Economics Unit 3: Supply and Demand Part I: Activity 1: Student will watch Crash Course at the URL address Economics https://www.youtube.com/watch?t=48&v=g9aDizJpd_s Then students will define the chapter 3 terms of demand, placing them in your quizlet account. I will put the definitions up for students to type. (1 day) Activity 2: Video the lowdown on Demand from Economics Resource bookmark https://www.stlouisfed.org/education/economic-lowdown-video-series/episode-2-demand. Then follow along with your teacher as he discusses the chapter 3 ppt. on demand. Finally, do a practice round of graphing food on the board, in preparation for Perkins Family Restaurant in activity 5. (1 day) Activity 3: Project and talk about the chapter 3 daily quizzes on demand. (1 day) Activity 4: Khan Academy videos on The laws of Supply and Demand/ Market equilibrium. The links are found at Link #1 https://www.khanacademy.org/economics-finance-domain/microeconomics/supply- demand-equilibrium/market-equilibrium-tutorial/v/market-equilibrium and Link #2 https://www.khanacademy.org/economics-finance-domain/microeconomics/supply-demand- equilibrium/market-equilibrium-tutorial/v/changes-in-market-equilibrium Then students will define the chapter 4 terms of supply, placing them in your quizlet account. (1 day) Activity 5: Youtube video on Supply/Demand then complete your own graphing of Perkins Family Restaurant, be sure to highlight market equilibrium price, a shortage price, and a surplus price. (1 day) Activity 6: Engage group in the Unit 3 Student PPT Review, then students will take the Socrative Quiz on supply and demand. (1 day) Activity 7: Students will take the Unit 3 Test on Supply and Demand. (1 day)

Application of knowledge:

In groups of two or three create and market a fictional product (in economic terms these are known as widgets). Using the Internet peruse different styles of advertising. Choose the style that is best for your product. For our purposes you will not have to be concerned with zoning laws, local and state taxes, insurance or many of the other forms of overhead. However, you MUST be aware of and present invoices for building rent (according to avg. square footage), capital resources (tools), human resources (labor), and natural resources and/or any other supplies (ie.. fabric, electronics, wood, that fall into multiple areas).

Once all costs have been added up on a per month basis, develop an iMovie project that shows a real image or (photo shopped) image of your product. The iMovie should be in the style of a long 3-5 minutes commercial or a short 3-5 minute infomercial.

Part II on next page

Part II: Application Activity breakdown:

Activity 8: Each student will investigate at least 6 different styles of advertising. Use the following URL: http://www.cultbranding.com/52-types-of-marketing-strategies/ Write a brief description (in your words… do not copy and paste) of what each type is about include at least two positives and two negatives for each of the 6 styles you explore. Complete a 1-page assessment using either google documents or google spreadsheets. duration 1 day

Activity 9: Using Google Documents Templates each team should assemble invoices for the cost of their building rent and at least 5 other costs they will incur. Refer to the aforementioned costs above… duration 1 day

Activity 10: Each team will develop an iMovie project that shows a real image or (photo shopped) image of your product. The iMovie should be in the style of a long 3-5 minutes commercial or a short 3-5 minute infomercial. Regardless of what you choose, all team members must contribute, that may be in the form of acting, doing voiceovers, or creating the fictional product to be used in the video. It is highly recommended that groups put together some type of script for their commercial, before trying to film it. Class may view my imovie tutorials beforehand, to be sure each student has a workable knowledge of the imovie program. They are in my curriculum and technology folder. 2 videos 30 minutes total.(duration 3 days)

Activity 11: Presentations of Videos: duration 2 days

Duration of Unit 3: 12-14 days Concepts: a) Exchange b) Supply and Demand c) Value d) Consumers and Producers e) Decision Making