Lesson 1: Market Failure and Public Goods

Duration of Days: 4

Lesson Objective

Students will explain market failure, public goods, private goods, free riders, demand and supply of public goods, and cost-benefit analysis.

When do markets fail? What goods are difficult for markets to provide? How can society decide whether a public project is worthwhile?

D2.Eco.2.9-12
D2.Eco.7.9-12
D2.Eco.8.9-12
D2.Eco.9.9-12
CCSS.ELA-LITERACY.RH.11-12.4
CCSS.ELA-LITERACY.RH.11-12.7

Students analyze why some goods may not be efficiently provided by markets and use examples to evaluate public goods and public projects. DOK Level 3

Classification charts, real-world examples, graph supports, decision matrix, guided discussion

Public goods classification activity and short response