We have been discussing market failure and externalities. The importance of understanding these things is so that stakeholders (businesses, governments, city planners etc) can allocate resources in order to produce the right amount of any given product or service.
First, here are a few important vocabulary terms:
Externalities (When a 3rd party is directly affected by the good or service that they are not consuming or producing themselves, such as second hand smoke).
Merit Goods (good goods, that affect the person NOT consuming/producing the good such as medicines) These are often Public Goods.
Demerit Goods (bad goods such as pollution and cigarettes)
Another way to put it is that we want to maximize our utility (happiness) or “Equilibrium” level. It means that the perfect amount of the good or service is produced and consumed.
So for example, you eat a bite of ice cream, that first bite would taste the best. But then you eat another and another until you get to the point at which you are completely satisfied (the 9th bite). If you were to eat one more bite it (10) it would make you feel a bit sick. You would not consume another bite if it was to have a negative effect on you (therefore, make you feel ill) so your utility would be maximized at the 9th bite.
Inversely, if we do not produce or consume enough of something (say a vaccine for malaria) then we are not at equilibrium or the socially optimal level as there are still people who would like the good or service but cannot get it. So we need the someone else to intervene and help, this is where the government comes in. They help subsidize the production of the merit good.
Your first assessment with be analyzing economic activities in order to identify the market failure, externalities and solutions to reach equilibrium:
You will need to take an article from the news ( maybe use one of these ) and using the topic of market failure, explain what the problem is (why the market has failed) and how the government could step in to solve the problem through the use of a subsidy or a tax.
1) Summarise what the main point of the article is – point out any controversy
2) Explain why the market is failing to be efficient (at equilibrium)
3) Identify the private and third party costs and or benefits
4) Identify the stakeholders in the market and explain if they are hurt or helped and why
5) Explain 2 or 3 possible solutions and evaluate how well they might work given the context of the situation. Evaluate which one is best suited to address the imbalance.
You may use a digram to explain your reasoning.
Judgments are made that are supported by effective and balanced reasoning.
Make judgments – be specific about what you think.
Support judgments with appropriate reasoning – explain why you came to that conclusion and mention the evidence you have for making assumptions or synthesising points.
Consider alternative points of view (be clear about specific stakeholders) or alternative outcomes to the ones you have discussed. Also support these alternatives or rank in order of priority/effectiveness. Give room for claims and their counterclaims.
PART 2 – graphing results, analysis, conclusion and evaluation
Please use clear headings for these sections.
First you will graph your data in order to analyse your findings
* Note – Graphs can be computer generated or done by hand and must have titles, referred to and be integrated into the text, where you talk about them. You should use a variety of suitable graphs to display data. They must be clear, have labelled/numbered axis and titled. Be as creative as you want when illustrating all of your work.
Write your analysis under the headings of each Hypotheses. You will state what we expected with reference to our studies on coastal processes and landforms.( use what we have learned in class! ) You will analyse ( describe and explain ) the data you collected with regard to the expectations of a destructive beach, and state whether or not you have proved or disproved each hypothesis. DO NOT ANSWER THE RESEARCH QUESTION. You will do this in the conclusion.
The waves will be high ( 1 metre or more ) and frequent ( more than 12 per minute )
Use a table or pictograph to illustrate the data and graph the 2 class averages.
There will be a strong longshore drift
Analyse your findings referring to prevailing wind, direction of movement and time taken for any movement of material over 10m. If it is over 3m per minute then it is considered strong.
5. There is natural evidence (erosional landforms) and evidence of Mitigation (man-made defences) which illustrate that show the beach is being destroyed.
Using a field sketch and the observational notes you made as well as photographs present any evidence of the above. Use lots of photos and be creative here. Annotate your photographs to show what they illustrate.
Sum up what you found. Are your hypotheses mainly proven or disproven? Go through each hypothesis and state whether it’s proved or disproved, based on the summary of your findings you will conclude and give your answer to the question: “ Is the beach at Kamakura Inmuragasaki a destructive beach?”
Briefly evaluate (discuss positive and negatives)
the methods and how these might have been improved (not the execution of your peers!)
suggest how the study/methodology might be improved
You will have today’s class and a double period during seminar week to complete this task. You should submit it at the end of the priod next week. You may want to do some homework before then.
10A: Wednesday Oct 18th, periods 3 and 4
10C: Friday Oct 20th, periods 1 and 2
Using this reading, (source) create a poster or booklet explaining, with the aid of diagrams, the formation of:
Wave Cut Platforms
Your resource should also include how erosion and/or deposition processes produced the landform. To do so, explain the 4 processes of erosion and produce fully annotated diagrams. The four processes are:
Examples of each landform with at least one photograph and/or map of it’s location from anywhere in the world
Links to the sources of information of your images/maps/photographs should be cited
Our next unit will be about coastal processes and erosional landforms, leading to another field trip to Kamakura, but this time we will be collecting primary data about theInamuragasaki Beach on November 3rd
First, a few guiding questions to get us started.
What are waves?
Why do they come in different shapes and sizes?
What generates waves?
Why are waves different?
The prefect wave?
What different types of beaches are there?
Can you explain why they look different?
In groups of 3 or 4, you will explain one of the following features:
There’s a catch! Only one person in the group will be allowed to talk. The others will have to “act-out” your explanation without speaking.