Lesson Plan

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Lesson Plan
Grade: Date: 17/01/2026
Subject: Economics
Lesson Topic: definition of market equilibrium and disequilibrium
Learning Objective/s:
  • Describe market equilibrium and disequilibrium using correct terminology.
  • Explain the conditions that create a surplus or a shortage.
  • Illustrate how price adjustments move a market toward equilibrium.
  • Interpret demand‑supply diagrams to identify equilibrium price and quantity.
  • Apply the concepts to real‑world scenarios such as commodity price changes.
Materials Needed:
  • Projector and screen
  • Whiteboard and markers
  • Printed worksheets with graph paper
  • Calculator for each student
  • Handout showing a demand‑supply diagram
  • Sticky notes for exit tickets
 Introduction:
Begin with a quick poll: “Why did the price of the latest smartphone drop after the first week?” Connect responses to students’ prior knowledge of demand and supply curves. State that today they will pinpoint the exact moment when the market “balances” and explore what happens when it does not. Success will be measured by their ability to define equilibrium, identify surplus/shortage, and explain the price‑adjustment mechanism.
Lesson Structure:
  1. Do‑Now (5 min): Short quiz on demand and supply definitions.
  2. Mini‑lecture (10 min): Define market equilibrium and disequilibrium; display the intersecting curves diagram.
  3. Guided practice (12 min): Students plot demand and supply curves for a chosen product and label the equilibrium point.
  4. Group activity (10 min): Analyse supplied scenarios (surplus vs. shortage) and predict the direction of price change.
  5. Check for understanding (8 min): Exit‑ticket on a sticky note – write the definition of disequilibrium and one real‑world example.
  6. Summary & recap (5 min): Teacher highlights key take‑aways and answers any lingering questions.
Conclusion:
Recap the definitions of equilibrium, surplus, and shortage, emphasizing the self‑regulating nature of markets. Collect exit tickets to gauge individual understanding and assign a worksheet where students must identify equilibrium conditions in three different markets for homework.