Double-edged nature of government intervention and market “failure”

Since the 15th of November, year 1 Economy students have begun their finalizing UNIS Economy Forum: Investigative Journalism Project

Each team should choose one of the government interventions – taxes, subsidies, maximum price, minimum price – and explore, analyse, evaluate and weigh the strengths/weaknesses/opportunities/implication.

Team must have the following criteria:

  1. Participation: all members of the group must be in the expose, either as a reporter, news presenter or an extra
  2. Real life example: at least two real-life example
  3. Economic terms and explanation: Explanation of term and graphs are essential in this project
  4. Economic evaluation: two positives and two negatives of government intervention
  5. Style and creativity: Handout/poster, interesting resources, connection with ToK…

Each video would be follow the structure of News. The video must have to include the interview of three people.

 

  1. DP Econ Year 1 student
  2. DP Econ Year 2 student
  3. DP teacher

 

Each team discovered different knowledge through this project!

Jinha and Stella
” We discovered in our research related to subsidy that sometimes firms take advantage of subsidy even when they are expected to provide more merit goods “

Navya and Thu Anh
” We discovered the importance of minimum price and what does government do for citizens related to minimum price “

Rosan and Thao
” We discovered the double-edged nature of taxes on the one hand taxes are designed to redistribute wealth to compensate for market failure on the other hand taxes are resisted because some firms believe they are entitled to all that they earned “

Minju and Yuki
” We discovered that maximum price controls set by the government go a long way to helping people afford fundamental goods like housing, food, and education “

At the last lesson of economy, students were focused on film and edit the video! Sounds from the clips were funny!! 😁

As the 28th of November is the deadline, everyone is on fire!! Go Go Year 1 Economics students!

Invitation to join us! November 29th 2019 at B5 G29 from 10:00 to 11:05!

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