Economics – 11/18/14

I. Bellwork  Q&A

If a new bridge to Canada is built:

• Provide and explain an example of a negative externality.
• Provide and explain an example of a positive externality.

II.  Objective

• Identify the purpose of legislation which constrains the functions of  business structures.
• Examine and explain the role of the government  and legislation in correcting market failures.
• Determine central ideas of a text and analyze their development over the course of the text, including how they interact and build on one another to provide a complex analysis;

III.  Notebook Work/Discussion (ALL OF THESE ARE ON THE QUIZ)

• Pg. 186 – Copy Figure 7.3  
• Pg. 191 – Copy Roles of Government-Map & (Discuss each role)
• Pg. 187  Federal Government Regulatory Agencies and their responsibilities.
• https://www.cpsc.gov/en/Regulations-Laws–Standards/Products-Outside-CPSCs-Jurisdiction/

IV.  Video & Discussion

• AntiTrust
• OSHA Poster & https://www.osha.gov/

 

V.  Classwork

• Guided Reading 7-3
• Obama moves to curb car emissions

1. What is the market failure that the government is trying to reduce?
2. How is the government attempting to fix the failure?
3. What government agency/agencies may be involved?
4. How effective do you believe this policy is likely to be in reducing the market failure?

Economics F2014