Lesson Plan

• Describe the main reasons governments intervene in markets, with a focus on price controls.
• Explain how price ceilings and price floors shift supply and demand and create shortages or surpluses.
• Evaluate the advantages and disadvantages of the major price‑control instruments.
• Apply a set of criteria to judge when a price‑control policy is appropriate.

• Projector and screen
• Whiteboard and markers
• Handout summarising price‑control instruments
• Graph paper or digital graphing tool
• Sample data sets for price‑ceiling/floor calculations
• Exit‑ticket cards

Begin with a brief news clip about recent government price caps on energy to hook interest. Ask students what they already know about market equilibrium from the previous lesson. State that by the end of class they will be able to identify why governments intervene, illustrate the effects of price controls, and judge their effectiveness.

1. Do‑now (5'): Quick quiz on equilibrium price and quantity.
2. Mini‑lecture (10'): Reasons for government intervention and overview of price‑control instruments.
3. Diagram activity (15'): In pairs, draw supply‑demand graphs showing a price ceiling below equilibrium and a price floor above equilibrium; annotate shortages/surpluses.
4. Instrument comparison (10'): Small‑group work completing a table of purposes, outcomes, and unintended effects.
5. Evaluation debate (10'): Groups argue for or against a chosen instrument using the effectiveness criteria.
6. Check for understanding (5'): Kahoot quiz summarising key concepts.

Recap the four motivations for price controls and the trade‑offs of each instrument. Students complete an exit ticket stating one benefit and one drawback of a price ceiling. For homework, ask them to research a real‑world example of a price control (e.g., rent caps, agricultural subsidies) and prepare a short paragraph evaluating its success.