Lesson Plan

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Lesson Plan
Grade: Date: 17/01/2026
Subject: Economics
Lesson Topic: Private sector/public sector firms
Learning Objective/s:
  • Describe the key characteristics of private‑sector and public‑sector firms.
  • Compare their objectives, funding sources and decision‑making processes.
  • Analyse how profit maximisation differs from socially‑oriented objectives.
  • Apply the MR = MC rule to a private firm and the weighted objective function to a public firm.
  • Evaluate the impact of competition and government policy on firm behaviour.
Materials Needed:
  • Projector and screen
  • Whiteboard and markers
  • Handout with comparison table
  • Calculator or spreadsheet software
  • Sample case studies (e.g., Tesco, NHS)
  • Sticky notes for group activity
 Introduction:
Begin with a quick poll: “Which companies do you think are owned by the government?” Use responses to link prior knowledge of firms to today’s focus on private vs public sector firms. Explain that by the end of the lesson students will be able to identify key differences and explain how each type makes decisions. Success criteria: accurate comparison chart and correct application of decision‑making formulas.
Lesson Structure:
  1. Do‑now (5’) – Students list examples of private and public firms on sticky notes and place them on the board.
  2. Mini‑lecture (10’) – Define firm, private‑sector and public‑sector firms; outline characteristics using slides.
  3. Guided comparison (12’) – Complete handout table comparing ownership, objectives, funding, decision‑making and competition; teacher checks understanding.
  4. Decision‑making activity (15’) – Small groups calculate profit maximisation for a private firm (using MR=MC) and set a weighted objective for a public firm; present findings.
  5. Whole‑class discussion (8’) – Discuss how market signals versus policy goals influence choices; link to real‑world examples.
  6. Exit ticket (5’) – Students write one key difference and one implication for consumers on a slip of paper.
Conclusion:
Summarise that private firms chase profit while public firms balance social goals, and both are shaped by their funding and competitive environment. Ask a few students to share their exit‑ticket points as a quick retrieval check. Assign homework to research a local firm and classify it as private or public, noting its main objectives.