From Indiana Jones to UBer surge Pricing: A study in supply and demand
We have assembled a series of writing activities based on supply and demand. You can use one or you can use the three to create a more complex writing assignment.
Use the Econedlink Supply and Demand Interactive to introduce the concept of supply and demand. While they read, students should get in the habit of taking notes so they will have the evidence to use in their writing. In this lesson, there are four texts in the first writing activity. Students read an infographic, use a supply and demand interactive, and view two videos. Then they write about why supply and demand are important in the market economy. Then they participate in a second writing activity where they watch a clip from the Hudsucker Proxy and explain the law of demand for Hula Hoops as it manifests in the movie. Finally, they participate in an extension activity, where they read articles and discuss the problems, using their knowledge of supply and demand. Questions and prompts based on the LAFS are embedded in the lesson and also are found in the right hand column for easy access.
Use the Econedlink Supply and Demand Interactive to introduce the concept of supply and demand. While they read, students should get in the habit of taking notes so they will have the evidence to use in their writing. In this lesson, there are four texts in the first writing activity. Students read an infographic, use a supply and demand interactive, and view two videos. Then they write about why supply and demand are important in the market economy. Then they participate in a second writing activity where they watch a clip from the Hudsucker Proxy and explain the law of demand for Hula Hoops as it manifests in the movie. Finally, they participate in an extension activity, where they read articles and discuss the problems, using their knowledge of supply and demand. Questions and prompts based on the LAFS are embedded in the lesson and also are found in the right hand column for easy access.
TEXT 1: INFOGRAPHIC OF SUPPLY AND DEMAND
Click on the image below to view the entire supply and demand curve infographic. Here are more ideas on how to use the infographic. Use the following reading prompts to help students read the infographic and comprehend the disciplinary concepts of supply and demand. Before Reading, tell students: "Read closely to determine how the laws of supply and demand affect the price of chocolate. Take notes while you read so you can cite evidence from the text to support your conclusions (LAFS.1112.RH.1.1: Read Closely and Cite Evidence). During Reading, tell students to focus on the key disciplinary concepts of supply and demand: "How are supply and demand defined and described in the infographic?" (LAFS.1112.RH.2.4: Key Disciplinary Concepts and Academic Vocabulary) After Reading, ask students to summarize: "What is the central idea of Supply and Demand infographic? What are key details about the laws of supply and demand?(LAFS.1112.RH.1.2: Main idea, supporting details, summary). After Reading, have students answer the big question: "Using evidence from the text, explain how markets determine prices."(LAFS.1112.RH.1.3: Inferences based on evidence. "Record your answer in your notebook, using a combination of words and graphs. (LAFS.1112.WHST.1.2: Write informative or explanatory texts) TEXT 2: INTERACTIVE SUPPLY AND DEMAND CURVES
Use the supply and demand curve interactive to: "Discuss how changes in price affect supply and demand." (LAFS.1112.SL.1.1: Collaborative conversations) Then have students use digital writing to show understanding: "Take screen shots of the supply and demand curve interactive and use them to create a slide show or video that explains how changes in price affect supply and demand."(LAFS.1112.WHST.2.6: Digital writing). TEXT 3: ECONMOVIES WITH INDIANA JONES
LAFS.1112.RH.2.4: Key Disciplinary Concepts and Academic Vocabulary: “After viewing Econ Movies and Indiana Jones, discuss how supply and demand work in a market economy.” |
LAFS.1112.RH.1.1: Read Closely and Cite Evidence: Read closely to determine how the laws of supply and demand affect the price of chocolate. Cite evidence from the text to support your conclusions.
LAFS.1112.RH.1.2: Main idea, supporting details, summary: "What is the central idea of Supply and Demand infographic? What are key details about supply and demand that help explain how markets determine prices?’” LAFS.1112.RH.1.3: Inferences based on evidence: Using evidence from the text, explain how markets determine prices. LAFS.1112.RH.2.4: Key Disciplinary Concepts and Academic Vocabulary: "How are supply and demand defined and described in the infographic?" “After viewing Econ Movies and Indiana Jones, discuss how supply and demand work in a market economy.” "What is Uber Price Surging?" LAFS.1112.SL.1.3: Point of view, reasoning, evidence, biases, and tone: “What point of view do the authors of the articles have in terms of Uber Price Surging? Do they exhibit biases?” LAFS.1112.SL.1.2: Integrate multiple multimedia sources: "After viewing the different sources, explain why supply and demand are important.” LAFS.1112.SL.1.1: Collaborative conversations: “After viewing the We the Economy, Supply and Dance Man video, discuss why supply and demand are so important. Cite evidence from the text." "Discuss how changes in price affect supply and demand." LAFS.1112.SL.2.4: Present evidence clearly: “After discussing why supply and demand are important, present evidence from the video to support your reasoning." LAFS.1112.WHST.1.1: Write arguments: "Surge pricing or price gouging: what did Uber do? Use the concepts of supply and demand in your answer." LAFS.1112.WHST.1.2: Write informative or explanatory texts: "After reading and viewing the various sources, discuss why supply and demand are so important." "After viewing the Hudsucker Proxy video, describe the laws of supply and demand as they applied to hula hoops in the video clip." "Explain the UBER issue in terms of supply, demand, shortage, surplus, and illustrate how the curve will shift." "Why is bottled water so expensive? After watching the video Why is Bottled Water So Expensive, discuss the reasons why bottled water is so expensive. Use supply and demand in your explanation." LAFS.1112.WHST.2.4: Clear, coherent writing Write with organization and clarity. Use the writing organizers to plan your writing. LAFS.1112.WHST.2.5: Develop and strengthen writing by planning, editing, revising. Plan your writing in a graphic organizer. Then edit and revise your draft. Does it make sense? Did you check your spelling and grammar? Can you use better words and key disciplinary vocabulary? LAFS.1112.WHST.2.6: Digital writing, designing, and communication: "Take screen shots of the supply and demand curve interactive and use them to create a slide show or video that explains how changes in price affect supply and demand." Content Standards SS.912.E.1.4 Define supply, demand, quantity supplied,and quantity demanded; graphically illustrate situations that would cause changes in each, and demonstrate how the equilibrium price of a product is determined by the interaction of supply and demand in the market place. SS.912.E.1.8 Explain ways firms engage in price and nonprice competition. |
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TEXT 4: We the Economy: Supply and Dance Man
LAFS.1112.SL.1.1: Collaborative conversations: “After viewing the We the Economy, Supply and Dance Man video, discuss why supply and demand are so important. Cite evidence from the text. LAFS.1112.SL.2.4: Present evidence clearly: “After discussing why supply and demand are important, present evidence from the video to support your reasoning." |
WRITING ACTIVITY
Combine evidence from texts so far. Tell students: "After viewing the different sources, explain why supply and demand are important in the market economy. Write your answer, using examples from the different sources.” (LAFS.1112.SL.1.2: Integrate multiple multimedia sources; LAFS.1112.WHST.1.2: Write informative or explanatory texts)
Combine evidence from texts so far. Tell students: "After viewing the different sources, explain why supply and demand are important in the market economy. Write your answer, using examples from the different sources.” (LAFS.1112.SL.1.2: Integrate multiple multimedia sources; LAFS.1112.WHST.1.2: Write informative or explanatory texts)
EXTENSION ACTIVITIES FOR SUPPLY AND DEMAND
EXTENSION ACTIVITY 1: To Uber or not to Uber. . .
Engage students with these articles about Uber. Students identify supply and demand concepts and then debate about the real-world issues of surge pricing, price gouging, and surge manipulation.
1) Article 1: When a $65 Cab Ride Costs $192
Before reading, read the title. What do you think this article will be about? While students read, ask them to define Uber price surging and discuss what they think about Uber's actions in term of supply and demand. Illustrate how the supply curve will shift.
During reading: Tell students to find evidence to fully explain: "What is Uber Price Surging?"(LAFS.1112.RH.2.4: Key Disciplinary Concepts and Academic Vocabulary).
After reading: Ask: “What point of view does the author have in terms of Uber Price Surging?" (LAFS.1112.SL.1.3: Point of view, reasoning, evidence, biases, and tone).
Then tell the students to explain the UBER issue in terms of supply, demand, shortage, surplus, and illustrate how the curve will shift.
2) Article 2: Post-Sandy Price Gouging: Economically Sound, Ethically Dubious
Before reading, discuss the title. What does the author think about Uber raising its prices?
Explain how buyers and sellers interact in the marketplace.
During reading, ask: "What did Uber do? How did customers respond? How did Uber respond? What do you think about the actions?"
After reading, ask students to discuss: "After reading the two articles on Uber surge pricing, discuss whether you think what Uber did was fair. Use evidence from the text to support your claims." (LAFS.1112.SL.1.1: Collaborative conversations).
Now participate in a debate. Two sides: one side believes in surge pricing and the other side believes that Uber participated in price gouging. Students prepare their arguments and present evidence clearly, using citations from the texts and other sources (LAFS.1112.SL.2.4: Present evidence clearly)
After the debate, students can write their own argument: "Surge pricing or price gouging, what did Uber do? Use the concepts of supply and demand in your answer."
(LAFS.1112.WHST.1.1: Write arguments).
3) Article 3: Surge Manipulation: How do employer and employee practices affect the consumer?
Before reading, discuss the problems photos. What do you observe, what do you think, what questions do you have?
During reading, ask: "What did Uber do? How did the Uber drivers respond? How did this affect customers?"
After reading, students participate in a debate with a partner. One partner is Uber, the other is an Uber employee. They use evidence to argue their cases and create a short performance script.(LAFS.1112.SL.2.4: Present evidence clearly)(LAFS.1112.WHST.1.1: Write arguments).
4) Article 4: To Uber or Not to Uber: After reading all of the articles, debate: to Uber or not to Uber.
As an extension, students can create a compare and contrast argument from a producer/seller and consumer/buyer perspective. "What are the benefits for price surging? What are the costs of price surging? If you were an Uber driver, what would you argue? If you were a customer in an emergency situation, what would you argue? Compare and contrast the arguments from a producer/seller and consumer/buyer side"
Use Compare and Contrast Interactive and Compare and Contrast Printout to plan your writing.
EXTENSION ACTIVITY 2:
Why is bottled water so expensive? After watching the video Why is Bottled Water So Expensive, discuss the reasons why bottled water is so expensive. Use supply and demand in your explanation. (LAFS.1112.WHST.1.2: Write informative or explanatory texts)
Engage students with these articles about Uber. Students identify supply and demand concepts and then debate about the real-world issues of surge pricing, price gouging, and surge manipulation.
1) Article 1: When a $65 Cab Ride Costs $192
Before reading, read the title. What do you think this article will be about? While students read, ask them to define Uber price surging and discuss what they think about Uber's actions in term of supply and demand. Illustrate how the supply curve will shift.
During reading: Tell students to find evidence to fully explain: "What is Uber Price Surging?"(LAFS.1112.RH.2.4: Key Disciplinary Concepts and Academic Vocabulary).
After reading: Ask: “What point of view does the author have in terms of Uber Price Surging?" (LAFS.1112.SL.1.3: Point of view, reasoning, evidence, biases, and tone).
Then tell the students to explain the UBER issue in terms of supply, demand, shortage, surplus, and illustrate how the curve will shift.
2) Article 2: Post-Sandy Price Gouging: Economically Sound, Ethically Dubious
Before reading, discuss the title. What does the author think about Uber raising its prices?
Explain how buyers and sellers interact in the marketplace.
During reading, ask: "What did Uber do? How did customers respond? How did Uber respond? What do you think about the actions?"
After reading, ask students to discuss: "After reading the two articles on Uber surge pricing, discuss whether you think what Uber did was fair. Use evidence from the text to support your claims." (LAFS.1112.SL.1.1: Collaborative conversations).
Now participate in a debate. Two sides: one side believes in surge pricing and the other side believes that Uber participated in price gouging. Students prepare their arguments and present evidence clearly, using citations from the texts and other sources (LAFS.1112.SL.2.4: Present evidence clearly)
After the debate, students can write their own argument: "Surge pricing or price gouging, what did Uber do? Use the concepts of supply and demand in your answer."
(LAFS.1112.WHST.1.1: Write arguments).
3) Article 3: Surge Manipulation: How do employer and employee practices affect the consumer?
Before reading, discuss the problems photos. What do you observe, what do you think, what questions do you have?
During reading, ask: "What did Uber do? How did the Uber drivers respond? How did this affect customers?"
After reading, students participate in a debate with a partner. One partner is Uber, the other is an Uber employee. They use evidence to argue their cases and create a short performance script.(LAFS.1112.SL.2.4: Present evidence clearly)(LAFS.1112.WHST.1.1: Write arguments).
4) Article 4: To Uber or Not to Uber: After reading all of the articles, debate: to Uber or not to Uber.
As an extension, students can create a compare and contrast argument from a producer/seller and consumer/buyer perspective. "What are the benefits for price surging? What are the costs of price surging? If you were an Uber driver, what would you argue? If you were a customer in an emergency situation, what would you argue? Compare and contrast the arguments from a producer/seller and consumer/buyer side"
Use Compare and Contrast Interactive and Compare and Contrast Printout to plan your writing.
EXTENSION ACTIVITY 2:
Why is bottled water so expensive? After watching the video Why is Bottled Water So Expensive, discuss the reasons why bottled water is so expensive. Use supply and demand in your explanation. (LAFS.1112.WHST.1.2: Write informative or explanatory texts)
EXTENSION ACTIVITY 3:
"After viewing the Hudsucker Proxy video, describe the laws of supply and demand as they applied to hula hoops in the video clip." Watch this video clip and discuss supply and demand in terms of the hula hoops. (LAFS.1112.WHST.1.2: Write informative or explanatory texts). |
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