1/15/2018 Market failure blog post activity and student-created study guide | Economics in Plain English

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Nov 13 2014

Market failure blog post activity and student-created study guide

Published by Jason Welker at 8:40 am under 1.4 Market Failure,Market failure

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Over the years I have written many posts on this blog about market failure. The purpose of this activity is for students to re-visit some of these posts, reflect on
different types of market failure, and then complete a short survey in which they demonstrate their understanding of the topic.

With the results from the survey, we will have assembled a comprehensive spreadsheet of all the different types of market failure we study, including definitions,
examples, graphical representations and possible government responses. This document can then be used for review by Economics students studying for a market
failure test.

First, you must get into five groups and each group must read a couple of blog posts about their assigned market failure type.

Group 1: Public Goods:

History of public goods

Park benches

Group 2: Positive consumption externalities:

Condoms
Babies
Video Lecture

Group 3: Positive production externalities:

Examples

Group 4: Common Access Resources and the Tragedy of the Commons

http://goo.gl/0X3nE
http://goo.gl/TwRD1

Group 5: Information Asymmetry

http://goo.gl/nVAZm
http://goo.gl/kVWn6

Group 6: Income Inequality

http://goo.gl/4ediI
http://goo.gl/205Ep

Once your group has read and discussed the blog posts you were assigned, work together to complete the following form. Only click submit once all questions
have been answered!

Google Form – Market Failure Definitions and Examples

Once each group has submitted the form, the results can be viewed publicly here:

Market Failure Definitions and Examples Study Guide

About the author: Jason Welker teaches International Baccalaureate and Advanced Placement Economics at Zurich International School in Switzerland.
In addition to publishing various online resources for economics students and teachers, Jason developed the online version of the Economics course for
the IB and is has authored two Economics textbooks: Pearson Baccalaureate’s Economics for the IB Diploma and REA’s AP Macroeconomics Crash
Course. Jason is a native of the Pacific Northwest of the United States, and is a passionate adventurer, who considers himself a skier / mountain biker who teaches

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Economics in his free time. He and his wife keep a ski chalet in the mountains of Northern Idaho, which now that they live in the Swiss Alps gets far too little use.
Read more posts by this author

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Related posts:

1. Income Inequality and Asymmetric Information as Market Failures – student animations

2. Market failure versus Government failure – what should we be more concerned about?
3. Efficiency and Market Failure in “Anchorman”
4. A video and audio introduction to Market Failure
5. Final Market Failure Quiz – IB Economics

One response so far

One Response to “Market failure blog post activity and student-created study guide”
1. # wowlijetgold lion 31 Oct 2012 at 9:51 am

With the results from the research, we will have constructed a extensive worksheet of all the different types of industry failing we research, such as
explanations, illustrations, visual representations and possible govt reactions. This papers can then be used for evaluation by Business economics learners
learning for a industry failing test.

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