Differentiate between different forms of Market Failure and the Externalities Associated with Them Referencing Research: Microeconomics I Coursework , SMU, Singapore

Learning Outcomes:

1. Differentiate between different forms of Market failure and the externalities associated with them referencing research undertaken via an online repository

2. Complete a basic literature review and then evaluate the range of interventions available to governments that seek to rectify the market failure

3. Critically select and retrieve appropriate online resources to support research and report writing activities

Evidence for Assessment

Question1:  Using research extract(s) of your choice and with the aid of diagram(s), explain why the topic you have chosen (sugar consumption, gambling, or energy consumption/production) may be classed as market failure.

• Market Failure and negative externalities (define both of these in detail)
• Different examples of externalities from the Market.
• The diagram to show the externalities.

Question 2 Using your research and notes, evaluate what type of government intervention might be best for reducing the negative externalities caused by your chosen topic (sugar consumption, gambling, or energy consumption/production). You must refer to more than one intervention.

• Different types of government intervention.
• Analysis and evaluation of each type of government intervention