Market failure assessment
You all read and decided on one of these articles and we discussed some of the issues. We can now do this as a formal assessment. So you can continue working on it and follow the layout below. Think about how you might present it. You may work with your partner or alone. You may even choose to focus on a different article if you wish.
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 diagram to explain your reasoning – look at those on the worksheet.
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.
Here is an example.
In groups of 2: Pick a recent article depicting a market failure and analyze it using the 5 points above. You will present your findings to the class.
- Presentations should be between 3 and 5 minutes long
- You may record a video
Hyperlink your presentations here.
Due date 10 -1 & 10-4 = Sept 13th
Before we start lets look at the TSC and decide on the ATLs we will focus on as a class and those you will focus on individually – You need to create an ATL folio to add to throughout the year.