The Economic Effects of the Nineteenth Century Monopoly | Lesson Demo
Source: Council for Economic Education (EconEdLink) | Type: Interactive Tool
This video is a classroom demonstration of Lesson 25: The Economic Effects of the Nineteenth-Century Monopoly from CEE's Understanding Economics in U.S. History publication. In this lesson the students are introduced to the different types of business entities: the pure competitor, monopolist and cartel. They play a game that illustrates how difficult it can be for cartels or trusts to boost profits by colluding to reduce competition. The students read about the logic of monopoly prices and discuss whether workers on average were better off after industrialization. This lesson helps students understand monopolistic behavior and the conditions that gave rise to the Sherman Anti-Trust Act of 1890. The video starts with an introduction by two educators describing the lesson, followed by a demonstration of the lesson being taught to teachers in the classroom. This lesson was originally published in CEE's Understanding Economics in U.S. History, which uses a unique mystery-solving approach to teach U.S. economic history to your high school students through 39 lessons. Visit the CEE Store for more information about the publication and how to purchase it.
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