Lesson Plan

• Describe why well‑defined property rights are essential for efficient resource allocation.
• Explain how different government policy tools strengthen property rights and the trade‑offs involved.
• Analyze the welfare impact of missing property rights using dead‑weight‑loss concepts.
• Evaluate equity and political feasibility considerations of property‑rights interventions.

• Projector and screen
• Slide deck summarising policy tools
• Printed handout of the policy‑tool table
• Worksheet for dead‑weight‑loss calculation
• Whiteboard and markers
• Case‑study excerpts (e.g., fishing‑quota policy)

Begin with a headline about over‑fishing in a local fishery to hook interest. Ask students to recall previous lessons on market failures and externalities. Explain that today they will identify how secure property rights can solve such problems and what criteria will be used to judge success.

1. Do‑now (5'): Think‑pair‑share examples of resources where ownership is unclear.
2. Mini‑lecture (10'): Present key concepts of property rights and the five government policy tools using slides.
3. Guided analysis (12'): In small groups, examine the handout table, discuss each tool’s purpose, advantages and disadvantages.
4. Welfare calculation activity (10'): Students compute a dead‑weight‑loss diagram for a scenario lacking property rights.
5. Case‑study discussion (8'): Evaluate a real‑world policy (e.g., fishing quotas) against efficiency, equity, and feasibility criteria.
6. Check for understanding (5'): Exit ticket – one sentence summarising why property rights matter for efficient markets.

Recap the link between secure property rights, incentives to invest, and reduced externalities. Collect exit tickets and remind students that the homework is to read the textbook chapter on property rights and prepare a brief written example of a policy intervention not covered in class.