Friday, 17th November, 2017
Your last Economics lesson before Thanksgiving! Today it is a HL lesson on market structures, so I am going to set you some learning to complete over the break. I am going to assume that everyone has completed Monopolistic Competition . So today you are going to mainly focus on the 'efficiency-side' of market structures, the booklet considers 3 types, allocative, productive and dynamic. If you cannot find information for dynamic I'll cover this on our return.
Once you have completed the sections on efficiency I would like you to complete the section on Oligopoly which is a fascinating market structure and introduces a fascinating idea 'Game Theory' which has become a interesting way of analysing how firms are likely to behave in the model of oligopoly (as well as in a whole host of other economic and social situations). If you want to do some research on the prisoners dilemma I've included a clip to support that part of the booklet. Also you are likely to be interested in the development of 'Game Theory' by Nobel Mathematician and Economist John Nash - the film 'Beautiful Mind' is all about Nash's development of 'Game theory' and more poignantly about his dealing with paranoid schizoprnia, which he endured throughout his life. Have a great Thanks Giving!
Summary - complete MC
Start and Finish Efficiency's
For Home Learning over Thanks giving - Complete section on Oligopoly - look at support materials to do with Game Theory as you encounter them in the booklet - not before as this will only confuse!!!
I will be online between 1.30 to 2.30 if you need to email me I can reply.
Once you have completed the sections on efficiency I would like you to complete the section on Oligopoly which is a fascinating market structure and introduces a fascinating idea 'Game Theory' which has become a interesting way of analysing how firms are likely to behave in the model of oligopoly (as well as in a whole host of other economic and social situations). If you want to do some research on the prisoners dilemma I've included a clip to support that part of the booklet. Also you are likely to be interested in the development of 'Game Theory' by Nobel Mathematician and Economist John Nash - the film 'Beautiful Mind' is all about Nash's development of 'Game theory' and more poignantly about his dealing with paranoid schizoprnia, which he endured throughout his life. Have a great Thanks Giving!
Summary - complete MC
Start and Finish Efficiency's
For Home Learning over Thanks giving - Complete section on Oligopoly - look at support materials to do with Game Theory as you encounter them in the booklet - not before as this will only confuse!!!
I will be online between 1.30 to 2.30 if you need to email me I can reply.
How does the idea of Game theory affect how firms in oligopoly are likely to make pricing decisions? |
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Thursday 16th November, 2017
Hi all, almost Thanksgiving and time to re-charge the batteries! Pretty straightforward today - it's an international lesson so all should be present. We are as you know working on our international IA's - if you have not yet sent me an article and had it OK'd please send me one tomorrow morning. I will be online from 9.00am to 9.30 especially so please use this time slot to find one and send me a link, remember protectionism commentaries work well as you can juxtapose and contrast any protections measures with the alternative free or free'er trade.
By the end of the lesson I would have expected you to have completed your plan, can you upload these to the One'Drive folder so that I can have a look over.
I have attached the planning sheet, can you try where possible to use the diagrams from Tragakes especially if they have economic outcomes fully identified and described. Kognity and Oxford are a bit light here, though it will definitely gain you marks on Explanation of diagrams.
By the end of the lesson I would have expected you to have completed your plan, can you upload these to the One'Drive folder so that I can have a look over.
I have attached the planning sheet, can you try where possible to use the diagrams from Tragakes especially if they have economic outcomes fully identified and described. Kognity and Oxford are a bit light here, though it will definitely gain you marks on Explanation of diagrams.