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Anoka-Hennepin Secondary Curriculum Unit Plan
Department:
Assessed Trimester:
Social Studies
Course:
Economics
A
Pacing:
6-8 days
Market Structures, Market Failures, and the Economic Role of
Government
12
Unit 3 Title:
Grade Level(s):
Date Created:
6/11/2103
Last Revision Date:
Course Understandings: Student will understand that:
● The behavior of buyers and sellers differs in each market structure (monopoly, perfect competition, monopolistic competition, oligopoly).
DESIRED RESULTS (Stage 1) - WHAT WE WANT STUDENT TO KNOW AND BE ABLE TO DO?
Established Goals
Profit provides an incentive for individuals and businesses; different business organizations and market structures have an effect on the profit, price and production of goods and services.
● 9.2.4.6.1 Compare and contrast characteristics of various market structures.
● 9.2.4.6.2 Explain the impact of various market structures on long-run profit, price, production, and efficiency in the market.
Market failures occur when markets fail to allocate resources efficiently or meet other goals, and this often leads to government attempts to correct the problem.
● 9.2.4.8.1 Identify and analyze market failures caused by a lack of competition, lack of resource mobility (barriers), and lack of perfect information; evaluate the rationale and effectiveness of government attempts to
remedy these problems.
● 9.2.4.8.2 Identify and analyze market failures caused by poorly-defined or poorly- enforced property rights, externalities, and public goods; evaluate the rationale and effectiveness of government attempts to remedy
these problems.
Transfer
Students will be able to independently use their learning to: (product, high order reasoning)
● identify market structures and market failures.
Meaning
Unit Understanding(s):
Students will understand that:
● different markets are characterized by competition, ease of entry, non-price competition, and similarity
of products.
● government plays a role in addressing market failures.
Essential Question(s):
Students will keep considering:
● Why don’t businesses charge whatever price that they want:
● Why do businesses fail?
● Should governments allow monopolies?
Acquisition
Knowledge - Students will:
● identify characteristics of various market structures.
● explain the role of government in market structures.
Common Misunderstandings
● Monopolies can charge any price they want.
Reasoning - Students will:
● analyze causes of market failures.
● explain the effect of competition among sellers in various
structures.
Essential new vocabulary
● Monopoly
● Oligopoly
● Monopolistic
Competition
● Perfect Competition
● Barriers to entry
Skills - Students will:
● evaluate the effects and remedies of market failures.
●
●
●
●
market power
Rival/ non-riva
Excludable/ Non-excludable
Negative/ Positive
externalities
● Free rider problem
● Regulation/ Deregulation
● Antitrust
● Collusion/ Cartel
http://bit.ly/AHSecUbD
● Profit provides an incentive for individuals and businesses; different business organizations and market structures have an effect on the profit, price and production of goods and services.
● Market failures occur when markets fail to allocate resources efficiently or meet other goals, and this often leads to government attempts to correct the problem.