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Ch 5: Market Structures in Economics Lesson Plans

About This Chapter

The Market Structures in Economics chapter of this course is designed to help you plan and teach resource allocation and competition in various economic systems in your classroom. The video lessons, quizzes and transcripts can easily be adapted to provide your lesson plans with engaging and dynamic educational content. Make planning your course easier by using our syllabus as a guide.

Weekly Syllabus

Below is a sample breakdown of the Market Structures in Economics chapter into a 5-day school week. Based on the pace of your course, you may need to adapt the lesson plan to fit your needs.

Day Topics Key Terms and Concepts Covered
Monday Perfect competition Requirements for perfectly competitive markets, the 'invisible hand,' market equilibrium
Tuesday Monopolies and oligopolies Characteristics of true monopolies, examples of regional monopolies, effects of monopolistic and oligopolistic competition on producers and consumers
Wednesday Major economic powers Capitalist and socialist economic systems, the GDP of the world's five largest economies
Thursday Command systems Characteristics of command economic systems, incentive and coordination problems, moral hazard, adverse selection
Friday Game theory The prisoner's dilemma, the Nash Equilibrium, applications of game theory in economics

8 Lessons in Chapter 5: Market Structures in Economics Lesson Plans
Test your knowledge with a 30-question chapter practice test
Perfect Competition in Economics & Adam Smith's 'Invisible Hand'

1. Perfect Competition in Economics & Adam Smith's 'Invisible Hand'

In this lesson, you'll learn how consumers and producers interact in a perfectly competitive economic system. You'll also be introduced to how Adam's Smith concept of an 'invisible hand' can help keep such systems in line.

What is a Monopoly in Economics? - Definition & Impact on Consumers

2. What is a Monopoly in Economics? - Definition & Impact on Consumers

In this lesson, you will learn about monopolistic markets and what a monopoly means for producers and consumers. After this lesson, you will understand why the name of one of our all-time favorite board games really makes perfect sense.

Understanding Monopolistic Competition in Economics

3. Understanding Monopolistic Competition in Economics

In this lesson, we'll learn about monopolistic competition. This type of competition can be found in a free market where products are differentiated, but not so differentiated that any single firm has the power to influence market prices.

What is an Oligopoly? - Definition & Impact on Consumers

4. What is an Oligopoly? - Definition & Impact on Consumers

In this lesson, we will discuss a market structure that is actually quite common in the United States, as well as most other industrialized countries: oligopolies. Oligopolies are the market structures that sit somewhere between a monopoly and perfect competition. In this lesson, we will find out how.

An Overview of Major Economic Powers of the World

5. An Overview of Major Economic Powers of the World

There are 196 countries in the world, meaning there are nearly as many economic systems. While the narrative is often 'capitalism or socialism,' in this lesson we'll learn about how many of the world's largest countries are really somewhere in the middle.

Understanding a Command System in Economics

6. Understanding a Command System in Economics

In this lesson, we'll discuss a command system: one of the often tried, but mostly failed, economic systems of the last century. Because it requires an individual or group to make decisions based on who makes what, there are important challenges of a command system.

What is Game Theory? - Explanation & Application in Economics

7. What is Game Theory? - Explanation & Application in Economics

Economics is just as much about consumer and producer behavior as it is about finance or the allocation of resources. With that in mind, this lesson will explain one of the most fundamental tools economists use to frame competitive decision making.

Nash Equilibrium & Game Theory

8. Nash Equilibrium & Game Theory

The 2001 movie, 'A Beautiful Mind,' told the story of John Nash, a Nobel Prize-winning economist who theorized the Nash equilibrium. In this lesson, we'll learn about Nash equilibrium by studying game theory.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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