Type:

Other, Manual

Description:

This video describes the problem of externalities, or the effects of economic transactions on third parties, without their consent. The problems of compensating or regulating externalities is a difficult one, because it is hard to value the cost imposed on third parties. This video uses a person eating potato chips in class as an example that students can readily understand.

Subjects:

  • Social Studies > General
  • Social Studies > Economics
  • Education > General

Education Levels:

  • Grade 11
  • Grade 12

Keywords:

externalities regulation prices markets taxation

Language:

English

Access Privileges:

Public - Available to anyone

License Deed:

Creative Commons Attribution Non-Commercial

Collections:

None
This resource has not yet been aligned.
Curriki Rating
On a scale of 0 to 3
3
On a scale of 0 to 3

This resource was reviewed using the Curriki Review rubric and received an overall Curriki Review System rating of 3, as of 2013-07-31.

Component Ratings:

Technical Completeness: 3
Content Accuracy: 3
Appropriate Pedagogy: 0

Reviewer Comments:

This resource is a link to a video on learnliberty.org. In the video, Professor Michael Munger of Duke University discusses the topic of externalities using the sale and eating of potato chips. The video is engaging as Professor Munger takes a complex topic and makes it easy to understand by using a real-life example and relating it to economic issues. The video could be used to supplement a teacher-directed lesson on the topic or as a review for students to access on their own. There are additional videos and other valuable resources available on the site.

Not Rated Yet.

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