This assignment is based on the Externalities and Incentives: The Economics of COVID video.
This assignment highlights the challenges of creating and deploying a vaccine: both vaccine usage and production have large social benefits that aren't always internalized by the individual deciding to get a vaccine or the firm deciding to develop a vaccine. By watching the video and answering the questions below, your students will see an example of a time when understanding economics can mean the difference between life and death (and billions of dollars)!
- High School
- University
4 Comments
I like your assignment. Those are thoughtful questions.
Nice video. The role of economics as well as the economists can come in not only estimating the competitive price but also in the amount of subsidy to be given to the vaccine companies for them to sustain their profits.
Fantastic teaching material
Thank you for this great video! I have a question: Do you consider the positive externalities as deriving from production or from consumption of the COVID Vaccine? Thank you for your answer in advance.