Lesson Plan

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Lesson Plan
Grade: Date: 17/01/2026
Subject: Economics
Lesson Topic: Calculation of PES using the formula
Learning Objective/s:
  • Define price elasticity of supply and explain its economic significance.
  • Calculate PES using the percentage‑change formula.
  • Interpret PES values to classify supply as elastic, unit‑elastic or inelastic.
  • Identify the main factors that influence the elasticity of supply.
  • Apply the calculation to a real‑world example and communicate the result.
Materials Needed:
  • Projector or interactive whiteboard
  • Printed worksheet with price‑quantity tables
  • Scientific calculators (one per student)
  • Whiteboard and markers
  • Sample data set (e.g., wheat price and quantity)
 Introduction:
Begin with a quick poll: “When a product’s price rises, does the quantity supplied always increase by the same amount?” Connect this to previous learning on price elasticity of demand and explain that today students will quantify supply responsiveness and interpret the results.
Lesson Structure:
  1. Do‑now (5'): Students answer two revision questions on the definition of PES.
  2. Mini‑lecture (10'): Present the PES formula, derive the algebraic version, and illustrate on the board.
  3. Guided practice (12'): Work through the wheat example together, calculating %ΔQ, %ΔP and the PES.
  4. Independent activity (10'): Students use a worksheet to calculate PES for a new product and interpret the outcome.
  5. Concept check (8'): Quick quiz (clickers or show of hands) on classifying PES values and recalling influencing factors.
  6. Summary discussion (5'): Recap the calculation steps and link to real‑world factors.
Conclusion:
Recap the five‑step calculation process and how to read the PES result. Ask each student to write an exit ticket stating today’s PES value and its interpretation. For homework, assign a short problem set requiring PES calculations for different price‑quantity scenarios.