UbD Template 2.
0 Econ Mini-Unit 7th Grade Social Studies
ESTABLISHED GOALS
Define the concepts of supply and
demand (3.1.a)
Identify factors that shift supply and
demand (3.1.b)
Define and identify things that affect
price (3.1.c)
Identify how consumers determine
what is produced in a market
economy (3.1.d)
Explain profit and how it works in a
market economy (3.1.e)
Demonstrate how supply and
demand result in an equilibrium price
and quantity (3.1.f)
Recognize how resources and
manufacturing are connected via
relevant examples (3.2.a)
Identify how trade patterns are a
result of the distribution of resources
(3.2.b)
Stage 1 Desired Results
Transfer
Students will be able to independently use their learning to
Explain why goods have specific values in different types of economies.
Interpret basic market forces and how they affect the life of the average
consumer.
Analyze why culture and economics are deeply interconnected because of
scarcity and tastes.
Meaning
UNDERSTANDINGS ESSENTIAL QUESTIONS
Students will understand that How do I determine what I need
Economic principles are a product of versus want and how does this
peoples tastes. influence the price of goods in a
Supply and demand are universal market economy?
concepts used in western societies to What happens when the resources
address peoples wants and needs. are spread inequitably around earth?
Economics is the study of scarce How did market economies emerge
resources. during the middle ages?
What is money and how has this
concept evolved over time?
How does understanding supply and
demand allow me to better interpret
the world around me?
Acquisition
Students will know Students will be skilled at
The definition for supply and Manipulating supply and demand
demand. curves to identify the equilibrium
Reasons for shifts in these curves. price and quantity for a good.
Why global trade is important and Calculating profit using basic
how people address the issue of mathematical equations.
scarce resources. Identifying evidence in support of
How sellers respond to consumers why equilibrium prices and

Analyze supply and demand to
explain how scarce resources and
goods are allocated by price (3.2.d)
Evaluative Criteria
correct calculations
Accurate evidence
Developed definitions
Relevant connections
Strong analysis
Skill development growth
demand in market economies to quantities change.
set the appropriate price for a Describing the connection
good. between resources, trade, and
The difference between a prices.
traditional economy and a market applying economic vocabulary to
economy. the world around them.
Stage 2 - Evidence
Assessment Evidence
PERFORMANCE TASK(S):
Students will demonstrate understanding of the basic concepts of
economics.
Student will take a written assessment at the end of the unit which will ask
them to define important vocabulary and concepts consistent with the
standards. This will also be accompanied by a case study where students
identify: the economic system, what is the original equilibrium for the good,
why demand will change, why supply will change, what the new equilibrium
price and quantity, and the profit at the end of this shift.
Students will be able to opt out of the written assignment and use
speech to text software to complete a similar assessment if they have
this accommodation listed in their IEP or 504.
The vocabulary/concept assessment may consist of mix and match
definitions, or a fill in the blank section complete with a word bank.
The case study may be formatted to include multiple choice and short
answer questions.
OTHER EVIDENCE:
Mini case study on a traditional economy completed in small groups
Station activity on supply and demand
Supply and demand game to be completed as a large group with
discussion
Profit worksheet to acclimate students to the math involved in economics
 Stage 3 Learning Plan
Summary of Key Learning Events and Instruction
This is a six lesson unit plus assessment. The breakdown of these lessons is as follows:
Supply and Demand 1:
o This lesson will cover the basics definitions of supply and demand. Class will begin with a textbook reading
accompanied by journal questions. We will cover how supply and demand shifts and then play an online
game that asks students to apply these concepts. We will spend time addressing correct and incorrect
answers as a group.
Supply and Demand 2:
o The second lesson will refresh the concepts of supply and demand. Students will work on station activities
where they read real world news articles and analyze the story to see how supply and demand would
change and why based on the information contained within.
Money, Profit, Revenue 1:
o This lesson will start with a vocabulary lesson where students become familiar with these economic
concepts by writing personalized definitions. They will listen to a podcast with an accompanying graphic
organizer to catch their notes. We will discuss this podcast in small groups before having a large group
discussion.
Money, Profit, Revenue 2:
o The beginning of this lesson will be a mini-lesson on math in economics. Several I DO, WE DO examples
will be done as a class to familiarize students with the process before they are released to work through a
worksheet about calculating profits.
 Markets 1:
o Students will work complete a reading with discussion questions they will jot down answers to in their
journal. We will have a class discussion about the content and students will work to construct models of a
traditional and a market economy as a group. The second half of this lesson will consist of a podcast
activity where students listen to a lecture on what it means to have a market economy.
Markets 2:
o A brief refresher of the two types of economies will be done at the beginning of class where students will
help the teacher to better understand what each economy is like. As a class, we will read over the case
study students will be examining and then go over the expectations. By the end of class the group should
have all the parts completed with a brief explanation of how they came up with their answers.
Assessment:
o Vocab Quiz plus Case Study