Robert Rush MiE- 5 Microeconomics Lesson Plan 5 Grade: 12th Grade Economics Period: 4th Block Length: 78 minutes

Objectives: 5. I want my students to learn about the theory of production. Students will be able to: a. Explain the theory of production b. Describe the three stages of production 6. I want my students to learn about cost, revenue, and profit maximization. Students will be able to: a. Define four key measures of cost. b. Identify two key measures of revenue. c. Apply incremental analysis to business decisions.

Standards: 3.) Analyze graphs to determine changes in supply and demand and their effect on equilibrium price and quality. 4.) Explain the impact of the labor market on the market economy of the United States.
I. II. Theory of Production/ Cost, revenue, and profit maximization Pre-Class preparation: A. Materials needed 1. Computer 2. PowerPoint program 3. Projector 4. Textbook/ portfolio B. Set-up 1. Projector 2. PowerPoint presentation ( opened to first slide) Instructional Procedures: A. Review of previous lesson (10 minutes) B. Lecture/ notes on Theory of Production (20 minutes) C. Activity (15 minutes) D. Lecture on Cost (15 minutes) E. Guided Practice (15 minutes) Evaluation: 1. Students responses to understanding of the concepts presented. 2. Students comprehension of terminology. 3. Students ability to distinguish between cost and profit . 4. Students will able to accurately explain the material. Self-evaluation: 1. Were the objectives met and do the students know the material? 2. Did the students successfully identify key concepts? 3. Were the presentations informative and successful in relaying information? 4. Were students able to accurately explain and discuss the material? Modifications: 1. Copies of notes for those who need them.

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Robert Rush MiE- 5 2. Extra time to complete any assignment. Instructional Procedures include lecture and discussion concerning microeconomics. The lectures/ discussions will include the topics of demand, supply, elasticity, demand factors, social goals, role of the government, and price. After lecture, students will break up into small groups and work on handouts.