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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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