Price Controls, Subsidies, and the Risks of Good Intentions: Crash Course Economics Video Analysis with Key- This is an 8 page document that contains a video analysis assignment and a completed teachers key for easy marking. It contains 28 questions based on The Crash Course Economics video:Price Controls, Subsidies, and the Risks of Good Intentions.
This assignment will ask students to go to YouTube and watch the Crash Course video: Price Controls, Subsidies, and the Risks of Good Intentions. The video will first introduce the topic of price controls and the concepts behind price ceilings and price floors. Government intervention and price controls is reviewed for both concepts and explained, students will see how price controls usually end up doing more damage than good. Dead weight loss in shortages and surpluses are demonstrated due to price controls and students will be shown the example of how price ceilings in Venezuela have crippled the economy. Rent control in the US, and its negative outcomes, is also used to demonstrate why economists do not like price controls. Subsidies are the next topic to be reviewed by the video. Students will examine farm subsidies in particular and learn why economists do not support them. The origin of farm subsides (Great Depression) is explained as is the risks that farmers now take due to subsidies and the market being manipulated.
This video analysis can be easily used as an introduction to the topic, a study guide, or a quick and easy sub plan. Students love the independence of this assignment by getting to use laptops, Chromebooks, or even their own cellphones to watch the video. Crash Course videos tend to move fast so students often find success if they watch the video through once before going back to pause/play to find the answers to all of the questions.