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This New Sense, Inc. vs. Fish 'Till U Drop or Coase Vs. Pigou lesson plan also includes:
Who is responsible for protecting the environment, and who should pay when it is damaged? The role of government and private industry is complicated. A role-play simulation prompts individuals to decide how to protect a fictitious town with its delicious fish using the economic concepts of the Coase Theorem and Pigouvian Tax.
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CCSS:
Adaptable
Concepts
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Instructional Ideas
- Use the role-play exercise to inform a debate on the government's role in managing the market
- Extend the activity into a discussion about environmental or taxation policy
Classroom Considerations
- Scholars require a basic knowledge of economic principles such as cost-benefit and taxation
Pros
- Lesson plan is rich with options for extension activities, such as essays and outside research
- Activities are easy to understand and adaptable to a variety of learning styles