Lesson Plan: Understanding Tariffs
Subject: Economics
Grade Level: 9
Duration: 30 Minutes
Objective
By the end of this lesson, students will be able to:
- Define what tariffs are and explain their purpose.
- Discuss the effects of tariffs on domestic and international markets.
- Analyze real-world examples of tariffs and their implications.
Materials Needed
- Whiteboard and markers
- Projector (for visual aids)
- Handouts with definitions and examples of tariffs
- Access to current news articles on tariffs (printed or online)
Lesson Outline
Introduction to Tariffs (5 Minutes)
- Definition: Begin by defining tariffs as taxes imposed by a government on imported goods.
- Purpose: Explain that tariffs are used to protect domestic industries, generate revenue for the government, and influence trade balances.
Types of Tariffs (10 Minutes)
- Specific Tariffs: A fixed fee based on a specific measure (e.g., $20 per ton of steel).
- Ad Valorem Tariffs: A percentage of the value of the imported goods (e.g., 10% of the value of a car).
- Discuss Examples: Use examples such as tariffs on steel and aluminum to illustrate the two types and their purposes.
Effects of Tariffs (10 Minutes)
-
Domestic Impact:
- Beneficial for local producers as they face less competition.
- Potentially higher prices for consumers due to reduced competition.
-
International Impact:
- Possible trade disputes or retaliation from other countries.
- Effect on international relations and global supply chains.
Class Discussion (5 Minutes)
Engage students in a discussion:
- Ask students: “Can you think of any recent news about tariffs?”
- Encourage them to share their thoughts on how tariffs may affect both consumers and producers.
Assessment
Quick Quiz (5 Minutes)
Distribute a short quiz covering the key concepts discussed:
- What is a tariff?
- What are the two main types of tariffs?
- Name one positive and one negative effect of tariffs on the economy.
Conclusion
Wrap Up: Summarize the key points discussed during the lesson. Remind students that understanding tariffs is essential for comprehending broader economic and trade concepts.
Homework Assignment
Research a recent article relating to tariffs and write a one-page summary discussing its implications on trade. Include your opinion on whether you believe the tariffs discussed are beneficial or detrimental to the economy.
References