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Microeconomics Unit 5  Economics & Public Policy

Unit 5 Key Ideas

Text:  Economics by McConnell & Brue 14th ed.

• Read Chapter   5 The Mixed Economy: Private & Public Sectors (pp. 86-89)
• Read Chapter 30 Economics & Market Failure: Public Goods, Externalities, & information Problems (pp.620-640)
• Read Chapter 31 Public Choice Theory & Taxation (pp. 643-660)

Visuals for Unit 5:

• Vis 5-1  The Economic Functions of Government
• Vis 5-2  Illustrating a Negative Externality
• Vis 5-3  Illustrating a Positive Externality

PowerPoints:
Chapter 5 Market Failures: Public Goods & Externalities (19th ed.)
Chapter 17 Asymmetric Information, Voting, & Public Choice (19th ed.)

Practice Questions:

• Blackboard:  Chapters 5, 30, 31

Videos:

ACDC Unit 5 Market Failures

• ACDC Micro Unit 6 Intro - Market Failures & the Economics (2:32)
• ACDC Micro 6-1 Negative Externalitites (2:32)
• ACDC Micro 6-2 Positive Externalities (2:42)
• ACDC Micro 6-3 Cool Economics Examples (2:16)
• ACDC Micro 6-3 The Laffer Curve (2:28)

Other Micro Units:

• Micro Unit 1
• Micro Unit 2
• Micro Unit 3
• Micro Unit 4
• Micro Unit 5

Sites of interest:

Economics & Efficiency: Public Goods and Externality

Unit 5 Key Ideas Unit 5 Review List

AP Economics Home Page

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