Economics – 11/20/19
I. Bellwork
A. Obama moves to curb car emissions Questions & Answers
- What is the market failure that the government is trying to reduce?
- How is the government attempting to fix the failure?
- What government agency/agencies may be involved?
- How effective do you believe this policy is likely to be in reducing the market failure?
II Objectives
- Discuss and provide analysis of the societal impact externalities and market failures (tragedy of the commons) while also exploring possible methods to resolve these issues..
- Evaluate various explanations for actions or events and determine which explanation best accords with textual evidence.
III. Review Market Failures
IV. Tragedy of the Commons Part 1 – Chalk Talk
V. Classwork Ch7 – Enrichment Activities: 1-4 Q&A
VI. Chapter 7 Quiz
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