Slides 6–21

4. Progress through Slides 6–7. Use the information on Slide 7 to explain the government's role in relation to competition.
5. Using Slides 8–10, provide current event examples to demonstrate how the government intervenes in product markets. Students add notes and drawings to the "Government as Regulator" section of Student Handout.
6. Display Slide 11. Clarify that intellectual property rights are an example of government regulation that serves to limit competition. Students add notes to the "Government as Regulator" section of Student Handout.
7. Advance to Slide 12. Students answer the question with a partner and then debrief as a class.
8. Proceed to Slide 13. Students discuss how their initial predictions from Step 3 can be refined based on the solutions presented in Steps 4–7.
9. Progress through Slides 14–15. Explain that students will complete a no-stakes Retrieval Practice without using any resources. Note: This lesson is tight for time — if needed, Retrieval Practice can be assigned as homework.
   • Physical copy: distribute 1 copy of Retrieval Practice per student. Allow 5 minutes. Display Slide 16 to reveal correct responses. Students circle missed items and the corresponding correct responses. Outside of class, students use their notes to determine the rationale behind incorrect responses.
   • Digital copy: send the link to Digital Retrieval Practice. Direct students to get a device. Allow 6 minutes. Tell students to review correct responses in the form (skip Slide 16).
10. Advance through Slides 17–18. Allow 15 seconds for students to discuss the question on Slide 18 with a partner. Click to define government failure and explain how regulation can result in government failure. Students add notes to Student Handout.
11. Progress to Slide 19. Explain that not all economists agree about when or to what degree the government should be involved in markets. In this portion of class, students will learn about two perspectives: one sees the government as interfering (making the situation worse) and the other as intervening (making the situation better).
12. Proceed to Slide 20. Read aloud the social media post and tell students it would cause a big reaction in the economics community. The student's goal will be to effectively represent how two economic thinkers with differing perspectives would converse about this post. Note: The conservative argument is attributed to Deirdre (based on Deirdre McCloskey); the liberal argument is attributed to Cecilia (based on Cecilia Rouse). Neither reading includes actual quotes, but perspectives generally align with each economist's broader views.
13. Display Slide 21. Direct students to follow along on the "Differing Perspectives" section of Student Handout as you read the Introduction, Task, and Criteria. Click to demonstrate the materials for each portion of the task. Note: Deirdre's Perspective and Cecilia's Perspective focus predominantly on market power, but students should incorporate other examples of market failure or government failure in their social media conversation.
14. Place students in groups of 4. Distribute 2 copies of Deirdre's Perspective and 2 copies of Cecilia's Perspective per group. Instruct students to partner within their group of 4 to read and summarize one perspective, adding notes to "Deirdre's Thoughts" or "Cecilia's Thoughts" in the t-chart on Student Handout. Encourage students to summarize main ideas rather than copying large sections of text.
15. Instruct pairs to exchange information within their group, adding notes for the perspective they did not read. Direct students to alert you when their group has completed the exchange.
16. As groups complete the exchange, distribute 1 copy of Social Media Conversation to each student. Allow approximately 10 minutes for students to individually generate a series of social media posts based on the information they gathered. Reference Exemplar Social Media Conversation to preview a finished product. Pro Tip: Display strong examples at the start of the next lesson to address gaps in understanding.
17. Collect Social Media Conversation from students to identify gaps in understanding and misconceptions. Address these at the start of the next lesson.