Compare and contrast the major microeconomic failures and macroeconomic failures that you learned this semester.
https://youtu.be/WlclzP9gBww
To get you started concentrate on two distinct chapters in the Schiller textbook. See chapter 9 for an analysis of the problems of individual markets. See chapters 11 and 12 for an analysis of problems in the aggregation of markets.
–Identify and summarize the dynamics involved in both kinds of market failure presented.
–How are these different economic breakdowns similar and different?
–Using your knowledge from ALL of the material we have covered this semester, what are the best ways to solve these economic problems and why?
