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|Title/Topic: |Market Structures Music Video |

|Grade/Level: |12th grade |

|Related Content Standards/Objectives: | |

| |Strand: 5 |

| |Concept: 2 |

| |Performance Objective: a, c, & e; Describe the laws of supply and demand,|

| |explain how a market price is determined, and show how price ceilings and|

| |price floors cause shortages or surpluses. |

| | |

| | |

| |Strand: 5 |

| |Concept: 2 |

| |Performance Objective: f; Describe how markets function and the forces |

| |that impact supply and demand: comparison of monopolistic and competitive|

| |behaviors |

| | |

|Related Technology Standards/Objectives: |Strand: 1 |

| |Concept: 4 |

| |Performance Objective: 1; Create innovative products or projects using |

| |digital tools to express original ideas. |

| | |

| | |

| |Strand: 1 |

| |Concept: 4 |

| |Performance Objective: 2; Use digital collaborative tools to synthesize |

| |information, produce original works, and express ideas. |

| | |

| | |

| | |

|Instructional Activity: |Reintroduction of the different market structures. Will show several |

| |economic music video parodies. Power Point presentation will accompany |

| |this discussion. |

| |Many buyers and sellers participate in the market. No individual firm is |

| |powerful enough to buy or sell enough goods to influence market quantity |

| |or price.Sellers offer identical products. Also known as commodities, |

| |there are no differences between products sold by different suppliers. |

| |EX: corn or potatoes |

| |Buyers and sellers are well informed about products. They all know enough|

| |about the market to enable them to find the best deal. Search costs are |

| |the cost associated with searching for a good or service. Sellers are |

| |able to enter and exit the market freely. There are little to no barriers|

| |to entry in perfectly competitive firms. |

| |Startup costs: the expenses that a new business must pay before the first|

| |product reaches the customer. Growth of internet has reduced the |

| |start-up costs in many markets. Will introduce Monopolistic Competition |

| |and its characteristics: Many firms, slight differentiation in products, |

| |easy to enter and exit this market |

|Collaborative Assignment: |Monopolistically competitive firms have slight control over pricing: |

| |Loyal customers will pay a little more for differentiated product but if |

| |the price is too high they will replace them with substitutes from |

| |competitors. |

| |Oligopolies occur when there are two to four firms in a market who |

| |control 70% or more of that markets supply. Examples of oligopolies |

| |include the big 3 breakfast cereal companies, the soda market, and the |

| |candy bar market. |

| | |

| |Students will be separated into groups. Assignment for making econ video|

| |will be described. Examples will be shown of videos made by other |

| |students. A demonstration on how to construct a Youtube video will then |

| |be given. Each student already has a Google Id and will be instructed on|

| |how to enable videos to be seen by select groups only. |

| |Creating a community of learning: A rubric will be provided for each |

| |group. Each group will divide responsibilities between members. Three |

| |days of additional class time will be devoted to the assignment where |

| |students may shoot video with equipment from Mr. Kelly and the technology|

| |team. Students may also use this time to fine tune or edit video that |

| |they shoot outside of class on their own equipment. (Mills, 2006, 196) |

| |Cooperative Learning: the use of small groups to maximize individual and |

| |group learning by setting up a process that helps people interact to |

| |accomplish a specific goal or end product. (Mills, 2006, 158) |

| |Authentic Assessment: This assignment and its rubric allows evaluation |

| |of the student’s work that is a culmination of a set of learning tasks. |

| |(Mills, 2006, 31-32) |

|Support for Diverse Learners: |Discussion mixed with visual stimuli in the form of a Power Point |

| |Presentation. For the video activity each group will have multiple roles|

| |to fill that will allow individual students to align themselves with a |

| |role that will engage them in their own learning. Group responsibilities|

| |will be assigned according to skill level. Responsibilities consist of |

| |concept design, research, script writing, and video production. |

| |For English Language Learners: Prentice hall has provided Spanish |

| |editions of their vocabulary and text. Allowing English or Spanish |

| |versions of the unit information in the video. |

| |Generative Learning: By allowing students to create their own concept and|

| |write their own script, this project helps the students generate ideas by|

| |reorganizing facts and information from this unit into a different |

| |structure that will help them discover relationships among the terms and |

|Resources: |ideas and aid them in identifying and filling in gaps in their knowledge.|

| |(Mills, 2006, 31) |

| | |

| |Mr. Whetten’s youtube playlist “Econ Parodies” |

| |

| |9jntXSIzZ |

| |Youtube video creator: |

| |Matt Kelly and technology resource team from RMHS |

| |Prentice Hall Economic Text, Spanish Version of text, and Power Point |

| |Presentation |

| | |

| | |

| | |

| |Authur O'Sullivan, S. M. (2007). ECONOMICS: Principles in Action. Boston,|

|References: |MA: Prentice Hall. |

| |Mills, S. C. (2006). Using the Internet for Active Teaching and Learning.|

| |New Jersey: Pearson Education, Inc. |

| | |

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|Rubric for each Group |

| |

| |

|Student Name:     ________________________________________ |

| |

|CATEGORY |4 |3 |2 |1 |Score |

|Research |Note cards indicate that |Note cards indicate that |Note cards indicate that |There are fewer than |  |

| |the group members developed|the group members |the group members consulted|two notecards OR | |

| |questions about the |consulted at least 3 |at least 2 reference |sources are incorrectly| |

| |assigned topic, consulted |reference sources, |sources, developed a |cited. | |

| |at least 3 reference |developed a position based|position based on their | | |

| |sources, developed a |on their sources, and |sources, and correctly | | |

| |position based on their |correctly cited their |cited their sources. | | |

| |sources, and correctly |sources. | | | |

| |cited their sources. | | | | |

|Script |Script is complete and it |Script is mostly complete.|Script has a few major |There is no script. |  |

| |is clear what each actor |It is clear what each |flaws. It is not always |Actors are expected to | |

| |will say and do. Entries |actor will say and do. |clear what the actors are |invent what they say | |

| |and exits are scripted as |Script is shows planning. |to say and do. Script shows|and do as they go | |

| |are important movements. | |an attempt at planning, but|along. | |

| |Script is quite | |seems incomplete. | | |

| |professional. | | | | |

|Equipment |All necessary |All necessary |On the day of the shoot, |Needed |  |

|Preparation |equipment/supplies are |equipment/supplies are |all necessary |supplies/equipment are | |

| |located and scheduled well |located and scheduled a |equipment/supplies are |missing OR were not | |

| |in advance. All equipment |few days in advance. All |located and checked to |checked before the | |

| |(sound, light, video) is |equipment (sound, light, |ensure they are |shoot. | |

| |checked the day before the |video) are checked the day|operational. There may or | | |

| |shoot to ensure it is |before the shoot to ensure|may not be a backup plan. | | |

| |operational. A backup plan |they are operational. A | | | |

| |is developed to cover |backup plan is developed. | | | |

| |possible problems with | | | | |

| |power, light, etc. | | | | |

|Teamwork |Students meet and discuss |Students meet and discuss |A couple of team meetings |Meetings are not held |  |

| |regularly. All students |regularly. Most students |are held. Most students |AND/OR some team | |

| |contribute to the |contribute to the |contribute to the |members do not | |

| |discussion and all are |discussion and are |discussion and are listened|contribute a fair share| |

| |listened to respectfully. |listened to respectfully. |to respectfully. All team |of the work. | |

| |All team members contribute|All team members |members contribute a fair | | |

| |a fair share of the work. |contribute a fair share of|share of the work. | | |

| | |the work. | | | |

Date Created: September 23, 2013

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This Lesson Plan Template was adapted from the template provided by Dr. Stephen Mills in Using the Internet for Active Teaching and Learning (2006, p. 13-14) and TaskStream ().

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