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Lesson Plan

New Sense, Inc. vs. Fish 'Till U Drop or Coase Vs. Pigou

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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
business, credit, making decisions, cost-benefit analysis, economic systems, market structures, governments
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Additional Tags
social studies
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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
Cons