Unit 6: Market Failure

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DAILY LESSONS AND ASSESSMENTS

LEARNING ASPIRATIONS:  The focus of these lessons is content knowledge and critical thinking.

1. Negative and Positive Externalities (Topics 6.1 and 6.2)

• • • Today we proclaim our allegiance to the Pigou Club 

2. Public Goods and Common Resources (Topic 6.3) and Income Inequality and Asymmetric Information (Topic 6.5)

3. RTI Day

4. Unit 6 Test

INQUIRY

LEARNING ASPIRATIONS:  The focus of these assessments is cultural competence, content knowledge, critical thinking, and creativity. The extension is specially designed for students interested in emphasizing growth in cultural competence.

INSTRUCTIONS: Go to Schoology and open the "Micro Unit 6 Inquiry Folder." Follow the instructions there about how to participate in today's discussion.

INQUIRY QUESTION: TO WHAT EXTENT DOES ENVIRONMENTAL DEGRADATION DISPROPORTIONATELY IMPACT RACIAL MINORITIES AND THE POOR?

INQUIRY TEXTS

1. Read: How Air Pollution All Across America Reflects Racist Policies from the 1930's (New York Times)

2. Listen: Understanding the Link Between Racial Justice and the Fight Against Climate Change (NPR)

3. Listen: Biden Promises to Grapple with Environmental Racism (NPR)

EXTENSION (OPTIONAL)

If you found this unit interesting, you might want to watch the videos and read the texts below.

IS ECONOMIC INEQUALITY A MARKET FAILURE AND IS IT A BAD THING?

• • • Yes 

    • No 

• • Capital in the 21st Century (optional):  Listen to these podcasts to learn more about the debate over inequality.

    • Thomas Piketty on inequality and Capital in the 21st Century

    • Daron Acemoglu's critique of Piketty

Vaccinations: If you find the idea of positive externalities interesting, watch this video.

HAPPY HOLIDAYS!!!

Is Xmas inefficient? Watch the video embedded below to find out.

And read this article on the deadweight loss of Christmas.

Here is a holiday introduction to macro.