Monday, 20th November, 2017
Any work from the past 2 lessons must be completed as priority before you move on.
What: Should government measures be taken to conserve resources?
How: Research and discussion
Why: To understand that there are government and market based solutions to the problem of resource conservation.
Read pages 85 - 93 and take brief notes.
As a class discuss the article on page 87.
Then take part in a debate on the topic of 'Should government measures be introduced to conserve resources?'. Perhaps the most extreme measure taken has been by the Chinese Communist Party in the People's Republic of China with the one child policy. Compare government solutions to market ones. Half the class should argue 'No' and half 'Yes' using the table on page 92-93. In the last 5 minutes submit your own tweets or send a summary of your debate to [email protected].
What: Should government measures be taken to conserve resources?
How: Research and discussion
Why: To understand that there are government and market based solutions to the problem of resource conservation.
Read pages 85 - 93 and take brief notes.
As a class discuss the article on page 87.
Then take part in a debate on the topic of 'Should government measures be introduced to conserve resources?'. Perhaps the most extreme measure taken has been by the Chinese Communist Party in the People's Republic of China with the one child policy. Compare government solutions to market ones. Half the class should argue 'No' and half 'Yes' using the table on page 92-93. In the last 5 minutes submit your own tweets or send a summary of your debate to [email protected].
tHURSDAY, 16TH nOVEMBER, 2017
If you have any unfinished learning from Monday, this is the priority as it should have been completed for home learning.
Correcting Externalities
Share the ideas from your correcting market failures tables with other members of the class, you should now be ready to create an individual poster for either Negative Externalities of Consumption or Production. Create the poster either digitally or on A3 paper.
The poster success criteria:
What is a Negative externality of Production/Consumption?
Explain in detail for each example who pays the private cost and who the external cost (in the case of negative production externalities)
What real world examples are there (identifiy as many as you can and avoid multiple examples of the same thing i.e pollution)
What other methods can be used to correct an externality
Add your posters to the wall display ‘How much government intervention is desirable?’
Any unfinished learning from today's lesson is home learning for completion by next lesson.
Correcting Externalities
Share the ideas from your correcting market failures tables with other members of the class, you should now be ready to create an individual poster for either Negative Externalities of Consumption or Production. Create the poster either digitally or on A3 paper.
The poster success criteria:
What is a Negative externality of Production/Consumption?
Explain in detail for each example who pays the private cost and who the external cost (in the case of negative production externalities)
What real world examples are there (identifiy as many as you can and avoid multiple examples of the same thing i.e pollution)
- Explain in detail for each example who pays the private cost and who the external cost (in the case of negative production externalities)
- Explain in detail for each example who receives the private benefit and who the external cost (in the case of negative consumption externalities)
What other methods can be used to correct an externality
Add your posters to the wall display ‘How much government intervention is desirable?’
Any unfinished learning from today's lesson is home learning for completion by next lesson.
November 13, 2017
Social Costs and Benefits
What: When should we pursue economic activity?
How: Discuss the conflicts of interest in relation to private and social costs and benefits
Why: To understand that only an economic use of resources will generate more social benefits than social costs
How: Discuss the conflicts of interest in relation to private and social costs and benefits
Why: To understand that only an economic use of resources will generate more social benefits than social costs
1. Watch the two clips below on the deepwater horizon.
- Read pages 75 to 81.
- Define the following key terms as you read:
- Private Benefit
- Negative Externality
- Positive Externality
- External Benefit
- Private Cost
- Social Cost
- Social Benefit
- Economic Use of Resoures
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Activity 2: Deep water drilling is a form of economic activity in the Gulf of Mexico. It creates both private costs and benefits to firms that operate in the Gulf and consumers that consume oil from the Gulf. Additionally there are both External benefits and external costs from the activity. Using the information in the clips and your own research identify some private costs and benefits of deepwater oil extraction in the Gulf of Mexico. Now identify some of the external benefits and costs of this economic activity in the Gulf.
A table like the one below may help you, try to include at least 3 ideas for each:
A table like the one below may help you, try to include at least 3 ideas for each:
The Area affected by the Deep Water Horizon Oil Spill
Not painting a pretty picture
Activity 3: Look at Activity 2.24 on page 80. Individually answer questions 1-5. Then divide the class in half and complete the group activity on Page 81. After 15 minutes of discussion record notes on the outcome of your negotiation.
Identifying positive and negative externalities of Consumption and production
It is worth identifying where externalities are created, they can either be created in consumption or production. We often want to encourage positive externalities through incentives, like subsidies whilst discourage negative externalities through disincentives such as taxation. Cut out the following cards and decide whether they are firstly positive or negative externalities, next decide whether they occur in the production phase or the consumption phase, now stick the 4 different types of externality into you book.
How can we discourage negative externalities, and encourage positive externalities?
As mentioned above we often want to encourage positive externalities of consumption and production and discourage negative externalities of production and consumption. Use pages 81 -85 to make notes on the table attached. You should use some of the examples from the earlier activities to demonstrate how they would influence market outcomes. You should use economic diagrams where possible to demonstrate the market outcome.