Lesson Plan

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Lesson Plan
Grade: Date: 25/02/2026
Subject: Economics
Lesson Topic: significance of relative percentage changes, the size and sign of the coefficient of price elasticity of supply
Learning Objective/s:
  • Describe the concept of price elasticity of supply and its formula using relative percentage changes.
  • Explain how the magnitude and sign of the elasticity coefficient indicate different supply responses.
  • Analyse the factors that influence the elasticity of supply and predict their effect on the coefficient.
  • Apply the elasticity formula to calculate and interpret elasticity in a numerical example.
  • Evaluate the relevance of elasticity in real‑world market scenarios.
Materials Needed:
  • Projector and screen
  • Whiteboard and markers
  • Printed worksheets with elasticity tables
  • Calculators
  • Graph paper
  • PowerPoint slides showing supply‑curve diagrams
  • Sticky notes for exit tickets
 Introduction:
Begin with a quick poll: “If the price of a product you sell doubles, how would your output change?” Connect this to prior learning on price elasticity of demand and state today’s success criteria – students will calculate elasticity, interpret its size and sign, and link influencing factors.
Lesson Structure:
  1. Do‑now (5’) – short quiz on percentage‑change calculations.
  2. Mini‑lecture (10’) – definition, formula, and why percentages are used.
  3. Interactive classification (12’) – groups match examples to elasticity ranges from the table.
  4. Guided practice (15’) – work through the wheat numerical example, calculate and interpret εₛ.
  5. Application discussion (8’) – analyse a case of negative supply elasticity; groups present reasoning.
  6. Formative check (5’) – quick exit‑ticket on one factor affecting elasticity.
Conclusion:
Recap the key ideas: percentage changes standardise elasticity, the coefficient’s magnitude and sign classify supply responses, and several market factors shift elasticity. Collect exit tickets asking students to state one factor that makes supply more elastic and why. For homework, complete a worksheet with two additional elasticity calculations.