Economics Lesson Plan

Economics Lesson Plan


Economics Lesson Plan


Note - Before reading the article on How to make an economics lesson plan? , you should have a look at the format for making a lesson plan in your worksheets. The format of making an economic lesson plan should be like this or you may change the format according to your needs and requirements.

Teaching Points Teacher/Trainee Teacher activity Student’s activity Black-Board Work


Lesson Plan Economics on Balance of Payment (BOP)





Note: The Economics Lesson Plan given below is just an example. You can change the Name, Class, Course, Date, Duration, etc. according to your needs.

  • Teacher / Trainee Teacher name – (Here the name of the teacher should be written)
  • Class/grade – 9th, 10th,11th, and 12th
  • Subject – Economics ( Business Economics)
  • Duration of the period – 40 to 60 minute
  • The average age of the students – 16 years
  • Topic – Balance of Payment (BOP)

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Content Analysis –
  • Meaning of balance of payment
  • Causes of an unfavorable balance of payment
General aims –
  1. To develop an interest in economics among students
  2. To develop a positive attitude towards economics
  3. To develop creativity in economics
  4. To develop thinking, reasoning related to the balance of payment
Instructional objectives –
  1. Students will be able to define the balance of payment
  2. Students will be able to list the causes of an unfavorable balance of payments
  3. Students will be able to describe the meaning of balance of payment
  4. Students will be able to explain the causes of an unfavorable balance of payment
  5. Students will be able to find the meaning of the balance of payment.
  6. Students will be able to find the causes of an unfavorable balance of payments.
Teaching Aids used –
  • General teaching aids – Chalk, blackboard, duster, pointer, etc.
  • Instructional teaching aids – chart showing causes of unfavorable BOP
Previous knowledge assumed – It is assumed by the teacher/trainee teacher before entering the classroom that pupils have some knowledge about BOP.

Previous knowledge testing –



Teacher / Trainee Teacher activity Student Activity
What do you call the amount paid for buying goods? Payment
What do you call when the shopkeeper gives a bill for purchasing goods? Receipt bill
What do you call the statement of receipts and payment with other countries of the world No response

The announcement of the Topic –

Finding students unable to answer the last question, the teacher or trainee teacher will announce the topic by saying, “Well Students”, Today we shall study the balance of payment.

Presentation –

By using the chart and inductive-deductive method of teaching, the teacher or trainee teacher will develop the lesson plan



Teaching point Teacher/pupil-teacher activity Student’s activity Chalkboard work
meaning of balance of payment The teacher will explain the meaning of the balance of payment while moving in the classroom.

The balance of payments, also called the balance of international payments ( B.O.P. or BoP), of a country is the record of all economic transactions between the residents of the country and the rest of the world in a particular period of time (over a quarter of a year or more commonly over a year)

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Students will listen carefully write in their notebooks Accounts of all receipts and payments with other countries
causes of an unfavorable balance of payment The teacher will explain the causes of an unfavorable balance of payment while showing the chart

Causes of an unfavorable balance of payment are –


  • Import of machinery
  • Import of war equipment
  • price disequilibrium
  • Foreign competition
  • More demand for consumption of goods
students will listen carefully Causes of an unfavorable balance of payment

1. Import of machinery
2. Import of war equipment
3. price disequilibrium
4. Foreign competition
5. More demand for consumption of goods
Import of machinery The teacher will explain the import of machinery while moving into the class,

“During World War II and during 5-year plans, machinery was imported which are being costly.

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students will listen carefully




Import of war equipment The teacher will ask the student, “What do you mean by war equipment”?

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Which are needed in war are called war equipment

Good, In order to defend the country, India had to import ware equipment

price disequilibrium teacher/trainee teacher will explain to the students about price disequilibrium while moving in the classroom Students will listen carefully and write down in their notebooks.
Foreign competition The teacher will ask the students, “What do you mean by foreign competition?”

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no response
Now the teacher states that

“India mainly exports tea and textiles but now foreign competition in these goods is growing. The teacher will ask the students which country is India’s competitor in Jute Export?

Bangladesh

Good! , “Bangladesh is India’s competitor in Jute export”

more demand for consumption of goods The teacher or trainee teacher will ask the students, “What are the consumption goods”?


TEA, oil, seeds

These are called consumption goods because due to an increase in population, their demand within the country has gone up. So the export of these goods has stored in warehouses.




Generalization –

It is generalized by the teacher that all the students have acquired the knowledge about the causes of an unfavorable balance of payment.

Recapitulation –

In order to recapitulate the students, pupil-teacher will ask the following questions:
  • What do you mean by the balance of payment?
  • What are the causes of an unfavorable balance of payment?
Home Work –
  1. What do you mean by the balance of payment?
  2. What are the causes of an unfavorable balance of payment?
  3. What do you mean by Price disequilibrium?
Context – Business Economics – Class 9, 10, 11, and 12


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  1. Provide the lesson plan of economics for class 10

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  2. Quite helpful for getting basic idea for preparing lesson plan on Economics.highly obliged.

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