Tuesday, March 28th, 2006
Market Failures: Externalities
OBJECTIVE
Students shall be able to
define externality.
define positive externality.
define negative externality.
list examples of positive externalities.
list examples of negative externalities.
explain how a positive externality results in the underallocation of resources.
explain how a negative externality results in the overallocation of resources.
ACTIVITIES
Lecture/discussion: Market Externalities - Le Chic and the View at the Beach
Students shall answer a series of thought questions.
Assignment:
Take notes on the lecture, as directed.
Answer these questions on the left side of your notebook. [Password: armchair]
ASSESSMENT PROCEDURES
Monitor and adjust as necessary. Check student notes in the notebook.
TEKS involved: 2B, 2C, 2D, 3B, 4A, 4B, 5A, 5B, 7A, 7B, 15A, 15B, 17A, 20A, 20B, 21A, 21B, 23B, 23D, 24A, 24B, 24C, 24D,