Econ 136: Week 7 Tasks

ECON 136:  Week 7 Tasks

A underlying theme for this week is the difference between private and public.   When is/should a transaction between two individuals purely a matter for the two of them and when does a wider community have a stake in the transaction?    In the latter case, how does the wider community allocate resources to promoting/protecting its interests?

Monday:  Externalities

Preparing for class:

All:       Read Taylor Ch. 14, pp. 259-263

            Watch Khan Academy video on Negative Externalities

Non-360 Students:   Review you notes  from Friday’s class.   Be prepared to explain how taxation to fund amenities in the consumption of a good or service could be economically efficient.

360 Students:   We usually think of elementary education as motivated by a public or non-profit purpose.    Reflect on and be prepared to discuss elements of the provision of educational services at Sacred Heart School that we associate with (for profit) market transactions in other settings. 

Before you retire Sunday night (or by 3am  Monday)

            Complete the Externalities problem set in Sapling Learning

Before you retire Monday night (or by 3am Tuesday)

            Save your Explaining a Price essay to our joint Dropbox folder 

Wednesday:  Public Goods        

            Preparing for Class

            Read Taylor Ch. 15, pp. 284-285

            Watch Mary McGlasson’s video on Public Goods

            Watch Khan Academy video on Positive Externalities’

Before you retire Tuesday night (or by 3am  Wednesday)

            Complete the Public Goods problem set in Sapling Learning

Friday:   Government Responses to Externalities

            We meet at 10:10 am in Dalton 25

            Preparing for Class

            Read Taylor Ch. 14, pp. 263-271   

Before you retire Thursday night (or by 3am Friday)

            Complete the Government Response problem set in Sapling Learning

Enjoy your Break (that’s a course requirement; I need you rested and enthusiastic on your return).   But,

• In Moodle, please choose a time to meet with me the week of March 17.
• You might review your notes and reflect on what of what we covered in the first half of the course remains unclear.