Lesson Plan

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Lesson Plan
Grade: Date: 17/01/2026
Subject: Economics
Lesson Topic: expectations-augmented Phillips curve (short- and long-run Phillips curve)
Learning Objective/s:
  • Describe the short‑run and long‑run expectations‑augmented Phillips curves and their equations.
  • Explain how inflation expectations shift the short‑run Phillips curve.
  • Analyze the policy implications of the inflation‑unemployment trade‑off.
  • Compare the characteristics of the SRPC and LRPC.
  • Apply the Phillips‑curve framework to evaluate monetary and supply‑side policies.
Materials Needed:
  • Projector and screen for slides/diagrams
  • Whiteboard and markers
  • Printed handout with Phillips‑curve diagrams
  • Graphing calculator or spreadsheet software
  • Worksheet with short‑answer and data‑analysis questions
  • Sticky notes for exit ticket
 Introduction:
Begin with a quick poll: “If inflation fell but unemployment rose last month, what might have happened to expectations?” Connect to prior learning on aggregate demand and inflation. State that by the end of the lesson students will be able to identify and explain both the short‑run and long‑run Phillips curves and their policy relevance.
Lesson Structure:
  1. Do‑now (5’) – Students answer the poll question on sticky notes; teacher collects responses.
  2. Mini‑lecture (10’) – Review macro objectives and introduce the expectations‑augmented Phillips curve; derive the SRPC equation.
  3. Diagram activity (10’) – In pairs, label blank SRPC and LRPC diagrams, indicating shifts caused by expectation changes.
  4. Guided practice (10’) – Work through an adaptive‑expectations example on the board, calculating new inflation.
  5. Policy debate (10’) – Groups discuss one of the four policy implications and present brief arguments.
  6. Check for understanding (5’) – Quick quiz (Kahoot/exit ticket) with two conceptual questions.
Conclusion:
Recap that the SRPC shows a temporary trade‑off while the LRPC is vertical, highlighting the role of expectations. Ask students to write one real‑world example of a policy that exploits the short‑run trade‑off as an exit ticket. Homework: complete the worksheet analysing a recent central‑bank announcement using the Phillips‑curve framework.