IB Course Guide
“The purpose of this section is to identify and explain the importance of markets and the role played by demand and supply. The roles played by consumers, producers and the government in different market structures are highlighted. The failures of a market system are identified and possible solutions are examined.
The concepts learned here have links with other areas of the economics syllabus; for example, elasticity has many applications in different areas of international trade and development.”
Activities:
Day 1
Video: “An Inconvenient Truth”
Class Discussion: Why are their inconvenient truths?
More Diagrams! Community Surplus, Externalities in Production
HW Triple A Reading
Watch these two videos, and make a comment that answers the questions and be prepared to discuss your response in class.
PP Lecture Part 1 Introduction
Day 2
Class Discussion of videos
Externalities and Public Goods
Drawing Diagrams
HW Find an article describing Negative or Positive Externality of Consumption
Write a blog post and include a diagram.
Day 3
Public, Merit and Demerit Goods
PP Lecture Government Intervention
Day 4
Monopolies
Day 5 and 6
Jigsaw Group work Activity
Focus: How can public welfare be ensured?
Day 7 – 8
Prepare PP presentation to upload to Voice Thread
Day 9-10
Seminar Preparation
Day 10
Seminar
Resources:
Scotland’s Attempt to Reduce the Negative Externalities of Alcohol.
