Economics – 11/20/19

I. Bellwork

A.  Obama moves to curb car emissions  Questions & Answers

  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?

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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