Ch. #06 Market failure & IA

Friday, October 18, 2019 – Thursday, October 31, 2019

10/18 Friday
In class:

• Review Additional help understanding externalities

Homework:

• Choice

10/21 Monday
In class:

• Draw four externality scenarios
• Check for understanding MC 1-29 (Hoang)
• Hand back peer edited Ch 5 essay
  • Scores were recorded as peer editors assigned
  • Scores are recorded as no count
  • Students will self-score to calibrate peer edit score by applying rubric and editor comments
    • Question a rubric (10)
    • Question b rubric (15)
  • Originator will return essays with a 100 word maximum typed reflection on how the new score was determined due Wednesday, both periods
  • Following IB theory, samples of  various score levels will be tested and all scores moderated, remaining as no counts
  • Micro IA will determine all previous essay scores​

Homework:

• Lecture

10/22 Tuesday (Period 5)
In class:

• ​Internal assessment kick-off (Thepaperboy.com)
• IBO on Articles: "The articles may be from a newspaper, a journal or the internet, but must not be from television or radio broadcasts. If a student includes a relatively lengthy article, which is very much discouraged, the student must highlight the section(s) of the article upon which the commentary is based. The article on which the commentary is based should, where possible, be in the same language as the commentary. If an extract in another language is used, the student must provide an accurate translation of the whole article. Students must also include the original article in their portfolio."
• IA deliverable due date schedule:
  • 10/25 IA commentary planning sheet (typed except for graphs)
    • You must get approval of your planning sheet before writing your IA
    • Any feedback, prior to grading, will be on your planning sheet, not your actual IA
  • 10/28 First draft for in-class peer edit
  • 10/31 Final draft to teacher (specific requirements in hand out)
• Hand out IB Econ Guide to IA
• Click here for Negative externality touch points to consider hitting in your IA
• Read sample
• Subsidy research
  • Global Subsidies Initiative
  • Different Types of Producer Subsidies:
    1. A guaranteed payment on the factor cost of a product – e.g. a guaranteed minimum price offered to farmers.
    2. An input subsidy which subsidizes the cost of inputs used in production – e.g. an employment subsidy for taking on more workers or special types of workers.
    3. Government grants to cover losses made by a business – e.g. a grant given to cover losses in the railway industry or a loss-making airline.
    4. Bail-outs e.g. for financial organisations in the wake of the credit crunch
    5. Financial assistance (loans and grants) for businesses setting up in areas of high unemployment – e.g. as part of a regional policy designed to boost employment
  • Points to consider when evaluating subsidies:
    • Are the subsidies effective in meeting their aims?
      • Will they achieve the desired stimulus to demand/consumption?
      • Is a subsidy sufficient? Might other incentives be needed?
    • Will a subsidy affect productivity/efficiency?
      • Subsidies for investment and research can bring positive spillovers
      • But firms may become dependent on state aid/financial assistance
    • How much does the subsidy cost and who benefits?
      • Is a subsidy part self-financing? Will it create more tax revenue?
      • Or does a subsidy create an expensive extra burden for taxpayers?
    • Does the subsidy help to correct a market failure?
      • For example, is employment higher with child care subsidies?
      • Or does a subsidy lead to undesired unintended consequences?
• Indirect taxes research
  • Points to consider when evaluating indirect taxes:
    • Effectiveness of a tax and unintended consequences
      • Does an indirect tax achieve specified aims?
      • Are there unintended consequences of introducing/changing a tax?
    • How much tax revenue? How is it used?
      • Does an indirect tax generate substantial tax revenue?
      • How is the tax revenue used - perhaps for particular projects?
    • What is the impact on businesses and competitiveness?
      • Might there be a loss of jobs and/or investment?
      • Will an indirect tax negatively affect competitiveness and trade?
    • Consequences for equity/the distribution of income
      • Is the tax fair? Who are the winners and losers?
      • Does a tax have a regressive effect on lower income groups?

Homework:

• Public goods note blank
• Public goods as a market failure part 1 9:11m
• Public goods as a market failure part 2 9:45m

10/23 Wednesday (Period 4)
In class:

• Same as Tuesday

Homework:

• Public goods note blank
• Public goods as a market failure part 1 9:11m
• Public goods as a market failure part 2 9:45m

10/24 Thursday
In Class:

• Students may work on any of the following:
  • IA
  • DECA practice test
  • Chapter 6 study, including chapter reading, PPT, or videos

Homework:

• Choice

10/25 Friday
In class:

• Turn in IA commentary planning worksheet
• Students will prepare to discuss in a Socratic seminar on Monday their evaluation of Initiative 976 - Limits on Motor Vehicle Taxes and Fees Measure (2019)
  • Seminar guiding question: Should I-976 be enacted?
    • This will be scored as their Market Failure assessment
• The first draft of the IA for peer edit has been extended to 10/29 for 5th period and 10/30 for 4th period 
• The IA final due date has been extended to 11/4
  
  

Homework:

• Choice

10/28 Monday
In class:

• Student led Socratic seminar on I-976 
  • This will be scored as your Market Failure chapter assessment

Homework:

• Choice

​10/29 Tuesday (Period 5)
In class:

• IA work period

Homework:

• Choice

10/30 Wednesday (Period 4)
In Class:

• IA work period

Homework:

• Choice

10/31 Thursday
In class:

• IA work period
• Micro IA cover sheet

Homework

• Choice

11/1 Friday
In class:

• 2019 IA comments
• IA draft peer edit writing session

Homework

• Write final draft of IA, due Monday
• Required order of PRINTED IA turn in - and thank you all very much!
  • Rubric with you name printed at the top (yes, your name:)
  • Cover page (no name, IB number, school or any other personal identifier)
    • Title should be the title of the article
  • IA, double spaced!
  • Article

Key learning
Graphic organizer​
Learning objectives
Learning objectives answers
Vocabulary
Diagrams

Chapter resources

​Textbooks:
Jason Welker (interactive)
Alternative textbook

Video lectures:
Jason Welker (our textbook)
AC/DC
Khan
Crashcourse

PPT lectures:
Jason Welker (our textbook)

Economic writing:
How to structure your essays
Command terms
Glossary

​Diagramming:
Key diagrams
​How to read and interpret graphs
Comprehensive list

Course resources
​​Course overview
Syllabus (Skyline)
IB course guide (official IB syllabus)
LO's by page #
Chapter index
IBO Sub reports
OSPI framework
Module review guides:
  Micro
  Macro
  International
  Development
IA Resources
 Title page sample
 Micro samples
 Macro samples
 International samples
 IBO feedback