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Analyzing a Product Market

Key Learning Moment

Prioritize the Assessment Wrapper — Before and After (Slides 5–7 and 15–16)

The 30 minutes of writing time is the core of this lesson, but the learning that lasts happens in the Assessment Wrapper.

Protect 4 minutes before students write and 10 minutes when scored work is returned.

To access the full lesson plan that accompanies these slides, go to https://econiful.org/curriculum/unit-2-microeconomics

2.9 Most Important Things to Know

Content: A complete Proficient response must identify and describe the shift, explain a realistic cause using a relevant shifter, use shortage or surplus to explain the price change, and describe the new equilibrium price and quantity. An Advanced response additionally applies economic principles and explains how incentives shape the behavior of both consumers and producers. The optional template is scaffolding; not a mandatory structure.
Pedagogy: Assessment Wrapper is the metacognitive structure that prepares students for the end-of-unit assessment. When returning scored work, give students the full 8 minutes to compare their predicted score to their actual score, categorize their errors, and commit to at least 2 specific changes in preparation. Students who do this accurately tend to perform at a higher level on future summatives.

Pro Tip

Student completion time will vary. Consider having early finishers complete a quiet activity such as coloring pages, word-search, Sudoku, etc. so that all students have the same opportunity to focus in a quiet environment.

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Activator

Discuss with a partner:

What do you need to do for the assessment Analyzing a Product Market?

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Clear your desks of all materials other than lined paper and writing utensils.

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Learning Objective

You will be able to:

Analyze a product market.

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Agenda

Complete the Assessment Wrapper

Review the assessment and rubric

Assessment work time

Do your best

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If Students Are Feeling Anxious

Some students will begin to feel anxious as soon as you mention the word assessment. Take a moment to reinforce that this assessment is meant to gauge students’ current level of understanding and that there will be many more opportunities to build on their knowledge and demonstrate it throughout the semester. Remind students that this curriculum is designed with a “spiraling” technique so concepts will come back around again.

Reminders About Academic Integrity

This is also a good time to remind students of your expectations regarding academic integrity. Students typically engage in academic dishonesty when they feel overwhelmed so offering clear instructions, clarification, and reminders that assessments are just snapshots of student understanding in a particular moment will help dissuade some students from making poor choices.

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Assessment Wrapper

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Metacognition…

Is thinking about your own thinking.

Improves learning outcomes by helping you identify what skills/knowledge to strengthen.

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Assessment Wrapper

This is an opportunity for metacognition.

Complete the top half of the sheet.

Turn in Assessment Wrapper with your completed assessment.

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Optional Information About Assessment Wrappers

How to Use Wrappers

Assessment wrappers are designed to encourage students to reflect on their assessment preparation and performance. Students complete one portion of the wrapper before they attempt the assessment and complete the second portion when the scored assessment is returned. Assessment wrappers direct students to review their performance (and the instructor’s feedback) with an eye toward adapting their future learning.

Why Use Wrappers

Typically when students receive scored work, they focus exclusively on the score they earned. That singular focus causes most students to miss out on the larger learning opportunities that an assessment can provide such as

identifying their areas of strength and weakness to guide further study;
reflecting on the amount of time spent preparing and the effectiveness of their study strategies; and
characterizing the nature of their errors to find any patterns that could be addressed.

Carnegie Mellon University has more information about, and examples of, assessment wrappers.

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Assessment Overview

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What are you going to do?

Select one product market model.

Write a 2–3 paragraph analysis of your selected market.

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How will this be scored?

Reference the rubric throughout the assessment

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Questions/Clarifications?

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Individual Work Time

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Your tasks for the day …

Complete Analyze a Product Market

You may use the optional template to structure your analysis.

Reference the following resources as you work:

Instructions

Rubric

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Review the rubric and your work.

Submit your work and the assessment wrapper.

5 minute warning

ANALYZING A PRODUCT MARKET

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Returning Analyzing a Product Market

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Review your scored work.

Complete the bottom portion of Assessment Wrapper.

Your Task

ANALYZING A PRODUCT MARKET

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Let us know how it went.

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