Economic Growth and Freedom in the Coming Millennium
This lesson plan and its linked article help students to understand the basic incentive structure economic systems provide. Students will 1) engage in a simulation that demonstrates the ?Tragedy of the Commons?; 2) understand that different incentives create different results in the economy; and 3) explain how an economic system based on private ownership and free markets provides incentives to manage resources wisely and creates better likelihood of prosperity.
This lesson plan and its linked article help students to understand the basic incentive structure economic systems provide. Students will 1) engage in a simulation that demonstrates the ?Tragedy of the Commons?; 2) understand that different incentives create different results in the economy; and 3) explain how an economic system based on private ownership and free markets provides incentives to manage resources wisely and creates better likelihood of prosperity.
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Material Type:
Drill and Practice
Date Added to MERLOT:
October 23, 2001
Date Modified in MERLOT:
May 03, 2002
Submitter:
Cathy
Swift
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About
Primary Audience:
College General Ed
Mobile Compatibility:
Not specified at this time
Language:
English
Cost Involved:
no
Source Code Available:
no
Accessiblity Information Available:
no
Copyright:
no
Creative Commons:
unsure