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VelasquezChapter4

ChapterOverview

Inchapter4,studentswillencounterandexploremultifacetedperspectivesregardingtheethicsofmarketeconomies.Utilizingtechniquesofcriticalinquiryandinvestigation,learnerswillevaluatetheethicalimplicationsofeconomicpracticessuchascompetition,monopoly,andwhetherregulationorgovernmentinterventionhelpsorhindershealthyeconomicfunctioning.Studentswillalsocompareandcontrastthepositiveandnegativeimplicationsofstructuralmethodologiessuchasoligopoliesandthemoralapplicationsofaperfectlycompetitivemarket.Throughunderstandingandapplyingthreemaineconomicmodels,learnerswillpracticeapplyingmoralprinciplestoavarietyofmarketscenarios.

In-and-OutofClassActivities

ReflectiveResponse

1.Summarizethemainideasofthethreeprimaryeconomicmodels.Inyourperspective,describethepotentialstrengthsandweaknessesofeachapproach.

2.Howwouldyoudescribethephenomenonofperfectcompetitivenessinamarketstructure?Doyoufeelthatthisstateofequilibriumcanbemaintainedinthelongrun?Whyorwhynot?Discussthefactorsyoufeelmaycontributetomarketinstability.

3.Compareandcontrasttheconceptsofutilitarianismandcapitalistjustice.Doyoufeelthatacapitalistapproachiscompatiblewithautilitarianviewofethicsandmorality?Whyorwhynot?Givespecificexamplestosupportyourperspectives.

Group&TeamCollaboration

1.Withyourteam,researchanexampleofacorporatemonopoly(eitherintheUnitedStatesorabroad).Discusstheimpactsofthemonopolyontheoverallhealthofthemarket,anddescribeanylegislativeinterventionsthatweretakentomanage,control,ordismantlethemonopoly.

2.ImaginethatyourteamisinvolvedinacourtcaseinwhichalargetechfirmhasbeenaccusedofconspiringwithcompetitorsandpricefixingInternetservice.Dividetheteamintotwogroups.Grouponearguesonbehalfofthetechfirm,whilegrouptwoarguesagainstthetechfirm.Usingyourtheoriesofmarketethics,createreasonableargumentstobothsupportanddefendtheactionsofthecompany.

3.Imaginethatyourteamcomprisestheleadershipofagrocerystorechain.Usingthesupplyanddemandchartforpotatoeslocatedinthetext,exploreavarietyofactionsyoumighttaketoincreaseprofitswhilefulfillingtheneedforconsumeraccessibilitytoproduct.

IntellectualDiscussion

LecturePoint:Briberyandbusinessethics

QuestionstoAskStudents:Doyoufeelthatbriberyisaninherentornecessarypartofglobalbusinessendeavors?Whyorwhynot?Createanexampleinwhichcorporatebriberyadherestoautilitarianmoralconstructofbusinessethics.

OnlineAlternative:Doyoufeelthatbriberyisaninherentornecessarypartofglobalbusinessendeavors?Whyorwhynot?Locateanarticleornewsstorythatdescribesanexampleofcorporatebribery,anddescribetheresultsofthesituation.

LecturePoint:Antitrustinitiativesandmorallaw

QuestionstoAskStudents:Usingtheethicalprinciplesofutilityandcapitalistjustice,evaluatethemoralefficacyoftheShermanAntitrustActof1890.Provideexamplestosupportyourperspectives.

OnlineAlternative:LocateacourtcasewhichrelatestotheShermanAntitrustAct.Usingtheethicalprinciplesofutilityandcapitalistjustice,evaluatethemoralefficacyofthecaseandsummarizetheresults.

LecturePoint:Competitivevs.non-competitivemarkets

QuestionstoAskStudents:Compareandcontrastthestrengthsandweaknessesofacompetitiveversusanon-competitivemarket.Whichsystemdoyoufeeloffersthemoststabilityandfiscalhealthtoconsumers?Usespecificexamplestoillustrateyourpoints.

OnlineAlternative:Locatean