LEAVING CERTIFICATE ECONOMICS MICRO TOPIC 11 (d): MARKET STRUCTURES - IMPERFECT COMPETITION WEEK: Differentiated AfL & skills can be fostered through differentiated content, activities & Expected Learning Outcomes methodologies Revision General Literacy Numeracy The students will be able to do the following: & Comprehension, writing, Language, oral language strategies estimation, problem AoL solving strategies Explain, with examples, the theory of imperfect Book page KWHL Drawing diagrams Revision resources competition Workbook page Labeling diagrams Describe the assumptions underlying imperfect Worksheet no Interpreting Class tests competition diagrams Illustrate and explain the firm’s demand curves Powerpoints Collated SEC Describe the equilibrium for an imperfectly Imperfect competition Q & A using Bloom’s exams & schemes competitive firm in the short run prompts Show-me board to Define and illustrate supernormal profits practice drawing Discuss why new firms may enter the industry Think-pair-share diagrams & AfL Analyse the effects on equilibrium of new STUDYCLIX HL entrants Describe, with the aid of a diagram, the STUDYCLIX OL equilibrium for an imperfectly competitive firm in the long run Illustrate and explain profit-maximising Market structures grid output/price for revision Analyse perfect competition as a market form from the point of view of consumers, producers and the use of scarce resources
LEAVING CERTIFICATE ECONOMICS MICRO TOPIC 11 (d): MARKET STRUCTURES - IMPERFECT COMPETITION WEEK: Differentiated Expected Learning Outcomes The students will be able to do the following: AfL & skills can be fostered through differentiated content, activities & methodologies General Literacy Comprehension, writing, oral language strategies Numeracy Language, estimation, problem solving strategies Revision & AoL Explain, with examples, the theory of imperfect competition Describe the assumptions underlying imperfect competition Illustrate and explain the firm’s demand curves Describe the equilibrium for an imperfectly competitive firm in the short run Define and illustrate supernormal profits Discuss why new firms may enter the industry Analyse the effects on equilibrium of new entrants Describe, with the aid of a diagram, the equilibrium for an imperfectly competitive firm in the long run Illustrate and explain profit-maximising output/price Analyse perfect competition as a market form from the point of view of consumers, producers and the use of scarce resources Book page Workbook page Worksheet no Powerpoints Imperfect competition KWHL Q & A using Bloom’s prompts Think-pair-share Drawing diagrams Labeling diagrams Interpreting diagrams Show-me board to practice drawing diagrams & AfL Revision resources Class tests Collated SEC exams & schemes STUDYCLIX HL STUDYCLIX OL Market structures grid for revision