What can microeconomics students expect to learn about when it comes to a unit on market failures and the role of the government? Introduce your young economists to the why and how of free market failures and how the government intercedes to regulate externalities.

Concepts

market economies, microeconomics, fiscal policy, externalities

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Additional Tags

social studies

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Instructional Ideas

• Provide this video as a supplemental study aid on your class website, or use as a model for your own instruction

Classroom Considerations

• This video is the first of a five-part series on market failures, which delves into such topics as public goods and free riders, negative and positive externalities, and the Lorenz curve

• This video is hosted on YouTube

Pros

• Clear, concise introduction
• Instructor has an approachable, effective teaching style

Cons

• None

Common Core

RH.11-12.4 RH.11-12.7