Lesson Plan

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Lesson Plan
Grade: Date: 18/01/2026
Subject: Economics
Lesson Topic: Definition of market equilibrium
Learning Objective/s:
  • Define market equilibrium and express it algebraically.
  • Explain how supply and demand interactions move the market toward equilibrium.
  • Identify characteristics of equilibrium such as stable price and efficient allocation.
  • Analyse how shifts in supply or demand affect equilibrium price and quantity.
  • Solve simple linear demand‑supply equations to calculate equilibrium price and quantity.
Materials Needed:
  • Whiteboard and markers
  • Projector with slides showing demand‑supply diagram
  • Printed worksheet with practice equations
  • Graph paper and rulers
  • Calculator (optional)
 Introduction:
Begin with a short video clip illustrating a crowded market and ask students what determines the price they pay. Link this to prior knowledge of demand and supply definitions. State that by the end of the lesson they will be able to describe and calculate market equilibrium and explain why it matters.
Lesson Structure:
  1. Do‑now (5'): Quick quiz on demand vs. supply definitions.
  2. Mini‑lecture (10'): Introduce market equilibrium, show the standard diagram, and write the equation Qd=Qs.
  3. Guided practice (12'): Walk through the example calculation (Pe=£20, Qe=80) on the board.
  4. Group activity (15'): Students plot demand and supply curves on graph paper, locate the equilibrium point, and discuss surplus/shortage scenarios.
  5. Concept check (8'): Exit ticket – write a one‑sentence definition of equilibrium and compute equilibrium for a new set of linear equations.
  6. Summary & homework (5'): Recap key ideas and assign the worksheet for additional practice.
Conclusion:
Review the definition of equilibrium and the characteristics of a stable market. Collect exit tickets to gauge understanding and address any lingering misconceptions. For homework, students complete the worksheet that requires drawing diagrams and solving equilibrium calculations.