Unit 2: Microeconomics
About Unit 2

New to our curriculum? Start here.
Check for upcoming or on-demand curriculum workshops.
Lessons build on one another and are designed to be used sequentially. If you plan to use one of the lessons in isolation, review the Overview documents (Unit 1 and Unit 2). To unlock all lessons you must log in as an Econiful member.
2.1 Coffee Market
Engaging in a coffee market simulation, students learn how buyer-seller interactions determine prices in a perfectly competitive market. Watch a short video tutorial.
"My students loved this lesson. They were reluctant to share their answers for the initial activator, but after participating in the coffee market, they came up with in-depth observation and made connections to real world markets." - Julie A., AZ
2.2 Law of Demand
Using data from the Coffee Market Simulation, students explore the law of demand and practice illustrating changes in quantity demanded.
"There is a lot of practice embedded throughout the lesson. I have also never taught law of demand and demand shifts separate. This seemed to help them grasp the concept that price changes don't change overall demand." - Sara H. Alabama
2.3 Introduction to Firms
Students operate a competitive hat firm to prepare for mastering the law of supply. Watch a short video tutorial.
"Students had fun, and all kinds of learning came up." Students responded "with engagement - seniors at 7:20 am, so that is huge." - Sue M., WA
2.5 Shifts in Demand
Students identify factors that increase or decrease demand and practice shifting the demand curve, explaining the resulting change in market equilibrium.
"The relevant, realistic examples of shifters of demand. So often examples are generic and can make it difficult for students to see the real-life relevance of the concepts." - Sharon S., WI
2.10 Introduction to Market Failure
Through a simulation on the tragedy of the commons, students explore market failure and the government's role in addressing it.
"Students definitely understood the tragedy of the commons following this lesson, and were discussing it well when answering questions throughout the class!" - Lianne, K., NJ
2.13 Market Structures
Introducing four market structures, students compare outcomes for consumers and firms in each structure.
"The lesson was a really helpful way to have students understand/apply the different types of market structures that exist. [Students] liked it - especially the sorting part" - Erica S., GA
2.17 Income Inequality
Using manipulatives and data analysis, students explore income distribution and government redistribution programs. Watch a short video tutorial.
2.19 Connections Across Units: Part 2
Continuing to link concepts from Units 1 and 2 to current economic issues, students prepare for the summative assessment.