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. :
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 Endof-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.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:
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
2 https://www.georgiastandards.org/standards/Georgia%20Performance%20Standards/Economics.pdf
3 http://www.barrow.k12.ga.us/Testing/EOCT_Results2013.pdf
4 http://www.barrow.k12.ga.us/ahs/Compact_2013-14_Draft.pdf
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 learners lack of knowledge.
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.
*
*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.
_____ I felt going into my Economics class, I had a strong understanding of the subject.
_____ I have had success in other social studies courses at Apalachee High School.
_____ I am comfortable with the material I have learned thus far in my Economics class.
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, dont 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.
_____ Most other students are apathetic (dont care) about school.
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.
____ My teachers seem to enjoy teaching.
Average Response: 4
_____ I want my teachers to be pleased with me.
_____ for the most part, school has been a pleasurable experience for me.
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.
_____ School encourages me to be creative.
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
o
o
< 1210 = 25 Students

1210-1360 = 23 Students
> 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. McDonalds burgers vs. Five Guys 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 associates
degree in Communication and Media Arts from Genesee Community College (Batavia, N.Y.). I have also received a bachelors of
science in Social Studies Education from the University of Georgia (Athens, GA). Currently, I am in the process of acquiring a
masters 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
Fact
1B, 4A, 2A, 2B, 3A,
Application
1A, 4B, 4C, 2C, 3B,
3C, 3H, 3I, 5A

Concept
3E, 3F, 3G
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
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.
Goals
Identify the
different parts of the
Circular Flow Model.
Label the
Explain the
flow of resources in the
Explain the
flow of money in the
Objectives
UDL
Assessments
Objective 1: After
completing this lesson,
students will correctly
analyze the Circular Flow
Diagram.
Principle One. When given

multiple means of
representation,
Quiz #1
learners are given various

ways of acquiring
information
For identification for

different parts of the Circular
Flow Model
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.
and knowledge
Initial Presentation offers
alternatives (text equivalent
of video lesson) in auditory
and visual information
(images of the Circular Flow
Diagram).
Matching
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
Principle Two. When

learners are
Short Answer
given multiple means of

expression, they are provided
with alternatives for
demonstrating what they
know
Multiple Choice
For labeling the different

parts of the Circular Flow
Diagram, students will match
Flow Model (labeled #1- #8)
to a list.
One short answer response

pertaining to parts of the
Circular Flow model
Quiz #2
Short Answer
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.
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.
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.
Differentia
tes between different
Objective 4: Students will

identify the different types of
businesses that makes goods
and services within the
Objective 4A: Student will

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

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

differentiate sole
proprietorship, partnership,
corporation, and franchise.
Students will have ability to

demonstrate knowledge in
different ways on
assessment.
Within the short answer,

students will be provided
with a list of terms to use in
the explanation.

multiple means of
representation:
All students must complete

multiple choice section:
Multiple Choice:
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.
links for further information
and other available sources
to learn information on the
material in the lesson.
Principle Two. When

learners are
expression:
Students will have option of
completing one of the three
different types of generative
strategies to demonstrate
Knowledge, comprehension,
application, analysis type
questions.
Students have to choose one

of the three extension
assessments:
Written Response
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
knowledge.

different ways on
assessment.
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.

correctly determine how
businesses and households
are impacted by the Law of
Objective 2A: Define Law

of Supply.
Objective 2B: Define the

Law of Demand.
Objective 2C: Students will

determine whether supply or
demand is effected in a
variety of scenarios.

multiple means of
representation.

information for Law of
Principle Two. When

learners are given multiple
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 didnt choose the
other two. Students will
form.
questions.

assessments:
Written Response:
Students will give short
answer response to a series
of supply and demand
shifting questions.
Graphic Organizer:
means of expression.

completing one of the two
knowledge.

different ways on
assessment.
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

determine graphically, how
changes in supply and
demand effect price and
quantity of a good/product.
[Principle and Application]
Graphicall
y depict changes in
supply

correctly identify factors that
cause a change in market
supply and demand.
Graphicall
y depict the changes in

multiple means of
representation.

information for factors
effecting supply and demand.
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.

questions.

assessments:
Written Response:
Students will be given 3
Demand
illustrate graphically factors

that cause a change in supply
and demand.
Principle Two. When


completing the instructional
lesson by using multiple
forms of expression.

different ways on
assessment.
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:
scenarios and orally will
need to identify:
or demand?
quantity?
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

Correctly identifies instances
on their buying habits
of elasticity and inelasticity.
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
Objective 3: Determine what

price changes do to the
elasticity of buyers and
sellers.
Objective 3C: Define price

elasticity.

multiple means of
representation,

assessments:

ways of acquiring
information
Written Response:
and knowledge
Students will provide two
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.
Objective 3D: Student will

determine elasticity of a
change in supply or demand.

information for definitions
and examples of price
elasticity.
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:
Principle Two. When

learners are
expression
different ways on
assessment.
Lesson 6: Learner
speculation on raising
minimum wage followed by
web-based video instruction
Identifies
price floors and price
ceiling
Objective 3: Student will

identify government imposed

multiple means of
representation,
Students will provide two

personal examples in which
elasticity. Then, students will
explain two goods or
services that are personally
inelastic to them.
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.

Knowledge,
about price floors and price

ceilings. Students will
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 correctresponse 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.
Analyzes
the effects of price floors
and price ceilings.
ceilings.

ways of acquiring
information
Objective 3E: Identify price

floors.
and knowledge
Objective 3F: Identify price

ceilings.
Objective 3G: Student will

graphically depict price
floors and prices ceilings.
Objective 3H: Define

surplus correctly.
Objective 3I: Define

shortage correctly.

and examples of price floors
and ceilings as well as their
effects.
Principle Two. When

learners are
expression
different ways on
assessment.
comprehension, application,
analysis type questions.

assessments:
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
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
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
Will correctly identify
brainstorms ability to start
characteristics of each type
various businesses followed
of market structure.
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 multimedia response.
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.

multiple means of
representation,
ways of acquiring
information
and knowledge
and examples of different
market structures.
Principle Two. When

learners are
expression

Knowledge,

of the two extension
assessments:
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.
different ways on
assessment.
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
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.
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 4: Students will identify the different types of businesses that makes goods and services within 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?!
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.

Objective 2B: Define the Law of Demand.
Objective 2C: Students will determine whether supply or demand is effected in a variety of scenarios.
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
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.
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.
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.
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?
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.
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 3: Student will identify government imposed price floors and price ceilings.
Objective 3E: Define and identify price floors.
Objective 3F: Define and identify price ceilings.
Objective 3G: Student will graphically depict price floors and prices ceilings.
Objective 3H: Define surplus correctly.
Objective 3I: Define shortage 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.
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 5: Distinguish between the four types of market structures in a market economy.
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 multiplechoice 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
exports
b) inflation and recession
c) consumption and expenditures
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.
d) imports and
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
a) factor market
b) public market
c) product market
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
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

the candy bar and the
household
Gives limited
explanation of the
product and household
Discusses the
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
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

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

concise explanation
about the use of
expenditures and its
the households and
product market.
Revenue
Does not discuss

revenue
Defines revenue but

does not explain how
Defines revenue and

explains where
it is acquired
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

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
2. What is the unit of study in microeconomics?

a) individual businesses and households
exports
b) inflation and recession
c) consumption and expenditures
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) imports and
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
a) factor market
b) public market
c) product market
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 Sharons 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
Sole Proprietorship
Does not discuss sole

proprietorship
Discusses some
positives and
negatives, but not
TWO of each. Also
doesnt explain WHY
evidence is positive or
negative.
Gives TWO positives

and negative of
business organization,
but doesnt give WHY
evidence is a positive
or negative.
Gives TWO positives

and negative of
business organization
and gives WHY
or negative.
Partnership
Does not discuss

partnership
Discusses some
positives and
negatives, but not
TWO of each. Also
doesnt explain WHY
negative.
Gives TWO positives

and negative of
but doesnt give WHY
or negative.
Gives TWO positives

and negative of
and gives WHY
or negative.
Corporation
Does not discuss

corporation
Discusses some
positives and
negatives, but not
TWO of each. Also
doesnt explain WHY
negative.
Gives TWO positives

and negative of
but doesnt give WHY
or negative.
Gives TWO positives

and negative of
and gives WHY
or negative.
Type of Business
Does not include or

discuss type of
business chosen and
why
Includes types of
business student would
choose but doesnt
contain reasons
Includes types of
choose and contains
one or two required
Includes types of
choose and contains all
four two required
reasons to be discussed
in response
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 didnt choose the
other two business organizations. When giving your reasons as to why you didnt choose the other two businesses organizations, give
a couple sentence explanation for each reason WHY.
Rubric
0
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
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 werent
chosen.
Gave reason why one

was not chosen but
didnt discuss the other
business organization.
Gave reasons why the

other business
organizations werent
chosen, but did not
explain WHY those
reasons wouldnt work
Gave reasons why the

were chosen and why
those reasons wouldnt
work for you.
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.

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

businesses
organizations were
chosen and included all
of the following
reasons: ability to raise
revenue, liability, startup 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 Sharons 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 Proprietorship
o
o
o
o
o
o
o
o
o
o
o
o
Positive: Ease of starting up

Positive: Control of business
Negative: Unlimited liability/ risk
Negative: Inability to raise capital.
Partnership
Positive: Ability to raise capital
Positive: Specialization; each partner may specialize in something specific to the input process.
Negative: Sharing of profits
Negative: Control of business.
Corporation
Positive: Ability to raise capital
Positive: Limited liability
Negative: Control of business
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 didnt 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 doesnt 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 DVDs 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 doesnt 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 DVDs 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).
Law of Supply and Law of

Demand
Law of Demand
Law of Supply
Tips:
An increase in supply
or demand typically
shifts curve to the
right.
Pric
QD
Pric
QD
Demand typically
effects consumers
or households
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
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.
Pric
QS
Supply typically
effects businesses
and the
productive
Pric
QS
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
Change in consumer
tastes
4, 8
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
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 doesnt 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.
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.
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.
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
Even though prices have increased in

electricity, I will to use and pay for it at
any cost because it is the only energy
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 a price ceiling at $2.
a) A shortage of orange juice
juice
b) A surplus of orange juice
c) All orange juice would be sold
d) there would be a scarcity of orange
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
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
APA Citation
or against rent control
comprehensible or it difficult to
understand your point; didnt cite
evidence
from your positives/ negatives. It

was comprehensible as well.
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 cant 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
juice
b) A surplus of orange juice
c) All orange juice would be sold
d) there would be a scarcity of orange
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 cant set the price for labor effectively? (3pts)
Low-wage workers dont have the option of not working if employers arent 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. Childrens Hospital cites evidence that after the city had increased its minimum wage for nurses, the
employer, Childrens 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.
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 products 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
4. A market that is a monopoly has

a) many buyers and sellers
c) air travel businesses
d) breakfast cereal companies
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 products 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. Changs 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 Pucks 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
4. A market that is a monopoly has

c) air travel businesses
d) breakfast cereal companies
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 Sequence
Sequence Description
Objective
To describe how households, businesses, and the government are

inter-reliant and interact through the flow of goods, services, and
money.
To explain the Law of Demand, Law of Supply, and how these laws
determine prices, production, and distribution within a market
economy.
To explain how markets, prices, and competition influence economic

behavior.
Explain the organization and role of businesses in a market economy
Analyze the four types of market structures in a market economy.
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 1: After completing this lesson, students will correctly analyze the Circular Flow Diagram.
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 learners lives.
Lesson 2 Types of Businesses in the Circular Flow Model

Objective 4: Students will identify the different types of businesses that makes goods and services within the Circular Flow Model.
Objective 4a: Student will compare sole proprietorship, partnership, corporation, and franchise.
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.
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!?

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.
Objective 2B: Define the Law of Demand.
Objective 2C: Students will determine whether supply or demand is effected in a variety of scenarios.
Motivational Strategy: The students will be provided with a link to a major league baseball teams 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 weblinks 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.
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.
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.
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 multimedia presentation. (Morrison, Ross, Kallman, & Kemp, 2013, p.146).
UDL:
Principle One. When given multiple means of representation.
visual information for factors effecting supply and demand.
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.
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?

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.
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 Webbased 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
visual information for definitions and examples of price elasticity.
Principle Two. When learners are given multiple means of expression
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

Objective 3: Student will identify government imposed price floors and price ceilings.
Objective 3E: Define and identify price floors.
Objective 3F: Define and identify price ceilings.
Objective 3G: Student will graphically depict price floors and prices ceilings.
Objective 3H: Define surplus correctly.
Objective 3I: Define shortage correctly.
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:
knowledge
visual information for definitions and examples of price floors and ceilings as well as their effects.
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.
Objective 5: Distinguish between the four types of market structures in a market economy.
Objective 5a: Define monopoly, oligopoly, monopolistic competition, and monopoly.

Motivational Strategy: Have students brainstorm the ability to start and produce products for the following business: cucumbers, fastfood (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:
knowledge
visual information for definitions and examples of different market structures.
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
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
Goals
Identify the
Label the
Objectives
UDL
Assessments
Objective 1: After
completing this lesson,
students will correctly
analyze the Circular Flow
Diagram.

multiple means of
representation,
Quiz #1

ways of acquiring
information
For identification for

Flow Model
Multiple Choice
Picsviewer to complete a
Circular Flow Model
diagram.

Explain the
flow of resources in the
Explain the
flow of money in the
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
and knowledge
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
Principle Two. When

learners are

of video lesson) in auditory
and visual information
(images of the Circular Flow
Diagram).

expression, they are provided
with alternatives for
demonstrating what they
know
Matching
For labeling the different
parts of the Circular Flow
Diagram, students will match
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.
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.

different ways on
assessment.
Principle Three: Principle

Three: Provide multiple
Within the short answer,

students will be provided
with a list of terms to use in
the explanation.
means of engagement.
Students think of a product

that they like and buy in this
lesson. Activity personalizes
and contextualizes learners
lives.
Lesson 2: PowerPoint
narrative detailing the
different types of
organizations. Learner will
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
Compare
the different business
organizations.
Differentia
tes between different

identify the different types of
businesses that makes goods
and services within the
Objective 4a: Student will

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

differentiate sole
proprietorship, partnership,
corporation, and franchise.

multiple means of
representation:

Multiple Choice:
information for examples of
business organizations from
PDF files of local newspaper
clippings.
Principle Two. When

learners are
expression:
completing one of the three
questions.

assessments:
Written Response
Explanation of the positives
and negative features
associated with the different
types of business
organizations. Students will
form.

knowledge.

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: 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
Defines Law of Supply and

Law of Demand.
Identifies examples Law of


correctly determine how
businesses and households
are impacted by the Law of
Objective 2A: Define Law

of Supply.
Objective 2B: Define the

Law of Demand.

multiple means of
representation.

information for Law of
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 didnt choose the
other two. Students will
form.

questions.

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

Principle Two. When


completing one of the two
knowledge.
Written Response:
Students will complete studentcreated 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.

different ways on
assessment.
Shifts in Supply and Demand

Identifier:

multiple means of
engagement.
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.
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: Tutorial presenting
Identifies
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).
the factors that change

supply and demand
Graphicall
y depict changes in
supply and demand.
determine graphically, how

changes in supply and
demand effect price and
quantity of a good/product.
[Principle and Application]

correctly identify factors that
cause a change in market
supply and demand.

illustrate graphically factors
that cause a change in supply
and demand.
multiple means of
representation.

information for factors
effecting supply and demand.
Principle Two. When



different ways on
assessment.

questions.

assessments:
Written Response:
scenarios and will be
required to identify
or demand?
quantity?
Recorded Response:
scenarios and orally will
need to identify:
or demand?
quantity?
Factors Changing Supply

and Demand Identifier Quiz:
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: Learners speculate

Correctly identifies instances
on their buying habits
of elasticity and inelasticity.
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.
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.

multiple means of
representation,
ways of acquiring
information
and knowledge
and examples of price
elasticity.
Principle Two. When

learners are
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.

Knowledge,

assessments:
Written Response:
Students will provide a
personal example in which
elasticity and inelasticity.
Recorded Response:
Students will orally provide a
personal example in which
elasticity and inelasticity.
expression
Graphic Organizer:

Student will create a graphic

organizer demonstrating the
difference between
inelasticity and elasticity.

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: Learner
speculation on raising
minimum wage followed by
web-based video instruction
about price floors and price
ceilings. Students will
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 correctresponse feedback until
Identifies
ceiling
Analyzes
the effects of price floors
and price ceilings.
Objective 3: Student will

identify government imposed
ceilings.
Objective 3E: Define and

identify price floors.
Objective 3F: Define and

identify price ceilings.

multiple means of
representation,
ways of acquiring
information
and knowledge

Knowledge,

assessments:
Written Response:
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.
Objective 3G: Student will

graphically depict price
floors and prices ceilings.
Objective 3H: Define

surplus correctly.
Objective 3I: Define

shortage correctly.
and examples of price floors

and ceilings as well as their
effects.
Principle Two. When

learners are
expression
different ways on
assessment.

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
Students will respond to an

article about the positives and
will be required to give an
example of each positive and
negative. They will then argue
in favor or support of rent
control.
Recorded Response:
Students will respond orally to
an article about the positives and
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.
was raised.
Lesson 7: Learner
Will correctly identify
brainstorms ability to start
characteristics of each type
various businesses followed
of market structure.
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 multimedia response.
Objective 5: Distinguish
between the four types of
market structures in a market
economy.
Objective 5a: Define

monopoly, oligopoly,
monopolistic competition,
and monopoly.

multiple means of
representation,
ways of acquiring
information
and knowledge
and examples of different
market structures.
Principle Two. When

means of expression

Knowledge,

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
different ways on
assessment.
each type of market structure.

Each summarization must
include:
Definition of market structure.

multiple means of
engagement.
Learners speculate on what
the difficulties would be of
opening certain kinds of
businesses.
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 werent 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 Litter 3- 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 SMEs 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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Part 1: Identification of Learning Problem

Problem Identification and Analysis

International 72% of questions answered correctly

KA Part II Learner Analysis

Entry Skills and Prior Knowledge

Attitude toward Teacher and School

General Learning Preferences

Average EOCT score in U.S. History: 78

< 1210 = 25 Students

2.5 Factor Market / Resource Market

4.8.1.2 Creates surpluses

5.3.1 Raise large amounts of capital through the issue of stock

Key Assessment Part IV

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

Classification of Instructional Objectives:

1B, 4A, 2A, 2B, 3A,

3C, 3H, 3I, 5A

Georgia Performance Standards

SSEMI 1a. Illustrate by means of a circular flow diagram, the

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

SSEMI 2a. Define the Law of Supply and Demand

SSEMI 2b. Describe the roles of buyers and sellers in

SSEMI 2c. Illustrate on a graph how supply and demand

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

SSEMI 3a. Identify and illustrate on a graph factors that cause

SSEMI 3b. Explain and illustrate on a graph how price floors

create surpluses and price ceilings create shortages.

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

SSEMI 4a. Compare and contrast three forms of business

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

SSEMI 4c. Identify the basic characteristics of monopoly,

Principle One. When given

learners are given various

For identification for

Objective 1A: The student

Objective 1B: The student

Principle Two. When

given multiple means of

For labeling the different

One short answer response

Learners have the abilities to

Given a certain good, student

Objective 4: Students will

Objective 4A: Student will

Objective 4B: Student will

Objective 4C: Student will

Students will have ability to

Within the short answer,

Principle One. When given

All students must complete

Principle Two. When

Students have to choose one

Students will have ability to

Lesson 3: Learners asked to

and Demand. Students will

Defines Law of Supply and

Identifies examples Law of

Objective 2: Students will

Objective 2A: Define Law

Objective 2B: Define the

Objective 2C: Students will

Principle One. When given

Initial Presentation offers