Essay Topic: Compare and contrast the major microeconomic failures and macroeconomic failures.
To get you started concentrate on two distinct chapters in the Schiller textbook. See chapter 4 for an analysis of the problems of individual markets. See chapter 10 for an analysis of problems in the aggregation of markets.
–Identify and summarize the dynamics involved in both kinds of market failure presented.
–How are these different economic breakdowns similar and different?
— What are the best ways to solve these economic problems and why?