Lesson Plan

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Lesson Plan
Grade: Date: 04/03/2026
Subject: Economics
Lesson Topic: price controls
Learning Objective/s:
  • Describe the purpose and types of price controls (ceilings and floors).
  • Explain the market outcomes of price ceilings and price floors, including shortages, surpluses, and dead‑weight loss.
  • Analyse the equity and efficiency trade‑offs of price controls using given criteria.
  • Evaluate real‑world case studies to determine when price controls are likely to be effective.
Materials Needed:
  • Projector or interactive whiteboard
  • Slide deck on price controls
  • Handout with supply‑demand diagrams
  • Case‑study worksheets (rent control, minimum wage, agricultural supports)
  • Whiteboard markers and chart paper
  • Calculator (optional)
 Introduction:
Begin with a quick poll: “What everyday items do you think the government should regulate?” Connect responses to prior lessons on market equilibrium, then outline today’s success criteria: students will identify how price ceilings and floors alter supply and demand, calculate resulting shortages or surpluses, and critique their effectiveness.
Lesson Structure:
  1. Do‑now (5’) – Students answer the poll question on sticky notes and share examples of price controls they’ve encountered.
  2. Mini‑lecture (10’) – Present definitions, types, and graphical representation of ceilings and floors using slides.
  3. Guided practice (12’) – Work through a numerical example of a price ceiling below equilibrium; calculate Qd, Qs, shortage and dead‑weight loss.
  4. Group analysis (15’) – In small groups, examine a case study (e.g., rent control) and complete a worksheet evaluating effectiveness against the four criteria.
  5. Whole‑class debrief (8’) – Groups present findings; teacher highlights common misconceptions and links back to equity vs efficiency.
  6. Exit ticket (5’) – Students write one sentence stating when a price ceiling is likely justified and one potential unintended consequence.
Conclusion:
Summarise that price controls can improve equity but often create inefficiencies such as shortages or surpluses. Ask students to complete an exit ticket describing one condition where a ceiling is appropriate and one possible unintended effect. Assign homework to research a recent government price intervention and prepare a brief critique for the next lesson.