Or try this short game... Tragedy of the Bunnies Common access resources and the threat to sustainability
Cap and trade schemes: http://www.stuffyoushouldknow.com/podcasts/whats-the-deal-with-carbon-trading/ Use p147-153 Blink/Dorton plus handout from Welker text to fill in document I will give you to address the above objectives.
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Asymmetric information
Use the handout/Kognity/textbook to respond to the following: Asymmetric information
Use p 139-141 to do the following:
The meaning of externalities
You will be given a packet of resources that we will use to address these objectives. It is really important to learn to draw and use the graphs properly so practise these. There are lots of real life examples of externalities of production and consumption and it is an excellent topic to do an IA on... you should be reading newspapers looking for good articles! Market failure as a failure to allocate resources efficiently
We will discuss what is meant by market success/allocative efficiency and the conditions for market success before we get started looking at all the ways markets may fail to allocate resources efficiently. https://docs.google.com/a/aisbudapest.org/document/d/1GE4wdZD6mcIJ8wCTiHhGQlve5uzcG5xpa8tiyzAGVVI/edit?usp=sharing Price ceilings: maximum prices
There will be handouts and there will be maths! |
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