Inflation Foundations

Overview

This lesson is the first of 20 in the unit “Understanding Inflation Dynamics”. Students build the core language for inflation by defining it clearly, distinguishing types (cost-push vs demand-pull; inflation vs disinflation/deflation), and using a brief historical example to connect concepts to real-world events.

Learning intentions

• WALT understand the meaning of inflation and related terms (disinflation and deflation).
• WALT identify and describe types of inflation using economic concepts.
• WALT use a simple timeline/perspective to explain how inflation can change over time.

Success criteria

• I can define inflation as a change in the general level of prices.
• I can distinguish between at least two types of inflation and give a brief cause description.
• I can explain the difference between inflation, disinflation, and deflation in my own words.

Curriculum links

• AS91222 — Analyse inflation using economic concepts and models: identifying/defining inflation concepts; using causes of inflation; explaining impacts on New Zealand groups (this lesson focuses on the concept foundation).
• Key competencies: thinking (cause-and-effect reasoning) and communicating (using economic vocabulary accurately).
• Social sciences learning focus: understanding how economic events affect people and society over time.

Lesson structure (75 minutes)

1. 0–8 min · Hook (Quickwrite + share). Teacher shows three short “price story” prompts (e.g., “bus fare went up”, “supermarket basics rose together”), then students quickwrite what might be happening and why. Students share in pairs; teacher records student wording on the board.

2. 8–20 min · Direct teach (Definitions clearly). Teacher introduces and models clear definitions: inflation, disinflation, deflation; emphasise “general level of prices” not one item. Students complete a fill-in “definition check” (short sentences) and underline key terms.

3. 20–35 min · Types of inflation (Visual sort). Teacher presents a simple concept map comparing cost-push vs demand-pull (using plain language and one example each). Students work in small groups to sort 8 scenario cards into “demand-pull” or “cost-push”, then justify using one sentence linked to the definition.

4. 35–48 min · Mini historical perspective (Timeline reading). Teacher reads a brief, NZ-appropriate style historical summary of an inflation period (kept factual and short), highlighting what changed and how people experienced it (e.g., wages vs prices, purchasing power). Students complete a “Cause → Prices → People” table for the example using sentence starters.

5. 48–60 min · Model-to-language practice (Student explanation). Teacher provides three short claim prompts (e.g., “When demand rises, inflation tends to…”). Students rewrite each as an economic explanation using correct vocabulary (inflation/disinflation/deflation + type).

6. 60–70 min · Formative check (Exit mini-quiz). Teacher runs a 5-question quiz (short answers, one scenario identification, one vocabulary distinction). Students answer independently; teacher collects for quick feedback.

7. 70–75 min · Whole-class reflection + preview. Teacher asks: “What single idea must be true for something to count as inflation?” and briefly previews the next lesson focus (economic drivers and indicators). Students do a one-sentence reflection on a sticky note.

Resources

• Scenario card set (demand-pull vs cost-push) printed
• Definition handout with blank lines for inflation/disinflation/deflation
• “Cause → Prices → People” table printable
• Timeline summary text (short, dyslexia-friendly font)
• Whiteboard/markers or digital equivalent
• Short quiz sheet + pen/pencil
• Optional: colour-coded sticky notes for vocabulary grouping

Assessment

• Formative: teacher observes scenario-sorting justifications and listens for correct use of vocabulary.
• Formative: definition check and “rewrite as an explanation” task marked with a simple checklist (key term accuracy).
• Summative-in-mini: exit mini-quiz to identify which students need reteach on definitions and types.

Differentiation

• Visual supports: colour-coded concept map and card sorting to reduce reliance on long reading.
• Sentence starters for all: “Inflation is…”, “This is demand-pull because…”, “People experience it through…”
• Reteach option: provide a teacher-led “definition ladder” (top rung = inflation definition; below = related terms).
• Extension scaffold for advanced learners during tasks: require students to add a second supporting reason (e.g., “also linked to…”), not just one classification.
• Dyslexia-friendly options:
• Provide a dyslexia-friendly reading version of the timeline summary (short lines, larger font, reduced text density).
• Offer an audio read-aloud of the historical summary while students follow with the text.
• Allow highlighted key words and graphic organisers rather than extended writing.

Extension (optional — advanced learners)

• Students choose one historical inflation event (local or global) and prepare a 1-page mini research sheet for Lesson 2:
• What happened to prices?
• What was the likely driver (cost-push or demand-pull, or both)?
• One impact on “everyday people” (using the “People” column).