Unit 5 Economics
In Unit 5 we take a break from traveling the world in
order to dig into the principles of economics! The majority of Unit 5 is spent
understanding supply and demand: laws of supply and demand, reasons for shifts
in supply and demand, effects of shifts in supply and demand, and how supply
and demand determine price. Students will learn these principles and skills
through a combination of close readings and then the practice of graphing these
concepts. For each new concept, the students should be provided with or provide
their own real world application. In the middle of the unit, each class will
participate in their own Banana Market Simulation to understand how supply and
demand determine price. As the unit progresses, students will apply their
understanding of supply and demand when listening to economic podcasts. Students
will listen to a real world example of shifts in supply and demand, graph these
changes, and then practice informative writing to explain these changes. Finally,
students will study a few more concepts related to personal finance, such as
GDP and taxes.
Unit 5 Summative: March 8th
