Lesson Title: Understanding the Nature of Economics

Grade Level: Senior High School (Grade 11-12)

Subject: Applied Economics as Social Science

Module: Module 1 - Understanding Economics

Duration: 60 minutes

Learning Objectives:

1. Understand the nature and scope of economics.

2. Recognize the basic economic concepts and principles.
3. Analyze how scarcity and choice affect decision-making.

Materials Needed:

1. Module 1 - Understanding Economics (Senior High School)

2. Whiteboard and markers
3. Projector and screen
4. Handouts of key concepts and principles

Procedure:

1. Anticipatory Set (5 minutes):

 Begin the lesson by asking students to brainstorm what they think economics is about. Write down
their responses on the whiteboard.
 Show a short video clip or infographic highlighting the importance of economics in everyday life.

2. Acquisition (20 minutes):

 Present an overview of Module 1: Understanding Economics from the Senior High School
curriculum.
 Discuss the nature and scope of economics, emphasizing its role in studying how societies manage
their limited resources to satisfy their needs and wants.
 Introduce key economic concepts such as scarcity, opportunity cost, supply and demand, and
economic systems.
 Use real-life examples to illustrate these concepts and engage students in discussions.

3. Application (20 minutes):

 Divide the class into small groups and provide each group with a scenario related to scarcity and
choice.
 Instruct the groups to analyze the scenario, identify the limited resources, and discuss the trade-
offs involved in decision-making.
 Circulate among the groups to provide guidance and facilitate discussions.
 Afterward, ask each group to present their analysis and conclusions to the class.

4. Assessment (15 minutes):

 Distribute a short quiz or worksheet covering the key concepts discussed in the lesson.
 Review the answers as a class and address any misconceptions or questions.
 Conclude the lesson by summarizing the main points and highlighting the relevance of
understanding economics in making informed decisions.

Closure:

 Recap the main concepts learned in the lesson and emphasize their significance in understanding
economic behavior and decision-making.
 Encourage students to explore real-world examples of economic principles in action and to think
critically about the choices they make in their daily lives.

Extension Activities:

 Assign additional readings or research projects on specific topics covered in the lesson.
 Organize a debate or simulation activity where students take on different roles in an economic
scenario and make decisions based on their assigned perspectives.
 Encourage students to apply economic principles to analyze current events or issues in the
Philippines or globally.
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