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.

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

Common Core

RH.9-10.1 RH.9-10.2 RH.9-10.10 RH.11-12.1 RH.11-12.2 RH.11-12.10