Elasticity Explored

This activity is designed to assess how you have thought about teaching and what you understand in breaking down topics to support student understanding and achievement.

2. 3. Select a topic area from the AQA A-Level Economics specification – see specification links below. A-Level Economics: AS and A-level Economics Specifications for first teaching in 2015 Design a sequence of activities and resources that set out how you would teach the topic to Year 12 (age 16/17) in a 1-hour lesson. This should include the aims and objectives of the session, the sequence of content and the activities the teacher and students will do. You should explain and justify both the teaching and learning approaches you will use as well as the range of assessment techniques at different points of the one hour lesson.

Overview

This 60-minute session introduces Year 12 AQA A-Level Economics students (age 16-17) to the concept of price elasticity of demand (PED), a foundational topic within microeconomics (AQA specification: Theme 1, Section 1.2.2). The lesson is designed to develop students’ understanding, application, and analytical skills, aligned with the national curriculum's emphasis on economic knowledge, critical thinking, and mathematical skills.

National Curriculum Alignment

AQA A-Level Economics specification (2015): Theme 1 - Introduction to markets and market failure
Learning objective code: 1.2.2 - Price elasticity of demand and cross elasticity of demand
Key competences addressed:
- Mathematical and graphical analysis of economic concepts
- Application of economic theory to real-world contexts
- Critical evaluation of economic impacts

Aims

By the end of this lesson, students will be able to:

Define price elasticity of demand and understand its formula
Calculate PED using data and interpret its numerical value
Analyse factors affecting PED with real-world examples
Assess implications of PED for business pricing strategies and government policy

Learning Objectives

AO1: Recall the concept and formula of price elasticity of demand
AO2: Calculate PED from given data accurately
AO3: Analyse how elasticity varies across different goods and markets
AO4: Evaluate impacts of elasticity on revenue and policy decisions

Resources Needed

Whiteboard and markers
Projector for slides and video clip
Handouts with data tables for PED calculation activity
Mini-whiteboards or notebooks for individual responses
Interactive quiz tool (e.g. Kahoot or Socrative)
Real-life goods’ price/quantity datasets (printed)
Sticky notes for exit ticket

Lesson Structure

1. Introduction & Starter (10 minutes)

Activity: Think-Pair-Share

Pose an engaging question: “If the price of chocolate doubles, will people buy less? How much less?”
Students think individually for 1 minute then discuss with a partner for 3 minutes.
Selected pairs share ideas with the class; teacher summarises the concept of responsiveness to price changes.

Justification: Activates prior knowledge and promotes spoken communication skills, critical for economic reasoning (National Curriculum emphasis on dialogic teaching).

2. Core Content Input (15 minutes)

Teaching Approach: Interactive direct instruction with visual aids

Define PED verbally and write the formula on the board:
[ PED = \frac{% \text{change in quantity demanded}}{% \text{change in price}} ]
Use a short animated video demonstrating PED with real market examples (e.g., petrol vs. luxury watches).
Graphically illustrate elastic, inelastic, and unitary demand curves with annotations.
Discuss determinants of PED (necessity vs luxury, availability of substitutes, time period).

Justification: Multimodal delivery ensures accessibility of abstract content for all learners, matching the Curriculum’s call for varied teaching styles.

3. Guided Practice – Calculation Activity (15 minutes)

Activity: Paired work on calculating PED

Distribute handouts with realistic data: original and new prices and quantities for different goods.
Pairs calculate PED for 3 goods—some elastic, some inelastic. Teacher circulates to support and address misconceptions.
Use mini-whiteboards to display answers; class discusses and confirms interpretations.

Assessment: Formative through observation and immediate feedback ensures mastery of mathematical skills important for the specification.

4. Application and Analysis (10 minutes)

Activity: Case study discussion and mini debate

Present two contrasting scenarios:
1. A supermarket reducing price of bread (inelastic demand)
2. A tech company lowering price of new gadgets (elastic demand)
In groups of 4, students discuss revenue implications and recommend pricing strategies using PED concepts.
One group per scenario briefly presents their conclusions.

Justification: Encourages critical thinking, application to real-world contexts, and develops verbal communication and evaluation skills.

5. Plenary and Assessment (10 minutes)

Tasks:

Quick-fire quiz (using interactive app) covering definitions, calculation, and conceptual understanding.
Exit ticket: On a sticky note, write one factor influencing PED and one real-life example. Post on board before leaving.

Assessment:

Formative through quiz results and exit tickets to gauge individual progress and identify areas for reteaching.

Differentiation

Support: Scaffold formula sheet and worked example for weaker students during calculations.
Stretch: Provide advanced extension questions on cross-price elasticity for fast finishers.

Homework / Extension

Research and bring an example of a recent news item where price changes influenced consumer demand significantly. Prepare a short explanation linking it to PED for next lesson.

Reflection

This lesson strategically mixes direct instruction, student-centred activities, and technology-enhanced assessment to ensure deep conceptual understanding and engagement. The use of real data and debates enhances relevance and motivates students to think economically like future analysts or policymakers. Through varied formative assessments, learning is continuously checked and tailored, aligning fully with the expectations of the National Curriculum and A-Level standards.

Teaching Instructions