About This Chapter
Below is a sample breakdown of the Government Issues in Microeconomics chapter into a 5-day school week. Based on the pace of your course, you may need to adapt the lesson plan to fit your needs.
|Day||Topics||Key Terms and Concepts Covered|
|Monday||Trade barriers||Mercantilism, protectionism, license, quotas and subsidies|
|Tuesday||Taxes||Regressive, progressive and proportional taxes; the U.S. Tax Code|
|Wednesday||History and impact of U.S. anti-trust legislation||Robber barons, Interstate Commerce Act of 1887, Sherman Antitrust Act of 1890 and Standard Oil|
|Thursday||Economic regulation and deregulation||Tragedy of the commons, social regulation and economic regulation|
|Friday||The circular flow model||Factors of production, prices, households, injections and leakages|
1. Trade Barriers: Impacts on Prices & Demand
All countries desire trade as a way of increasing their wealth, but very often they want it on their own terms. This lesson looks at the trade barriers that many countries establish, as well as the effects of such limitations.
2. Types of Taxes & the US Tax Code: Impact on Microeconomics
I know what you're thinking - it's bad enough I have to pay taxes, now why would I want to sit through a lesson on them. However, understanding more about taxes may help you convince the government that you don't need so many of them...
3. Anti-Trust Legislation in the US: History & Impact on the Economy
For more than 100 years, a constant worry has been trying to figure out how big businesses should be allowed to grow. This lesson takes a look at a specific type of business, trusts, and trust busting.
4. Governmental Regulation & Deregulation of the Economy
Government regulations affect all aspects of the economy. However, some sectors are subject to specific regulations due to their importance. This lesson explores the purposes and methods of economic regulation and deregulation.
5. Circular Flow of Economic Activity: The Flow of Goods, Services & Resources
Learn about the simple model used to describe where money goes and what it is exchanged for in a market economy. The circular flow model of economic activity shows you the basic relationships between households, firms and the government.
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