Misallocation of Misallocation of resources: Evaluation and Students will be able to understand: resources teacher-led discussion on the reasoning skills. market failure as the inability of the subject of why the market may market system to allocate resources not work efficiently or why efficiently government intervention may the costs associated with sometimes be required. misallocation of resources Methods of intervention: methods of government intervention teacher-led discussion on the to counter misallocation of methods of government resources. intervention including subsidies and indirect taxation. Real world examples: using news sources, students research and consider markets which may not be working well, or situations where the government has intervened. Externalities Note making and Students will be able to understand: Costs and benefits: teacher-led research skills. discussion on the nature of externalities as the difference social costs/benefits and Presentation skills. between social costs/benefits and private costs/ benefits. private costs/benefits Application of Student activity identifying the difference between positive and economic whether example costs and negative externalities and identify reasoning. benefits are social or private. them that production and consumption Externalities: teacher-led can lead to negative externalities. discussion on the nature of externalities giving examples of both positive and negative.
Misallocation of resources Evaluation and reasoning skills. Students will be able to understand: market failure as the inability of the market system to allocate resources efficiently the costs associated with misallocation of resources methods of government intervention to counter misallocation of resources. Misallocation of resources: teacher-led discussion on the subject of why the market may not work efficiently or why government intervention may sometimes be required. Methods of intervention: teacher-led discussion on the methods of government intervention including subsidies and indirect taxation. Real world examples: using news sources, students research and consider markets which may not be working well, or situations where the government has intervened. Externalities Note making and research skills. Presentation skills. Application of economic reasoning. Students will be able to understand: externalities as the difference between social costs/benefits and private costs/benefits the difference between positive and negative externalities and identify them that production and consumption can lead to negative externalities. Costs and benefits: teacher-led discussion on the nature of social costs/benefits and private costs/ benefits. Student activity identifying whether example costs and benefits are social or private. Externalities: teacher-led discussion on the nature of externalities giving examples of both positive and negative.
AQA-8136-SOW.DOCX