Lesson Plan

• Describe the short‑run inverse relationship between inflation and unemployment shown by the traditional Phillips curve.
• Explain how expectations, supply‑side shocks and productivity shifts move the Phillips curve.
• Analyse the policy implications of moving along or shifting the Phillips curve.
• Evaluate the limitations of the traditional Phillips curve using historical examples.

• Projector and screen for slides/diagram
• Whiteboard and markers
• Handout with Phillips‑curve diagram and shift table
• Calculator or spreadsheet for simple calculations
• Worksheet with data set for plotting a Phillips curve
• Sticky notes for exit tickets

Begin with a quick discussion: “What macro‑economic problems do we see together in the news?” Students recall inflation, unemployment and growth, linking them to the lesson’s success criteria – to explain the Phillips‑curve trade‑off, its shifts, and policy relevance.

1. Do‑now (5') – Students list macro problems and discuss how they interact on the board.
2. Mini‑lecture (10') – Present the traditional Phillips curve, its equation and interpretation using slides.
3. Guided practice (12') – In pairs, plot a Phillips curve from a supplied data set; teacher circulates to check understanding.
4. Conceptual extension (8') – Examine factors that shift the curve (expectations, supply shocks, productivity) and annotate the diagram.
5. Policy analysis activity (10') – Groups evaluate a stimulus or tightening scenario, predict movement on the curve, and share rationale.
6. Check for understanding (5') – Short quiz (Kahoot or hand‑out) with three targeted questions.
7. Exit ticket (5') – Students write one thing learned and one lingering question on a sticky note.

Summarise how the Phillips curve illustrates the short‑run inflation‑unemployment trade‑off and why shifts matter for policy. Collect exit tickets to gauge understanding, and assign homework: research a recent episode of stagflation and write a brief paragraph linking it to the Phillips‑curve framework.