This lesson was inspired by an article in "Fortune" magazine, "Why Companies Fail," May 27,2002. Its focus is on the relationship of business ethics to business bankruptcy or near failure. Students participate in a simulation by assuming the roles of either members of an inquirery board or by assuming the roles of the chief executive officers of a selected corporation. Internet research is required as students discover some of the causes of corporate failure.
This lesson introduces regulation and information as two tools used by government to promote fair competition and complete information in a market economy. Using the 1906 Pure Food and Drugs Act as a case study, students explore the reasons buyers and sellers asked the federal government to intervene with respect to food safety and quality. In a second activity, students examine how government has improved consumer access to food and nutrition information, more specifically, how government requires sellers to provide accurate, standardized information and how it provides information directly through federal agencies. Students then use this information to make a choice between two food products.
Essential Dilemma Your students will consider the following questions: In deciding to secede from the Union in 1861, did the South violate its own self-interest and thus disprove the basic economic principle that people seek to further their self-interest in the decisions they make? To get at the question, each student will assume the role of an ardent secessionist. Acting in this role, the students will apply principles of economic reasoning and use a decision grid to weigh the benefits and costs of the South's effort to create a new nation in which slavery and state's rights would forever be guaranteed by law.
The following lessons come from the Council for Economic Education's library of publications. Clicking the publication title or image will take you to the Council for Economic Education Store for more detailed information.
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