G11 - Week 8 - Day 2

In-class work

1. Chapter 5 exercise questions/closure - 10 minutes
2. Introduction to Market Failure - Negative Externalities of Production
3. Negative Externalities of Consumption as a Market Failure
1. Exercises 1-3, page 133

Upcoming

1. Ch. 5-6 assessment on Thursday, October 20th
2. Make sure to be reading news sources and collecting real-life examples of market failures 

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From the blogosphere

1. Free trade has been good for the poor
2. Dueling Samuelson’s Ghost

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Currently Reading

Exodus: How Migration Is Changing Our World

The above diagram shows what can potentially happen when large groups of migrants move into a host country. The diaspora (migrants living in the host country) can indefinitely grow in size when they are unable or unwilling to integrate into the host country's society. This can lead to a number of issues, namely a break down of mutual regard and perhaps emigration of the host citizens to other countries.