Market Failures
Syllabus Coverage
2.8 Market failure—externalities and common pool or
common access resources
2.9 Market failure—public goods
2.10 Market failure—asymmetric information (HL only)
Unit Readings
Chapter Nine:
Market Failure
Google Doc: Make a Copy and use
Google Quiz
Slide Show
Market Failure Explained
Two Videos Explaining Negative Externalities of Production
Interesting article on the Negative Externality of Bit Coin Production. Good for a 'real world' example.
Negative Externality of Consumption Explained
De-merit Goods Explained
Positive Externality of Consumption Explained
Merit Goods Explained
Positive Externality of Production Explained
Externalities Worksheet (borrowed from APIP)
Public and Private Goods Explained
Public Versus Private Goods Explained (borrowed from APIP
Nudge Theory and Externalities
Tragedy of the Commons Explained
Two Good Articles on Tradable Permit concept
Cap and Trade System Explained
The Kyoto Protocol Explained
Paris Agreement Explained
Sustainability Explained
Asymmetric Information Explained (HL Only)
Asymmetric Information, Adverse Selection and Moral Hazard Explained (HL Only)
This video discusses many issues related to asymmetric information and monopoly power in general. This video will be posted on the Theory of the Firm section as well.
