of rent control. They must identify two positives and two negatives of rent control. Then, students must make a

argue why. Objective 3H: Define surplus correctly.

Objective 3I: Define shortage correctly.

offers links for further information and other available sources to learn information on the material in the lesson.





brief argument for or against rent control. Sources must be cited in APA style format.

Recorded Response:

Students will find two sources that explain the positives and negatives of rent control. They must identify two positives and two negatives of rent control. Then, students must make a brief argument for or against rent control. Sources must be cited in APA and submitted separately.

Article Response:

● Students will give short answers to a series of questions related to an article about raising the minimum wage. They will then be asked whether they would or would not support raising it.

Lesson 7: Learner brainstorms ability to start various businesses followed by reading/listening to text about market structure characteristics. Students will answer lesson by providing self-generated examples of market structures in the form of a word document response or some form of a multi-media response.

❖ Will correctly identify characteristics of each type of market structure.

Objective 5: Distinguish between the four types of market structures in a market economy.

Objective 5a: Identify basic characteristics of monopoly, oligopoly, monopolistic competition, and monopoly.



and knowledge”

● Initial Presentation offers alternatives (text equivalent of video



Students have to choose one of the two extension assessments:

lesson), ability to listen to video lesson (mp3 type file) auditory and visual information for definitions and examples of different market structures.






Written Response:

● Students will be assessed on a case study regarding large “chain” restaurants and small independent restaurants. They will identify the barriers to entry and the things small restaurants are doing to compete.

Multiple Choice

● Students will have the option of completing a set of multiple choice questions relating to the material covered in the instructional strategies.

The assessments for the learners in each module are performance based assessments. The students need to demonstrate a complete understanding of each part of the unit because the content is presented in a concept-related way in that the students build their knowledge of Microeconomics as they proceed through the lessons. One misconception or misunderstanding of the material could

negatively affect the material in proceeding lessons. Therefore, it is essential that the students understand the material in each step of the unit to the fullest extent.

Lesson 1 – Circular Flow of Economic Activity




Assessment: Students will take quiz about the Circular Flow Diagram using Google Forms. Quiz #1 will be multiple choice and matching. One question will be simple recall short-answer. Quiz #2 will have multiple choice and instead of the matching section located in quiz one, quiz two will have a short answer about the Circular Flow Model.

UDL Principles: The quiz will be differentiated to provide multiple means of expression. Some students will take a quiz that is matching and multiple choice. Other students will receive a quiz that has short answer. The students receiving the short answer quiz will have specific terms they need to use – the words come from the learning objectives. The reason for doing this is to provide more advanced learners based on prior EOCT and Lexile scores, a chance to demonstrate exceeding expectations of the material instead of simply meeting expectations. This differentiation provides learners with different way of demonstrating knowledge in the easiest and most comfortable form to them.

Lesson 2 – Types of Businesses in the Circular Flow Model


Objective 4a: Student will compare sole proprietorship, partnership, corporation, and franchise.

Objective 4b: Student will differentiate between sole proprietorship, partnership, corporation, and franchise.

Assessment:

Using Google Forms, all students will answer a short 5 question multiple choice quiz. Learners will then have the option of answering one of three extension activities.

1. Written Response: Explain the positives of starting a sole proprietorship, partnership, and corporation. Also, discuss the negative aspects of starting each of those businesses organizations. Include start-up costs, ability to raise revenue, liability, and level of control for each.

2. Recorded Response: Using Google Voice or online-voice-recorder.com, record a response to the following prompt – Explain the positive and negative aspects of sole proprietorship, partnership, or corporation. Include start-up costs, ability to raise revenue, liability, and level of control for each.

3. PowerPoint Case Study: You are going to start a marketing business. Which business organization would you choose to help start your business? Choose one of the three and provide a slide detailing what type of business organization it is. On the second slide, include the reasons you chose that business organization. On the third slide, provide a couple of reasons why you did not choose the other two business organization models.

UDL Principles: All students will be required to take five question objective-based multiple choice question quiz. This is to ensure that the students get practice with EOCT type questions (the EOCT is purely multiple choice). For differentiation of learner interests and needs, students are provided multiple modalities for expression to allow the learner to appropriately demonstrate knowledge and concepts in relation to the objective. Students have the option of writing a response, verbally presenting a response, or creating a PowerPoint.

Lesson 3 – Why Supply and Demand Affect Me?!





Assessment:


Written Response: From the generative strategy, some learners will generate their own “If” “Then” statements for whether the supply or demand curve shift (increase or decrease). Students will be required to complete five of these statements.

Graphic Organizer: Create a graphic organizer that demonstrates the main points of the Law of Supply and the Law of Demand. Students must create organizer that includes a definition of each, graphical depictions of each, and 2 examples of each law. Students are recommended to use a Web 2.0 tool or Microsoft Publisher.

Supply and Demand Identifier quiz: Using google forms, students will complete a quiz of 5 examples of the Law of Supply and the Law of Demand. The examples will ask the students to identify which is demonstrated and a short explanation as to why they think it is that particular law they are citing.

UDL: All students will be required to take five question objective-based multiple choice question quiz. This is to ensure that the students get practice with EOCT type questions (the EOCT is purely multiple choice). For differentiation of learner interests and needs, students are provided multiple modalities for expression to allow the learner to appropriately demonstrate knowledge and concepts in relation to the objective. This is demonstrated by the learners having the ability to demonstrate their knowledge through a written response, completion of a graphic organization using various forms of multimedia universally available, or a continuation of objective-based performance in form of a short answer quiz.

Lesson 4 – Determining Price and Quantity Using the Law of Supply and the Law of Demand

Objective 3: Students will determine graphically, how changes in supply and demand effect price and quantity of a good/product.



Assessment:


Written Response: Students will be given 3 scenarios and will be required to identify the following – 1) Was there a change in supply or demand, 2)What factor changed the supply or demand, 3) What happened to the price and quantity of the good or service?

Recorded Response: Students will be given 3 scenarios and will be required to identify the following – 1) Was there a change in supply or demand, 2)What factor changed the supply or demand, 3) What happened to the price and quantity of the good or service?

Multiple Choice Quiz: Using the same examples from the identifier examples in Lesson 3, students will be given a chart and need to correctly identify what factor caused a change in demand and change in supply.

UDL: All students will be required to take five question objective-based multiple choice question quiz. This is to ensure that the students get practice with EOCT type questions (the EOCT is purely multiple choice). For differentiation of learner interests and needs, students are provided multiple modalities for expression to allow the learner to appropriately demonstrate knowledge and concepts in relation to the objective. This is demonstrated by the learners having the ability to demonstrate their knowledge through a written response, oral response to same question posed in the written response, or a continuation of the knowledge and application based quiz that the students started with.

Lesson 5 – What would you do?




Assessment:

Written Response: Students will provide a two personal examples in which they have been affected by elasticity. Then, student will provide two examples of items that are inelastic that are personally inelastic.

Recorded Response: Students will provide a two personal examples in which they have been affected by elasticity. Then, student will provide two examples of items that are inelastic that are personally inelastic.

Graphic Organizer: Using any Web 2.0 tool or Microsoft Publisher, student will create a graphic organizer demonstrating the different between inelasticity and elasticity.

UDL: For differentiation of learner interests and needs, students are provided multiple modalities for expression to allow the learner to appropriately demonstrate knowledge and concepts in relation to the objective. This is demonstrated by the learners having the ability to demonstrate their knowledge through a written response, recorded response via recording software or, completion of a graphic organization using various forms of multimedia universally available.

Lesson 6 – Influencing the Behaviors of Businesses and Consumers


Objective 3E: Define and identify price floors.

Objective 3F: Define and identify price ceilings.


Objective 3H: Define surplus correctly.


Assessment:


Written Response: Students will summarize the positives and negatives of rent control from two sources found in newspaper, internet, or other sources. Learners must identify two positives and two negatives. Sources will need to be cited in APA style format.

Recorded Response: Using an approved form of response recording software, students will summarize the positives and negatives of rent control from two sources found in newspaper, internet, or other sources. Learners must identify two positives and two negatives. Sources will need to be cited in APA style format and submitted separate from the oral response.

Article Response: Students will provide a series of short answers regarding questions from an article about minimum wage. The learner will argue in favor or against raising the minimum wage.

UDL: All students will be required to take five question objective-based multiple choice question quiz. This is to ensure that the students get practice with EOCT type questions (the EOCT is purely multiple choice). For differentiation of learner interests and

needs, students are provided multiple modalities for expression to allow the learner to appropriately demonstrate knowledge and concepts in relation to the objective. This is demonstrated by the learners having the ability to demonstrate their knowledge through a written response, oral response to same question posed in the written response, or a continuation of the knowledge and application based quiz – with the students providing a short answer response as well as a persuasive argument.

Lesson 7 – Market Structures within the Circular Flow Model


Objective 5a: Define monopoly, oligopoly, monopolistic competition, and monopoly.

Assessment:


Written Response: Students will look at a case study about large “chain” restaurants and their influence in the market on small independent restaurants. Students will be asked to reference what the “barriers to entry” are for small chain restaurants and what small chain restaurants are doing to compete.

Multiple Choice quiz: Students will answer a series of multiple choice questions identifying the different characteristics of market structures.

UDL:

All students will be required to take five question objective-based multiple choice question quiz. This is to ensure that the students get practice with EOCT type questions (the EOCT is purely multiple choice). For differentiation of learner interests and needs, students are provided multiple modalities for expression to allow the learner to appropriately demonstrate knowledge and concepts in relation to the objective. This is demonstrated by the fact that students have the option of writing a response or continuing with a multiple-choice style assessment.

Assessment Examples

Objective 1 Assessment :

Quiz #1:

1. When the U.S. government purchases a submarine from a company, the government has made a major transaction in the

a) factor market b) public market c) product market d) foreign exchange market

2. What is the unit of study in microeconomics?

a) individual businesses and households b) inflation and recession c) consumption and expenditures d) imports and exports

3. Businesses (entrepreneurs) and labor interact in which of the following ways?

a) entrepreneurship makes decision about the use of labor.

b) Labor makes decision about the use of entrepreneurship.

c) Both entrepreneurship and labor receive payment in the form of interest.

d) Both entrepreneurship and labor receive payments in the form of rent.

4. The flow of goods and services to consumers is illustrated by

a) 4 to 2 b) 8 to 6 c) 2 to 5 d) 6 to 1

5. The payments for land, labor, capital, and entrepreneurial ability respectively are

a) rent, profit, wages, and interest

b) profits, wages, interest, and rent

c) rent, wages, interest, and profit

d) wages, rent, profit, and interest

6. A business that manufactures ice-skates buys steel for their blades in the


7. Correctly label each point on the Circular Flow Model (worth 1 pt. for each correct identification).

8. Describe and differentiate between the Factor Market and the Product Market within the Circular Flow Model. (2 pts. for defining each and 2 pts. for explaining the difference between each. Simply defining each does not explain the different.)

Quiz #2

Answer the following in complete sentences.

1. Given a chocolate candy bar, describe how it moves through the Circular Flow Model in terms of the resources used to make it. Must use the following terms: productive resources, resource in relation to factor market, goods and services in relation to product market, products in relation to household (10pts).

Rubric

0 1 2

Order of flow of resources

Does not correctly describe the flow of resources. Completely out of order

Is out of order in terms of the flow of resources on 1 or two parts.

Order of the flow of resources is in the correct step-by-step process.

Productive resources Does not identify any productive resources

Some productive resources are identified. Some are missing

All productive resources are identified correctly

Resource Does not explain use of resources by the business to make candy bar

Explains some of the uses that the resources will have for making the candy bar

Correctly identifies the resources come from the factor market and are used by the business to make candy bar

Goods and Services Does not discuss how the good or service and its relation to the product market

Explains minimally the relationship of the candy bar to the product market

Explains the relationship between the finished good and the product market.

Product Does not explain the relationship between the candy bar and the household

Gives limited explanation of the product and household

Discusses the relationship between the household and the product

Given the same chocolate candy bar in the previous prompt, write how the flow of model is used to facilitate exchange in terms of the Circular Flow Model. Must include the following terms: expenditures in relationship to product market, revenue, wages, interest, net profit, income.

0 1 2

Order of flow of money

Does not correctly describe the flow of money. Completely out of order

Is out of order in terms of the flow of money on 1 or two parts.

Order of the flow of money is in the correct step-by-step process.

Expenditures Does not explain the relationship between using expenditures between household and product market

Gives limited explanation as to use of expenditures and its relationship between household and product market

Gives clear and concise explanation about the use of expenditures and its relationship between the households and product market.

Revenue Does not discuss Defines revenue but Defines revenue and

revenue does not explain how it is acquired

explains where business get it.

Wages, interest, and profit

Does not discuss wages, interest, and profit

Discusses one or two aspects of wages, interest, and profit

Explains specifically what revenue is used for in terms of wages, interest, or profit.

Income Does not discuss income

Give limited explanation of what income is and where it comes from in regards to the Circular Flow Model

Detailed explanation as to the income, where it comes from, and what households use it for.

Objective Assessment 1: ANSWER KEY

Objective 1 Assessment :

Quiz #1:

1. When the U.S. government purchases a submarine from a company, the government has made a major transaction in the


2. What is the unit of study in microeconomics?

a) individual businesses and households b) inflation and recession c) consumption and expenditures d) imports and exports

3. Businesses (entrepreneurs) and labor interact in which of the following ways?

a) entrepreneurship makes decision about the use of labor.

b) Labor makes decision about the use of entrepreneurship.

c) Both entrepreneurship and labor receive payment in the form of interest.

d) Both entrepreneurship and labor receive payments in the form of rent.

4. The flow of goods and services to consumers is illustrated by

a) 4 to 2 b) 8 to 6 c) 2 to 5 d) 6 to 1

5. The payments for land, labor, capital, and entrepreneurial ability respectively are

a) rent, profit, wages, and interest

b) profits, wages, interest, and rent

c) rent, wages, interest, and profit

d) wages, rent, profit, and interest

6. A business that manufactures ice-skates buys steel for their blades in the


7. Correctly label each point on the Circular Flow Model (worth 1 pt. for each correct identification).

1. Expenditures (money payments), 2. Products, 3. Revenue, 4. Goods & Services, 5. Productive Resources, 6. Income, 7. Resources, 8. Wages, Interest, Profit.

8. Describe and differentiate between the Factor Market and the Product Market within the Circular Flow Model. (2 pts. for defining each and 2 pts. for explaining the difference between each. Simply defining each does not explain the different.)

Answers will vary – May look like the following:

● Product Market is the market that the households purchase goods and services that businesses or firms produce. An example would be a toaster.

● Factor Market is market in which businesses purchase the factors of production from households such as land, labor, capital and entrepreneurial skills/assets.

● The significant difference between the two is that the product market is where a finished good is purchased, the factor market is where the resources to make a good or service are purchased.

Quiz #2

Answer the following in complete sentences.

1. Given a chocolate candy bar, describe how it moves through the Circular Flow Model in terms of the resources used to make it. Must use the following terms: productive resources, resource, goods and services, products (10pts).

Answers will vary – May look like the following:

● The productive resources most likely used will be labor (workers), land (natural resources used to make candy bar), and capital (tools and knowledge).

● These various resources of land, and capital are used by the business.● The good will be the candy bar once all of the productive resources are used to make the finished good.● The product will be the candy bar, in its wrapping and on the store shelf ready to be sold to the household.

Given the same chocolate candy bar in the previous prompt, write how the flow of model is used to facilitate exchange in terms of the Circular Flow Model. Must include the following terms: expenditures, revenue, wages, interest, net profit, income.

Answers will vary – May have information similar to the following:

● The households pay money (expenditures) to the grocery store that sells the candy bar. ● The sale of the candy bar ultimately becomes revenue for the business/ firm. ● Some of that revenue is used toward the wages of the workers, the interest on loans for equipment and various other items, and

some of it may end up as profit.● The income it the money that the workers/laborers receive for working at the candy bar business. It is then used by the

households to pay bills or expend more money to purchase wanted and needed products.

Objective Assessment 2:

Multiple Choice required from every user:

1. Sharon decided to open a dry-cleaning business. She borrowed some money from her sister and took a loan from the bank. She hired one helper. What is a disadvantage of Sharon’s business as described?

a) no separation of ownership and control

b) ease of organizing the firm

c) unlimited liability

d) double taxation

2. Which form of business organization is the easiest to organize but is LEAST able to benefit from specialization?

a) sole proprietorship

b) partnership

c) limited partnership

d) corporation

3. Which of the following is true about a shareholder in a corporation?

a) A shareholder is part owner of that business

b) A shareholder may not share in earnings of that corporation

c) A shareholder may not transfer his share to another party without permission

d) A shareholder is liable for any debts accumulated by that corporation.

4) A corporation MOST often seeks to increase its profit and expand the size of its operations by

a) issuing stock

b) joining an oligopoly

c) becoming a monopoly

d) controlling the money supply

5) An advantage a partnership over a sole proprietorship is that a partnership

a) has stock it can issues to its members.

b) limited liability.

c) split of profits and revenues.

d) less ability of raising capital.

EXTENSION

Written Response:

Describe the positives and negatives of a sole proprietorship of sole proprietorship, partnership, and corporation. At least TWO positives and TWO negatives must be discussed for each. In your description of the positives and negatives – you need at least a sentence explaining WHY the evidence you provided is positive or negative.

Rubric

0 1 2 3

Sole Proprietorship Does not discuss sole proprietorship

Discusses some positives and

negatives, but not TWO of each. Also

doesn’t explain WHY evidence is positive or

negative.

Gives TWO positives and negative of

business organization, but doesn’t give WHY evidence is a positive

or negative.


business organization and gives WHY

evidence is a positive or negative.

Partnership Does not discuss partnership




negative.



or negative.




Corporation Does not discuss corporation




negative.



or negative.




Type of Business Does not include or discuss type of

Includes types of business student would



business chosen and why

choose but doesn’t contain reasons

choose and contains one or two required

reasons to be discussed in response

choose and contains all four two required

reasons to be discussed in response

Oral Response:


[See Rubric for written response]

Starting your own business:

If you were to start a business, which business organization would you prefer? In your response, give TWO reasons why you chose the business organization you did. Must discuss why that reason is a good one for you. Also, TWO reasons why you didn’t choose the other two business organizations. When giving your reasons as to why you didn’t choose the other two businesses organizations, give a couple sentence explanation for each reason WHY.

Rubric

0 1 2 3

Type of Business Did not give a business organization you would choose

Chose a business organization, but the reasons given were not ones that would match up with that type of business organization

Chose a business organization, but may have had a reason not match up with business organization or you did not go into depth with explanation

Chose a business organization, gave two logical reasons, and explained in a couple sentences why those reasons were good ones for you.

Why other business organizations were not chosen.

Did not give reasons why other business organizations weren’t chosen.

Gave reason why one business organization was not chosen but didn’t discuss the other

Gave reasons why the other business organizations weren’t chosen, but did not

Gave reasons why the business organization were chosen and why those reasons wouldn’t

business organization. explain WHY those reasons wouldn’t work for you.

work for you.

Justification for not choosing other business organizations

Did not discuss why other business organizations were not chosen

Brought up why other businesses organizations were chosen, but did not include in answer information about ability to raise revenue, liability, start-up costs, and level of control.

Brought up why other businesses organizations were chosen, but included only two of the following reasons: ability to raise revenue, liability, start-up costs, and level of control.

Brought up why other businesses organizations were chosen and included all of the following reasons: ability to raise revenue, liability, start-up costs, and level of control

Objective Assessment 2: Answer Key

Multiple Choice required from every user:

1. Sharon decided to open a dry-cleaning business. She borrowed some money from her sister and took a loan from the bank. She hired one helper. What is a disadvantage of Sharon’s business as described?

a) no separation of ownership and control

b) ease of organizing the firm

c) unlimited liability

d) double taxation

2. Which form of business organization is the easiest to organize but is LEAST able to benefit from specialization?

a) sole proprietorship

b) partnership

c) limited partnership

d) corporation

3. Which of the following is true about a shareholder in a corporation?

a) A shareholder is part owner of that business

b) A shareholder may not share in earnings of that corporation

c) A shareholder may not transfer his share to another party without permission

d) A shareholder is liable for any debts accumulated by that corporation.

4) A corporation MOST often seeks to increase its profit and expand the size of its operations by

a) issuing stock

b) joining an oligopoly

c) becoming a monopoly

d) controlling the money supply

5) An advantage a partnership over a sole proprietorship is that a partnership

a) has stock it can issues to its members.

b) limited liability.

c) split of profits and revenues.

d) less ability of raising capital.

EXTENSION

Written Response:


Answers will have more/other relevant information than what is listed – May information in response may include:

● Sole Proprietorshipo Positive: Ease of starting upo Positive: Control of businesso Negative: Unlimited liability/ risko Negative: Inability to raise capital.

● Partnershipo Positive: Ability to raise capitalo Positive: Specialization; each partner may specialize in something specific to the input process. o Negative: Sharing of profitso Negative: Control of business.

● Corporationo Positive: Ability to raise capitalo Positive: Limited liability o Negative: Control of businesso Negative: Availability to public of certain information.

Oral Response:


See Written Response

Starting your own business:

If you were to start a business, which business organization would you prefer? In your response, give TWO reasons why you chose the business organization you did, and TWO reasons why you didn’t choose the other two business organizations.

Possible Answer:

If I were to start a business, I would start a sole proprietorship. The first reason I would start this type of business organization is the ability of control. Sole proprietors are individual owners of the business and since there is no other input, I would get to make decisions without asking someone else for their opinion. Limited control is an aspect of both corporations and partnerships and because I want to be the only one with input and because I think I know what is best for my business, I would not want to share

control. Second, I would not have to share the rewards of operating a business. In a sole proprietorship, the sole owner of the business receives all the money or rewards. In a partnership and a corporation, the rewards are spread out amongst the different owners of the business organization meaning profits could be very limited amongst the members.


1. If there is an increase in demand, which direction does the demand curve shift?

a) Left b) Right c) flips to other axis d) It doesn’t shift.

2. When the income in households increases, what is likely the result?

a) The supply curve will shift to the left

b) The supply curve will shift to the right

c) The demand curve will shift to the left

d) The demand curve will shift to the right

3. Because of a recession, the overall supply of goods and services decreases. What is likely the result of this decrease of supply?





4. The point where supply and demand meet is called the

a) Unitarian b) matching point c) equilibrium d) equal clearing price

5) At the point in which supply and demand meet, the number of goods available is

a) unlimited b) unknown c) zero d) none

EXTENSION

1) Complete the following supply and demand shifting questions. First, identify whether supply or demand is being effected and WHY (1 pt.). Second, whether it is an increase or decrease supply and demand (1pt.). Third, which direction will the curve shift (1pt.). Answers could have logical explanations as to either supply or demand, that is why it is important to support your answers with WHY.

1. New Technology makes installing cable less expensive.

2. Ad warns parents of too much TV for kids.

3. Cost of renting DVD’s goes down.

4. Hundreds of new immigrants move to town.

5. Cable companies expect price of coax cable to increase.

6. Obama announces new tax cut, every household gets a large tax refund.

7. Three new cable companies come to town.

8. Satellites fall from space, satellite TV service disrupted.

9. Drought in California kills a lot of cows, less beef available in stores.

10. Major factory closes, people lose jobs.

2) Create a graphic organizer depicting the law of supply and the law of demand. Include what happens to prices (2pts), what supply typically affects (2pts), what demand typically affects (2pts), what supply and demand look like graphically (2pts) and a couple of tips for people learning about supply and demand curves (2pts).

3) Complete the following exercise.


1. If there is an increase in demand, which direction does the demand curve shift?

a) Left b) Right c) flips to other axis d) It doesn’t shift.

2. When the income in households increases, what is likely the result?





3. Because of a recession, the overall supply of goods and services decreases. What is likely the result of this decrease of supply?





4. The point where supply and demand meet is called the

a) Unitarian b) matching point c) equilibrium d) equal clearing price

5) At the point in which supply and demand meet, the number of goods available is

a) unlimited b) unknown c) zero d) none

EXTENSION

1) Complete the following supply and demand shifting questions. First, identify whether supply or demand is being effected (1 pt.). Second, whether it is an increase or decrease supply and demand and WHY (1pt.). Third, which direction will the curve shift (1pt.)

1. New Technology makes installing cable less expensive.

Supply; Increase in supply because it technology that will make it cheaper for businesses to supply a good; Shift right

2. Ad warns parents of too much TV for kids.

Demand because watching TV becomes less desirable; decrease; shift left

3. Cost of renting DVD’s goes down.

Neither because price does not change a curve. (Demand could be argued – if so, Demand; increase; right)

4. Hundreds of new immigrants move to town.

Demand because more consumers will demand more goods; increase; right.

5. Cable companies expect price of coax cable to increase.

Supply because it is the cost of a productive resource; decrease; left.

6. Obama announces new tax cut, every household gets a large tax refund.

Demand because it says household; increase; right.

7. Three new cable companies come to town.

Supply because cable businesses are supplying the cable; increase; right.

8. Satellites fall from space, satellite TV service disrupted.

(Supply or Demand) Supply because less service being provided by businesses or demand because less people will demand cable because services are not being provided; decrease; left.

9. Drought in California kills a lot of cows, less beef available in stores.

Supply because the cows belong to a farm which is a business; decrease; left.

10. Major factory closes, people lose jobs.

Demand because households are losing income; decrease; left.

2) Create a graphic organizer depicting the law of supply and the law of demand. Include what happens to prices (2pts), what supply typically affects (2pts), what demand typically affects (2pts), what supply and demand look like graphically (2pts) and a couple of tips for people learning about supply and demand curves (2pts).

3. Changes in Demand Activity

1. Yes; Increase; Right; C

2. Yes; Increase; Right; C

3. Yes; decrease; left; A


5. No; None; None; B



8. Yes; increase; right; C

Law of Supply and Law of Demand

Price QS

Demand typically effects consumers or households

PricePrice

QDQD

Tips:

An increase in supply or demand typically shifts curve to the right.

“Less is left” – typically a decrease in supply or demand will shift the curve to the left.

A simple change in price does not shift the supply or demand curve, just the quantity.

Supply typically effects businesses and the productive resources

QSPrice

Law of SupplyLaw of Demand

Objective 4 Assessment:

Multiple Choice:

1. In the graph below, lines D and S1 show the demand and supply schedules for the Anaxos Fruit Shake Company in its past month of operation.

Anaxos just upgraded its capital equipment by buying a machine that makes fruit shakes faster and cheaper than the original machine. What effect should this have on the graph?

a) Price: Rises; Quantity: Rises

b) Price: Drops; Quantity: Rises

c) Price: Rises; Quantity: Drops

d) Price: Drops; Quantity: Drops

2. Study the information below and use it to answer the question that follows.

Of the following, which situation would cause the shift of the supply curve from S1 to S2?

a) The government reduces subsidies to wheat farmers.

b) New fertilizers increase wheat crop yields.

c) Firms exit the wheat industry.

d) Drought reduces industry output by 25%

3. Study the information below and use it to answer the question.

A embargo (no longer supplying or trading with another nation) placed on the United States by major oil producing nations would most likely result in

a) Price Level: increase; Real GDP: increase

b) Price Level: increase; Real GDP: decrease

c) Price Level: decrease; Real GDP: increase

d) Price Level: decrease; Real GDP: decrease

4. A company has just upgraded its capital equipment by buying a new printing press that increases its production rate. What effect should this investment have on the company's prices and quantity it produces?

a) Price: rises; Quantity: rises

b) Price: rises; Quantity: drops

c) Price: drop; Quantity: rises

d) Price: drops; Quantity: drops

5. It is discovered that CHEE water decreases your health. What happens to the price and quantity of CHEE water?





EXTENSION

Written / Oral Response:

In the following three scenarios, you must identify the following: 1) Whether supply or demand was effected (1pt.), 2) What factor in changed the supply or demand (2 pts.), 3) Do/Does price(s) increase or decrease (1 Pt.), 4) Do/Does the quantity or quantities increase or decrease (1pt.). Each part that is to be identified in the question, either all points are awarded or no points will be rewarded.

1) Scenario 1: Mr. Cleveland is the owner of a pizza restaurant. He recently purchased another oven for his restaurant, which in addition to one that is already in the store.

2) Scenario 2: Unemployment has gone down in recent month nationally.

3) Scenario 3: The Georgia Southern Eagles are joining Football Bowl Championship (FCS) next season and many fans are excited (think of this question in terms of tickets for games).

Demand Determinate Activity

Categorize each change in demand from the headlines provided to the reason why demand changed. Match the headline number with the correct reason for a change in demand. One headline will have no answer because it is a change in the quantity demanded. One “reason” will have more than one headline.

Change in consumer Expectations

Change in consumer tastes

Change in the number of consumers in the market

A change in income

A change in the price of a substitute good

A change in the price of a complementary good

Objective 4 Assessment: ANSWER KEY

Multiple Choice:

1. In the graph below, lines D and S1 show the demand and supply schedules for the Anaxos Fruit Shake Company in its past month of operation.

Anaxos just upgraded its capital equipment by buying a machine that makes fruit shakes faster and cheaper than the original machine. What effect should this have on the graph?

a) Price: Rises; Quantity: Rises

b) Price: Drops; Quantity: Rises

c) Price: Rises; Quantity: Drops

d) Price: Drops; Quantity: Drops

2. Study the information below and use it to answer the question that follows.

Of the following, which situation would cause the shift of the supply curve from S1 to S2?

a) The government reduces subsidies to wheat farmers.

b) New fertilizers increase wheat crop yields.

c) Firms exit the wheat industry.

d) Drought reduces industry output by 25%

3. Study the information below and use it to answer the question.

A embargo (no longer supplying or trading with another nation) placed on the United States by major oil producing nations would most likely result in

a) Price Level: increase; Real GDP: increase

b) Price Level: increase; Real GDP: decrease

c) Price Level: decrease; Real GDP: increase

d) Price Level: decrease; Real GDP: decrease

4. A company has just upgraded its capital equipment by buying a new printing press that increases its production rate. What effect should this investment have on the company's prices and quantity it produces?





5. It is discovered that CHEE water decreases your health. What happens to the price and quantity of CHEE water?





EXTENSION

Written / Oral Response:

In the following three scenarios, you must identify the following: 1) Whether supply or demand was effected (1pt.), 2) What factor in changed the supply or demand (2 pts.), 3) Do/Does price(s) increase or decrease (1 Pt.), 4) Do/Does the quantity or quantities increase or decrease (1pt.). Each part that is to be identified in the question, either all points are awarded or no points will be rewarded.

1) Scenario 1: Mr. Cleveland is the owner of a pizza restaurant. He recently purchased another oven for his restaurant, which in addition to one that is already in the store.

1) Supply 2) Change in technology 3) Price decreases 4) Quantity increases

2) Scenario 2: Unemployment has gone down in recent month nationally.

1) Demand 2) Change in Income 3) Prices decrease 4) Quantity decreases

3) Scenario 3: The Georgia Southern Eagles are joining Football Bowl Championship (FCS) next season and many fans are excited (think of this question in terms of tickets for games).

1) Demand 2) Change in Expectations 3) Prices increase 4) Quantity increases

Demand Determinate Activity

Categorize each change in demand from the headlines provided to the reason why demand changed. Match the headline number with the correct reason for a change in demand. One headline will have no answer because it is a change in the quantity demanded. One “reason” will have more than one headline.

Change in consumer Expectations

1

Change in consumer tastes

4, 8

Change in the number of consumers in the market

2

A change in income 6

A change in the price of a substitute good

3

A change in the price of a complementary good

7


Written/Oral Response: Provide 2 personal examples in which you been affected by price elasticity. Be sure to explain WHY each piece of evidence you provide is considered elasticity (2pts each). Then, give 2 examples of items that are to you personally, inelastic. Explain why each item to you is inelastic (2 pts. each). Also, provide a definition of elasticity and inelasticity (1 pt. each)

Graphic Organizer: Create a graphic organizer about Elasticity and Inelasticity. In the graphic organizer, the following must be included: 1) Definition of price elasticity and inelasticity (2 pts.), 2) 2 pictures of items that are to you personally elastic 2 pictures of items that are to personally inelastic – include a brief description as to why (4 pts).


Written/Oral Response: Provide 2 personal examples in which you been affected by price elasticity. Be sure to explain WHY each piece of evidence you provide is considered elasticity (2pts each). Then, give 2 examples of items that are to you personally, inelastic. Explain why each item to you is inelastic (2 pts. each). Also, provide a definition of elasticity and inelasticity (1 pt. each)

Answers will have more/other relevant information than what is listed – May information in response may include:

Price elasticity – With a change in price, buyers are sensitive to the change and subsequently change their buying habits.

Price inelasticity – Despite a change in price, the sensitivity to the change in price is minor and doesn’t change the overall buying habits of the consumer.

Examples of price elasticity: Playoff ticket prices for Atlanta Braves – Because of the significant increase in price in the tickets for post-season games, I do not go to Braves games in the playoffs.

The price of beef has gone up nearly 60% in the past 5 years. As a result, my buying habits of beef has changed. I now substituted ground turkey in place of ground beef because it is cheaper.

Examples of price inelasticity: Despite the change in gas prices, I will continue to purchase gas at whatever price because it is necessary for me to travel to work.

Even though prices have increased in electricity, I will to use and pay for it at any cost because it is the only energy source available in my home.

Graphic Organizer: Create a graphic organizer about Elasticity and Inelasticity. In the graphic organizer, the following must be included: 1) Definition of price elasticity and inelasticity (2 pts.), 2) 2 pictures of items that are to you personally elastic 2 pictures of items that are to personally inelastic – include a brief description as to why (4 pts).

Price Elasticity – Change in price causes a change in the buying habits of consumer as a result of sensitivity to the price change.

Price Inelasticity – Change in price does not significantly change the buying habits of consumers because of limited sensitivity.


MULTIPLE CHOICE

1. Minimum wage is a type of

a) price floor. b) comparable worth c) price ceiling d) marginal price

2. Organizers of many high-interest sporting events such as the Super Bowl and the World Series usually set ticket prices lower than the equilibrium price, citing fairness as their reason.

What names do economists give the resulting set price and disequilibrium situation?

a) price ceiling; surplus b) price ceiling; shortage c) price floor; shortage d) price floor; surplus

3. People against raising the minimum wage argue that when a legal minimum wage is established above the equilibrium wage in the labor market

a) there will be an increase in unemployment

b) the quantity of the labor demanded by firms will increase

c) the quantity of labor supplied will decrease

Playoff ticket prices for Atlanta Braves – Because of the significant increase in price in the tickets for post-season games, I do not go to Braves games in the playoffs.

The price of beef has gone up nearly 60% in the past 5 years. As a result, my buying habits of beef has changed. I now substituted ground turkey in place of

Despite the change in gas prices, I will continue to purchase gas at whatever price because it is necessary for me to travel to work.

Even though prices have increased in electricity, I will to use and pay for it at any cost because it is the only energy source available in my home.

d) employers will have an incentive to use more labor an less capital

4.

Suppose the government set a binding price ceiling at $2. What would be the quantity demanded and the quantity supplied?

a) Demanded: 20; Supplied: 40 b) Demanded: 30; Supplied 30 c) Demanded 40; Supplied 30 d) Demanded 40; Supplied 20

5. In reference to the graphical figure in the previous problem, predict what would happen if the government set a price ceiling at $2.

a) A shortage of orange juice b) A surplus of orange juice c) All orange juice would be sold d) there would be a scarcity of orange juice

EXTENSION

Written/ Oral Response: Write a short response that includes two positives and two negatives to rent control. After you have identified the positives and negatives of rent control, write a brief argument in favor or against rent control. You must use at least TWO different sources and cite them in APA style format. (If you are recording your response please submit the APA citation separately).

1 2 3

Positives for rent control Did not give a positive for rent control

Gave a single positive for rent control

Gave two positives for rent control

Negatives of rent control Did not give a negative for rent control

Gave a single negative aspect of rent control

Gave two negatives for rent control.

Argument Did not provide an argument for Gave an argument but it was not Gave an argument citing evidence

or against rent control comprehensible or it difficult to understand your point; didn’t cite evidence

from your positives/ negatives. It was comprehensible as well.

APA Citation Did not cite any sources Sources were cited, but not in APA style format

Sources were cited and were in APA style format.

Short Answer and Persuasive response:

Read the following article about minimum wage and the arguments for and against raising it. After reading it, answer the following questions:

1) Why does Jeff Chapman think that market forces alone can’t set the price for labor effectively? (3pts)

2) What evidence does Kevin Hassett offer to prove that minimum wage increases affect unemployment (2 pts)? Would you agree that minimum wage denies workers the opportunity to earn a living (2 pts)?

3) Based on this debate, are you for or against the raising of the minimum wage? Provide a couple of pieces of evidence from the article to cite your position (3pts [2 pt. for position; 1 pt. for citing evidence from the article])

Objective 6 Assessment: Answer Key

MULTIPLE CHOICE

1. Minimum wage is a type of

a) price floor. b) comparable worth c) price ceiling d) marginal price

2. Organizers of many high-interest sporting events such as the Super Bowl and the World Series usually set ticket prices lower than the equilibrium price, citing fairness as their reason.

What names do economists give the resulting set price and disequilibrium situation?

a) price ceiling; surplus b) price ceiling; shortage c) price floor; shortage d) price floor; surplus

3. People against raising the minimum wage argue that when a legal minimum wage is established above the equilibrium wage in the labor market

a) there will be an increase in unemployment

b) the quantity of the labor demanded by firms will increase

c) the quantity of labor supplied will decrease

d) employers will have an incentive to use more labor an less capital

4.

Suppose the government set a binding price ceiling at $2. What would be the quantity demanded and the quantity supplied?

a) Demanded: 20; Supplied: 40 b) Demanded: 30; Supplied 30 c) Demanded 40; Supplied 30 d) Demanded 40; Supplied 20

5. In reference to the graphical figure in the previous problem, predict what would happen if the government set the price ceiling at $2.

a) A shortage of orange juice b) A surplus of orange juice c) All orange juice would be sold d) there would be a scarcity of orange juice

EXTENSION

Written/ Oral Response: Write a short response that includes two positives and two negatives to rent control. After you have identified the positives and negatives of rent control, write a brief argument in favor or against rent control. You must use at least TWO different sources and cite them in APA style format. (If you are recording your response please submit the APA citation separately).

Answers will vary – Responses may include the following

● Positive: Affordable units for people who could otherwise not afford them● Positive: Protection under law because of government intervention● Negative: Reduced mobility● Negative Poor upkeep by landlord because of reduced incentives

I believe that rent control is good because it helps people with finding housing that may not be affordable to them otherwise. Because government agencies are involved in the control of rent, some governmental protection is available to the people that live there, unlike disputes with private landlords.

Short Answer and Persuasive response:

Read the following article about minimum wage and the arguments for and against raising it. After reading it, answer the following questions:

1) Why does Jeff Chapman think that market forces alone can’t set the price for labor effectively? (3pts)

Low-wage workers don’t have the option of not working if employers aren’t willing to pay enough.

2) What evidence does Kevin Hassett offer to prove that minimum wage increases affect unemployment (2 pts)? Would you agree that minimum wage denies workers the opportunity to earn a living (2 pts)?

Evidence: The 1923 case of Adkins v. Children’s Hospital cites evidence that after the city had increased its minimum wage for nurses, the employer, Children’s Hospital had to reduce the number of nurses it employed.

3) Based on this debate, are you for or against the raising of the minimum wage? Provide a couple of pieces of evidence from the article to cite your position (3pts [2 pt. for position; 1 pt. for citing evidence from the article])

Answers will vary.

I believe that there should be an increase in minimum wage because without a higher minimum wage, employers will often set wages below the actual value of the work and it is a violation of basic fairness. According to the article, employers are often times paying a wage that is less than the labor is worth to them – I think people should earn what they are worth and it is currently not enough to meet basic needs.

Objective 7 Assessment:

1. Firm X has developed a new mechanical device and has patented all of the key components used in its production. As the sole producer of this device, Firm X is a

a) geographical monopoly b) natural monopoly c) technological monopoly d) government monopoly

2. In which market structure does a firm have greatest control over its product’s price?

a) perfect competition b) monopoly c) oligopoly d) monopolistic competition

3. Interdependence and price leadership are characteristics of firms in what kind of market structure?

a) monopoly b) oligopoly c) monopolistic competition d) perfect competition.

4. Agreement among members of an oligopoly to set prices and production levels is called

a) price leadership b) competition c) collusion d) imperfect monopoly

5. The main different between perfect competition and monopolistic competition is that

a) in perfect competition the prices are set by the government

b) in perfect competition the buyer is free to buy from any seller he or she chooses

c) in monopolistic competition there are fewer sellers and more buyers

d) in monopolistic competition sellers can profit from the from the difference between their products and other products.

EXTENSION

Written Response: Read the article and answer the questions that follow the article

Article questions:

1. What are “chain restaurants”? What are a couple of examples from chain restaurants mentioned in the article?

2. According to the article, how much of a market share did chain restaurants have last year?

3. Describe what the term “Wal-Marting” of the restaurant industry means.

4. From your knowledge of the article and prior knowledge, what are the barriers to entry that non large-chain restaurants (small independents) facing when trying to open up a restaurant for the first time.

5. According to the article, what are two strategies that small, independent restaurants are doing to survive and compete against the large chains?

6. What type of market structure is the article referring to in regards to the few, large-chain restaurants controlling most of the industry?

Multiple Choice:

1. Compared to a market with perfect competition, a monopoly often has

a) lower prices and fewer goods

b) higher prices and fewer goods

c) lower prices and more goods

d) higher prices and more goods

2. An example of a market that meets all four conditions for perfect competition

a) wheat b) jeans c) books d) bagels

3. Which of the following is NOT an example of an oligopoly?

a) bicycle repair shop b) soft-drink companies c) air travel businesses d) breakfast cereal companies

4. A market that is a monopoly has

a) many buyers and sellers

b) many firms selling slightly different products

c) a few firms dominating the market

d) one seller and many buyers

5. A market that is an oligopoly has





6. Public water is an example of an

a) oligopoly b) natural monopoly c) cartel d) trust

7. If several firms decide together to set the market price below their costs for the short term to drive competitors out of business, they are participating in

a) predatory pricing b) collusion c) differentiation e) economies of scale

8. An example of a barrier to entry is

a) high start-up costs b) low start-up costs c) perfect competition d) government deregulation

9. A firm with a natural monopoly

a) is an example of perfect competition

b) offers many different goods and services

c) usually agrees to allow the government to control the price and service provided

d) is usually very inefficient

10. A market structure with many sellers and many buyers is

a) an oligopoly b) monopolistic c) perfect competition d) non-price competition

Objective 7 Assessment: Answer Key

1. Firm X has developed a new mechanical device and has patented all of the key components used in its production. As the sole producer of this device, Firm X is a

a) geographical monopoly b) natural monopoly c) technological monopoly d) government monopoly

2. In which market structure does a firm have greatest control over its product’s price?

a) perfect competition b) monopoly c) oligopoly d) monopolistic competition

3. Interdependence and price leadership are characteristics of firms in what kind of market structure?

a) monopoly b) oligopoly c) monopolistic competition d) perfect competition.

4. Agreement among members of an oligopoly to set prices and production levels is called

a) price leadership b) competition c) collusion d) imperfect monopoly

5. The main different between perfect competition and monopolistic competition is that

a) in perfect competition the prices are set by the government

b) in perfect competition the buyer is free to buy from any seller he or she chooses

c) in monopolistic competition there are fewer sellers and more buyers

d) in monopolistic competition sellers can profit from the from the difference between their products and other products.

EXTENSION

1. What are “chain restaurants”? What are a couple of examples from chain restaurants mentioned in the article?

Chain-restaurants are typically national “name-brand” type of restaurants that sophisticated and well-known. Examples are Cheesecake Factory, P.F. Chang’s China Bistro, and Olive Garden,.

2. According to the article, how much of a market share did chain restaurants have last year?

50.6%

3. Describe what the term “Wal-Marting” of the restaurant industry means.

It means that one or a couple of restaurants dominate the market. Article discussed Wolfgang Puck’s chain of restaurants dominating the city.

4. From your knowledge of the article and prior knowledge, what are the barriers to entry that non large-chain restaurants (small independents) facing when trying to open up a restaurant for the first time.

Answers will vary:

Capital; Resources; Recognition; Connections; High start-up costs

5. According to the article, what are two strategies that small, independent restaurants are doing to survive and compete against the large chains?

Buying resources and ad-space together. Making purchases as small groups in order to make costs smaller.

6. What type of market structure is the article referring to in regards to the few, large-chain restaurants controlling most of the industry?

Oligopoly

Multiple Choice:

1. Compared to a market with perfect competition, a monopoly often has

a) lower prices and fewer goods

b) higher prices and fewer goods

c) lower prices and more goods

d) higher prices and more goods

2. An example of a market that meets all four conditions for perfect competition

a) wheat b) jeans c) books d) bagels

3. Which of the following is NOT an example of an oligopoly?

a) bicycle repair shop b) soft-drink companies c) air travel businesses d) breakfast cereal companies

4. A market that is a monopoly has





5. A market that is an oligopoly has





6. Public water is an example of an

a) oligopoly b) natural monopoly c) cartel d) trust

7. If several firms decide together to set the market price below their costs for the short term to drive competitors out of business, they are participating in

a) predatory pricing b) collusion c) differentiation e) economies of scale

8. An example of a barrier to entry is

a) high start-up costs b) low start-up costs c) perfect competition d) government deregulation

9. A firm with a natural monopoly

a) is an example of perfect competition

b) offers many different goods and services

c) usually agrees to allow the government to control the price and service provided

d) is usually very inefficient

10. A market structure with many sellers and many buyers is

a) an oligopoly b) monopolistic c) perfect competition d) non-price competition

KA Part VI

Instructional SequenceSequence Description Objective

1 To describe how households, businesses, and the government are inter-reliant and interact through the flow of goods, services, and money.

1

3 To explain the Law of Demand, Law of Supply, and how these laws determine prices, production, and distribution within a market economy.

2

4 To explain how markets, prices, and competition influence economic behavior.

3

2 Explain the organization and role of businesses in a market economy 4

5 Analyze the four types of market structures in a market economy. 5

This sequence is constructed upon the concept-related order of knowledge that students will need to learn the material. Each objective in this sequence acts as a prerequisite for the next objective in the sequence. The first objective is used as a basis for understanding and conceptualizing microeconomics. Following the first objective, students obtain knowledge that takes into account the material from the previous objectives in a logical order. To avoid the learner being passive, generative and motivational strategies are included so as the leaner understands how the content contributes to learning the task.

Lesson 1 – Circular Flow Model of Economic Activity


Objective 1A: The student will correctly illustrate the Circular Flow Model.

Objective 1B: The student will correctly identify the different parts of the Circular Flow Model.

Motivational Strategy: Think of an item that you would like to buy or buy frequently. Now, think of all the different parts that go in to making that product including the raw materials, the people needed to make it and ship it, and the stores that sell it. In 10-15 minutes, write down all of the different things that go into making and buying the product you thought of (CAST, 2011).

Initial Presentation: Students will watch a video identifying the different components of a Circular Flow Model. The video will include animation identifying the flow of money as well as the flow of resources. Included with the video will be a transcript and additional readings about microeconomics and the Circular Flow Model, which provides multiple forms of representation (Thiede, 2012), (Morrison, Ross, Kallman, & Kemp, 2013), (Georgia Department of Education, 2009).

Generative Strategy: Students will choose a good/ product. Learner will first correctly illustrate the Circular Flow Model. Then, the learner will use the product they chose to identify the flow of resources used to make the good. Finally, the learner will correctly identify the flow of money used to make good/product in the Circular Flow Model. Students may use any Web 2.0 tool they would like (Prezi, Picsviewer, Slideshare) or Microsoft Word publisher program like to complete diagram. (Winstanley & Bjork, 1997).

UDL:

Principle One: When given multiple means of representation, learners are given “various ways of acquiring information and knowledge”● Initial Presentation offers alternatives (text equivalent of video lesson) in auditory and visual information (images of the

Circular Flow Diagram). Principle Two: When learners are given multiple means of expression, they are provided with “alternatives for demonstrating what they know”

● Learners have the abilities to use multiple tools (Web 2.0 and Microsoft Publisher) to construct and compose their responses to the generative strategy within the instructional goal. Students will have ability to demonstrate knowledge in different ways on assessment.

Principle Three: Provide multiple means of engagement. ● Students think of a product that they like and buy in this lesson. Activity personalizes and contextualizes learner’s lives’.

Lesson 2 – Types of Businesses in the Circular Flow Model



Objective 4b: Student will contrast sole proprietorship, partnership, corporation, and franchise.

Motivational Strategy: If you were to start a business today, what are the some of the positives and negatives you can think of? Think of things like cost, licensing, ability to raise capital, location, advertising, who would take over if you died, what you happen if you were sued, etc. (CAST, 2011).

Initial Presentation: In a PowerPoint narrative, each businesses structure will be defined and will include identifying characteristics. Audio of the text will be available for each slide as well as links for further exploration. (Morra & Reynolds, 2010), (Morrison, Ross, Kallman, & Kemp, 2013, p.143).

Generative Strategy: Students will have the option of completing one of the following tasks – 1) create a chart of list that includes examples of sole proprietorship, partnership, corporation, and franchise (3 examples each). 2) Complete a drill and practice routine using knowledge of correct-response feedback until learners answer accurately 80% of the questions, 3) Students are given a list of examples of businesses organizations and argue for each example what business organization it is. (Morra & Reynolds, 2010), (Morrison, Ross, Kallman, & Kemp, 2013, p.144-45, 225)..UDL: Principle One: When given multiple means of representation, learners are given “various ways of acquiring information and knowledge”

● Initial Presentation offers alternatives (text equivalent of video lesson), ability to listen to video lesson (mp3 type file) auditory and visual information for examples of business organizations from PDF files of local newspaper clippings.

● Initial Presentation offers links for further information and other available sources to learn information on the material in the lesson. Principle Two: When learners are given multiple means of expression, they are provided with “alternatives for demonstrating what they know”● Students will have option of completing one of the three different types of generative strategies to demonstrate knowledge.● Students will have ability to demonstrate knowledge in different ways on assessment.

Principle Three: Provide multiple means of engagement. ● Learners think about the different factors of starting a business using the prompts initiated by the instructor.

Lesson 3 – Why Supply and Demand Affect Me!?





Motivational Strategy: The students will be provided with a link to a major league baseball team’s website (St. Louis Cardinals) [http://stlouis.cardinals.mlb.com/stl/ticketing/dynamic.jsp]. From there the students will be directed to navigate the site and view the prices for the cheapest section in the stadium for games against the Milwaukee Brewers, Pittsburgh Pirates, and the New York Yankees. Students will be asked to speculate why there are differences in the prices of the baseball games, despite the prices for the seats being in the same section. For students that are uninterested in baseball, a link will be provided for them to view the changes in the price of a barrel of oil [http://www.wtrg.com/oil_graphs/oilprice1869.gif]. The students will need to submit responses as to why think that oil prices have fluctuated and spiked, especially in recent years. (Thiede, 2012), (Morra & Reynolds, 2010).

Initial Presentation. Students will be provided a link to a web-based video that defines the Law of Supply and the Law of Demand as well as examples of each (examples will come from the motivational strategy). In addition to the video, a transcript, audio, and web-links will be provided with more information on supply and demand. (Morrison, Ross, Kallman, & Kemp, 2013, p. 139), (Rao & Tanner, 2010).

Generative Strategy: Students will complete a series of “If” “Then” statements in which the students will need to determine whether there was a change in supply or demand – and what that did to the price and quantity of that item(s). After completing the “If” “Then” statements – the students will have the ability to check their work based on a video tutorial that breaks down those “If” “Then” statements and how to properly do them. Students may also have the option of creating 5 of their own “If” “Then” statements of supply and demand. (Morrison, Ross, Kallman, & Kemp, 2013, p.139) and (Mora & Reynolds, 2010).

UDL:Principle One. When given multiple means of representation.

● Initial Presentation offers alternatives (text equivalent of video lesson), ability to listen to video lesson (mp3 type file) auditory and visual information for Law of Supply and Law of Demand.


Principle Two: When learners are given multiple means of expression.

● Students will have option of completing one of the two different types of generative strategies to demonstrate knowledge.● Students will have ability to demonstrate knowledge in different ways on assessment.

Principle Three: Provide multiple means of engagement. ● Learners analyze what the reasons are for different prices of tickets to baseball games or, if they are not interest in baseball they can think about why

gasoline prices continue to vary.

Lesson 4: Determining Price and Quantity using Law of Supply and Law of Demand

Objective 3: Students will determine graphically, how changes in supply and demand effect price and quantity of a good/product.



Motivational Strategy: Think to yourself, as a consumer, what are different things that would affect your ability to buy an item, especially one you would want. Now, think to yourself, what are different events, occurrences, or costs that may affect the costs of you producing or selling an item (CAST, 2011).

Initial Presentation: In a web-based tutorial, students will be presented with each factor that changes supply as well as a demonstration that shows graphically each change. Also, the tutorial will present the learner with each factor that changes demand, including a demonstration that displays graphical each change. (Morrison, Ross, Kallman, & Kemp, 2013, p. 146).

Generative Strategy: Students will develop an argument for why gasoline prices fluctuate. In their responses the students will need to include two factors that affect the supply of gas and two factors that affect the demand for gas. Learner will also need to demonstrate graphically the changes to each factor. Students may submit their response in the form of a word document, audio recording, or multi-media presentation. (Morrison, Ross, Kallman, & Kemp, 2013, p.146).

UDL:




Principle Two: When learners are given multiple means of expression.● Students will have option of completing the instructional lesson by using multiple forms of expression.● Students will have ability to demonstrate knowledge in different ways on assessment.Principle Three: Provide multiple means of engagement. ● Learners analyze what affects them as a consumer and what might affect them if they were a producer or business.

Lesson 5 – What would you do?




Motivational Strategy: Students are given a scenario that asks to speculate what would happen to their buying habits if the price of gas went from $3.50/ gallon to $3.55/ gallon. $3.55 to $3.75/ gallon. $3.75/ gallon to $4.75 (CAST, 2011).

Initial Presentation: Provide student with a definition of price elasticity and examples of elasticity and inelasticity through a web-based video. (Morrison, Ross, Kallman, & Kemp, 2013, p.145), (Morra & Reynolds, 2010).

Generative Strategy: Complete a drill and practice routine using knowledge of correct-response feedback until learners answer accurately 80% of the questions. Students will also have the opportunity to create a word document, audio file, video, or any Web-based 2.0 tool that argues elasticity or inelasticity of each instance of a set of examples given by the instructor. (Morrison, Ross, Kallman, & Kemp, 2013, p. 144). UDL:Principle One. When given multiple means of representation, learners are given “various ways of acquiring information and knowledge”● Initial Presentation offers alternatives (text equivalent of video lesson), ability to listen to video lesson (mp3 type file) auditory and

visual information for definitions and examples of price elasticity. ● Initial Presentation offers links for further information and other available sources to learn information on the material in the

lesson.

Principle Two. When learners are given multiple means of expression● Students will have option of completing the instructional lesson by using multiple forms of expression.● Students will have ability to demonstrate knowledge in different ways on assessment.

Principle Three. Provide multiple means of engagement.● Students speculate their buying habits based on different scenarios in which gasoline prices fluctuate.

Lesson 6: Influencing the Behavior of Businesses and Consumers







Motivational strategy: Ask learner to speculate what would happen if minimum wage was raised from $7.25/hr. to $10.00/hr. Student would need to include in their description what they think would happen to supply of labor, demand for labor, and what they think would happen to the overall prices of goods and services (CAST, 2011).

Initial Presentation: Student will be provided with a web-based video defining price ceilings and price floors as well as what each looks like graphically. Included will be examples what they look like graphically as well as definitions of surplus and shortage. Audio, transcript, and web-based links for further learning will be provided as well. (Morrison, Ross, Kallman, & Kemp, 2013, p.144).

Generative strategy: Students will have the option of completing one of the following tasks – 1) Create a chart of list that includes examples of price floors and price ceilings, 2) Complete a drill and practice routine using knowledge of correct-response feedback until learners answer accurately 80% of the questions, 3) Students are given a list of examples and are to determine which are or are not price floors/ceilings and argue why. Student will also need to develop their own definition of price floor and price ceiling using a mnemonic strategy. (Morra & Reynolds, 2010), (Morrison, Ross, Kallman, & Kemp, 2013, p.144-45, 225).

UDL:Principle One. When given multiple means of representation, learners are given “various ways of acquiring information and knowledge”● Initial Presentation offers alternatives (text equivalent of video lesson), ability to listen to video lesson (mp3 type file) auditory and

visual information for definitions and examples of price floors and ceilings – as well as their effects.● Initial Presentation offers links for further information and other available sources to learn information on the material in the

lesson.


Principle Three. Provide multiple means of engagement.● Learners speculate on what would happen from the perspective of the number of workers in the labor market if minimum wage

was raised. Also they speculate on what would happen to the number of laborers demanded by businesses if minimum wage was raised.

Lesson 7 – Market Structures within the Circular Flow Model.



Motivational Strategy: Have students brainstorm the ability to start and produce products for the following business: cucumber’s, fast-food (like a Burger King/ Subway), Automobile-maker, the only producer of computer software in the nation. Why might one business be harder to start-up than another? (CAST, 2011).

Initial Presentation: Then students will be directed to read a text called “Market Structures.” An audio file will be available for the students to listen to a reading of the audio file. As they do the readings, students will be directed to fill out a chart identifying different characteristics of each market structure. Included with this assignment will be links to other videos and readings about market structures. (Morra & Reynolds, 2010), (Morrison, Ross, Kallman, & Kemp, 2013, p. 143).

Generative Strategy: Students will be asked to develop examples on their of each market structure that was not already provided in the reading. Students will need to provide evidence of why they believe the businesses they chose are examples of a given market structure using the characteristics they learned from the initial presentation. Students have the option of submitting the assignment as a paper or a multimedia form such as PowerPoint. (Morra & Reynolds, 2010), (Morrison, Ross, Kallman, & Kemp, 2013, p.143).

UDL:

Principle One. When given multiple means of representation, learners are given “various ways of acquiring information and knowledge”● Initial Presentation offers alternatives (text equivalent of video lesson), ability to listen to video lesson (mp3 type file) auditory and

visual information for definitions and examples of different market structures. ● Initial Presentation offers links for further information and other available sources to learn information on the material in the

lesson.


Principle Three. Provide multiple means of engagement.

● Learners speculate on what the difficulties would be of opening certain kinds of businesses.

References

CAST (2011). Universal Design for Learning Guidelines version 2.0. Wakefield, MA: Author.

deWinstanley, P.A. & Bjork, E.L. (1997). Processing instructions and the generation effect: A test of the multi-factor transfer

appropriate processing theory. Memory (5) 3. Retrieved from

http://bjorklab.psych.ucla.edu/pubs/deWinstanley_EBjork_1997.pdf

Georgia Department of Education. (2009). Classroom analysis of state standards: The Georgia teacher evaluation system. Atlanta,

GA: Division of Teacher and Leader Quality.

Mora, T. & Reynolds, J. (2010). Universal design for learning: Application for technology-enhanced learning. Inquiry. Retrieved from

http://files.eric.ed.gov/fulltext/EJ881564.pdf

Morrison, G.R., Ross, S.M., Kalman, H.K., & Kemp, J.E. (2013). Designing effective instruction: Seventh edition [Kindle HDX Version].

Hoboken, NJ: John Wiley & Sons, Inc. Retrieved from amazon.com

Rao, T. & Tanners, A. (2012). Curb cuts in cyberspace: Universal instructional design for online courses. Journal of Postsecondary

Education and Disability (24) 3. Retrieved from https://go.view.usg.edu/d2l/le/content/701624/viewContent/10264984/

View

Thiede, R. (2012). Best practices with online courses. US-China Education Review, 2. Retrieved from

http://files.eric.ed.gov/fulltext/ED532176.pdf

KA Part VII

Instructional Strategies Goals Objectives UDL Assessments

Lesson 1: Web-based video about Circular Flow Model. Students will answer the lesson by picking out a finished product/ good and using a Web. 2.0 tool such as SlideShare, Prezi, and Picsviewer to complete a Circular Flow Model diagram.

● Identify the different parts of the Circular Flow Model.

● Label the different parts of the Circular Flow Model.

● Explain the flow of resources in the Circular Flow Model.

● Explain the flow of money in the Circular Flow Model.






and knowledge”

● Initial Presentation offers alternatives (text equivalent of video lesson) in auditory and visual information (images of the Circular Flow Diagram).


given multiple means of expression, they are provided with “alternatives for

demonstrating what they know”

● Learners have the abilities to use multiple tools (Web 2.0 and Microsoft Publisher) to construct and compose their responses to the generative strategy within the instructional

Quiz #1

Multiple Choice

● For identification for different parts of the Circular Flow Model

Matching

● For labeling the different parts of the Circular Flow Diagram, students will match different parts of the Circular Flow Model (labeled #1- #8) to a list.

Quiz #2

Short Answer

● For explanation on the flow of resources in the Circular Flow Model.

● For explanation of money in the Circular Flow Model.

● Within the short answer, students will be provided with a list of terms to use in the explanation.

goal.


Principle Three: Principle Three: Provide multiple means of engagement.

● Students think of a product that they like and buy in this lesson. Activity personalizes and contextualizes learner’s lives’.

Lesson 2: PowerPoint narrative detailing the different types of organizations. Learner will answer the lesson by completing a self-generated list of each type of businesses organization or; Complete a drill and practice routine using knowledge of correct-response feedback until learners answer accurately 80% of the questions or; Students are given a list of examples of businesses organizations and

❖ Identify the different types of business organizations.

❖ Compare the different business organizations.

❖ Differentiates between different business organizations.



Objective 4b: Student will differentiate sole

Principle One. When given multiple means of representation:

● Initial Presentation offers alternatives (text equivalent of video lesson), ability to listen to video lesson (mp3 type file) auditory and visual information for examples of business organizations from PDF files of local newspaper


Multiple Choice:



argue for each example what business organization it is.

proprietorship, partnership, corporation, and franchise.

clippings. ● Initial Presentation

offers links for further information and other available sources to learn information on the material in the lesson.


given multiple means of expression:

● Students will have option of completing one of the three different types of generative strategies to demonstrate knowledge.


Principle Three: Provide multiple means of engagement.

● Learners think about the different factors of starting a business using the prompts initiated by the instructor.

Written Response

● Explanation of the positives and negative features associated with the different types of business organizations. Students will submit response on quiz form.

Recorded Response:

● Oral response to the positives and negative features of each kind of business organization.

Case Study:

● Students have the choice to start-up a business organization. They are to choose one of the three, explaining why they chose it. They also need to explain why they didn’t choose the other two. Students will submit response on quiz form.

Lesson 3: Learners asked to speculate different prices of tickets for different days followed by web-based video explaining Laws of Supply and Demand. Students will answer lesson by completing a series of “if” “then” statements incorporating Law of Supply and Demand or, students will write 5 “if” “then” statements or their own which incorporate the Law of Supply and the Law of Demand.

❖ Defines Law of Supply and Law of Demand.

❖ Identifies examples Law of Supply and Law of Demand.






● Initial Presentation offers alternatives (text equivalent of video lesson), ability to listen to video lesson (mp3 type file) auditory and visual information for Law of Supply and Law of Demand.



● Students will have option of completing one of the two different types of generative strategies to demonstrate knowledge.




Written Response:

● Students will complete student-created examples from the generative strategy regarding if then statements. The responses have to include explanation as to why they chose change in supply or change in demand for the “then” section of the response. Students will submit response on quiz form.

Graphic Organizer:

● Students will create a graphic organizer depicting the Law of Supply and the Law of Demand using Web 2.0 tool.



● Learners analyze what the reasons are for different prices of tickets to baseball games or, if they are not interest in baseball they can think about why gasoline prices continue to vary.

Shifts in Supply and Demand Identifier:

● Students will be given a series of questions asking whether there was a shift in supply or demand. Students will submit response in quiz form.

Lesson 4: Tutorial presenting factors that change supply and demand as well as graphical depictions. Students will answer why gas prices fluctuate by using at least two factors that change supply and two factors that change demand; using word document, audio recording, or multi-media presentation tool (Web 2.0).

❖ Identifies the factors that change supply and demand

❖ Graphically depict changes in supply and demand.

Objective 3: Students will determine graphically, how changes in supply and demand effect price and quantity of a good/product. [Principle and Application]


Objective 3B: Student will illustrate graphically factors



● Initial Presentation offers links for further information and other




Written Response:

Students will be given 3 scenarios and will be

that cause a change in supply and demand.

available sources to learn information on the material in the lesson.





● Learners analyze what affects them as a consumer and what might affect them if they were a producer or business.

required to identify




Recorded Response:

Students will be given 3 scenarios and orally will need to identify:




Factors Changing Supply and Demand Identifier Quiz:

● Using the same examples from the identifier examples in Lesson 3, students will be given a chart and need to correctly identify what factor caused a change in demand and change in supply.

Lesson 5: Learners speculate on their buying habits

❖ Correctly identifies instances of elasticity

Objective 3: Determine what price changes do to the

Principle One. When given multiple means of


followed by a web based video defining and detailing price elasticity. Student will answer lesson by identifying examples of price elasticity and inelasticity through either answering 80% of questions correctly in a drill and practice routine or, using word document, audio file, video, or any Web-based 2.0 tool – argue for each example (in a set of 5) whether the example is one of elasticity or inelasticity.

and inelasticity. elasticity of buyers and sellers.



representation,


and knowledge”

● Initial Presentation offers alternatives (text equivalent of video lesson), ability to listen to video lesson (mp3 type file) auditory and visual information for definitions and examples of price elasticity.








Written Response:

● Students will provide a personal example in which they have been affected by elasticity and inelasticity.

Recorded Response:

● Students will orally provide a personal example in which they have been affected by elasticity and inelasticity.

Graphic Organizer:

● Student will create a graphic organizer demonstrating the difference between inelasticity and elasticity.


● Students speculate their buying habits based on different scenarios in which gasoline prices fluctuate.

Lesson 6: Learner speculation on raising minimum wage followed by web-based video instruction about price floors and price ceilings. Students will answer the lesson by completing one of the following tasks – 1) Create a chart of list that includes examples of price floors and price ceilings, 2) Complete a drill and practice routine using knowledge of correct-response feedback until learners answer accurately 80% of the questions, 3) Students are given a list of examples and are to determine which are or are not price floors/ceilings and argue why.

❖ Identifies price floors and price ceiling

❖ Analyzes the effects of price floors and price ceilings.








and knowledge”

● Initial Presentation offers alternatives (text equivalent of video lesson), ability to listen to video lesson (mp3 type file) auditory and visual information for definitions and examples of price floors and ceilings – as well as their effects.

● Initial Presentation offers links for further information and other available sources to




Written Response:

● Students will respond to an article about the positives and negatives of rent control. They will be required to give an example of each positive and negative. They will then argue in favor or support of rent control.


learn information on the material in the lesson.






● Learners speculate on what would happen from the perspective of the number of workers in the labor market if minimum wage was raised. Also they speculate on what would happen to the number of laborers demanded by businesses if minimum wage was raised.

Recorded Response:

● Students will respond orally to an article about the positives and negatives of rent control. They will be required to give an example of each positive and negative. They will then argue in favor or support of rent control.

Article Response:

● Students will give short answers to a series of questions related to an article about raising the minimum wage. They will then be asked whether they would or would not support raising it.

Lesson 7: Learner brainstorms ability to start various businesses followed by reading/listening to text about market structure characteristics. Students will answer lesson by providing self-generated examples of market structures in the form of a word document response or some form of a multi-media response.

❖ Will correctly identify characteristics of each type of market structure.





and knowledge”

● Initial Presentation offers alternatives (text equivalent of video lesson), ability to listen to video lesson (mp3 type file) auditory and visual information for definitions and examples of different market structures.


Principle Two. When learners are given multiple means of expression


● Students will have ability to demonstrate



Students have to choose one of the two extension assessments:

Written Response:

● Students will provide short responses (4) about each type of market structure (4). Responses Must include:

● Definition of market structure.

● Barriers to entry for market structure.

● Number of businesses in market structure.

● Two examples of each market structure.

Web 2.0 Tool or PowerPoint Presentation

● Students will provide slides or use of other media to summarize each type of market structure. Each summarization must

knowledge in different ways on assessment.


● Learners speculate on what the difficulties would be of opening certain kinds of businesses.

include:

● Definition of market structure.

● Barriers to entry for market structure.

● Number of businesses in market structure.

● Two examples of each market structure.

KA Part VIII

Formative Evaluation – Part VIII

The purpose of the evaluations is to inform the instructional designer of how well the program is serving its objectives and the effectiveness of the materials used for the online module. Evaluation of the design will be completed at the end of the unit by the learners. Also, a SME expert will complete the online module and will be asked to evaluate design using a set of questions that us different than the students. The SME will be Brandon Holcomb, an associate instructor at Apalachee High that has taught Social Studies for nine years and is certified in Economics. The evaluations will be conducted online using Google Forms.

Online survey for online learner:

1. Having completed the online module in Microeconomics, how confident do you feel your knowledge is about the material?

1 – No confidence 2- Little confidence 3- Somewhat confident 4 – Confident 5- Very confident

2. Were materials easy to locate and use?

1- Not at all 2 – Very little 3- Some were and some weren’t 4- Easy 5 – Very Easy

3. Estimate how much time (in hours) you spent on this course.

Enter amount:

4. Overall, were the directions for the activities understandable?

1 – No 2 – Very Litter3- Somewhat understandable 4- Mostly understandable 5 – Understandable

5. Click the lesson(s) in which the directions were not understandable. You may click more than one

Lesson 1; Lesson 2; Lesson 3; Lesson 4; Lesson 5; Lesson 6; Lesson 7

6. Please leave any comments on what can be improved about this online module. If possible, include things you would have liked to see.

7. Were the summative assessments at the end of each lesson understandable and related to the objectives? Explain.

8. Did the instruction (such as videos, text, links provided) help you understand the material? Explain.

Online survey for SME:

1. Given the objectives for the course, is the level of learning acceptable in that it covers the content students need to know?

2. Are the activities acceptable for the learners?

3. Do the summative assessments at the end of each lesson assess the instructional objective?

4. Is the instructional content appropriate? Explain your answer.

5. Do you believe that principles of Universal Design for Learning were met and were they appropriate for the various lesson? If no, explain.

6. What revisions to the program are necessary? Explain your answer.

After all the learners and the SME complete the surveys I will do a qualitative analysis to see if there are common themes or concerns among the learners themselves as well as any relationship between the online learners responses and the SME’s response. I will look to see if the survey results indicate effectiveness and ineffectiveness of the material presented in the online module. I will also take into consideration any revisions or suggestions by the students and the SME given time, cost, and long-term benefits.

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