Objective:
Students will analyze the role of licensing and credentials in the economy, evaluating their benefits and costs for individuals, businesses, and society as a whole.
Materials Needed:
- Handouts summarizing the pros and cons of licensing, with real-world examples (e.g., medical licenses, taxi medallions).
- Data or case studies on industries heavily regulated by licensing.
Lesson Steps:
1. Introduction (10 minutes):
- Introduce the concept of licensing and credentials:
- Define what licensing is and provide examples from various professions (e.g., healthcare, law, cosmetology).
- Explain the economic rationale for licensing, including quality assurance and consumer safety.
- Briefly mention controversies, such as barriers to entry and economic inefficiencies.
2. Viewing Clip (5 minutes):
- Set up the context: Relate their discussion to real-world debates about licensing, focusing on its role in creating exclusivity and potential monopolies.
3. Group Discussion (10 minutes):
- Divide students into small groups to discuss:
- What are the potential benefits of requiring licenses for certain professions?
- What are the drawbacks or unintended consequences of licensing?
- How does the Game of Thrones example reflect real-world licensing issues?
- What is the impact on Bronn’s value of his new credential (knight)? Why does that credential justify his asking Tyrion for more pay?
4. Concept Application (20 minutes):
- Case Study Analysis:
- Provide real-world examples of licensing and credentials, such as:
- Taxi medallions in New York City.
- Medical licenses for healthcare professionals.
- Tech certifications (e.g., AWS, Microsoft).
- Ask students to analyze the following for each example:
- Benefits: Improved quality, consumer safety, trust in the profession.
- Costs: Barriers to entry, reduced competition, higher costs for consumers.
- Discuss how licensing affects wages, job opportunities, and market efficiency.
5. Wrap-Up and Reflection (10 minutes):
- Summarize the key takeaways:
- Licensing provides consumer protection and professional accountability but can also limit competition and innovation.
- Pose a reflective question: In your future career, how might licensing or credentials impact your opportunities?
6. Activity/Homework (15 minutes):
- Debate Exercise:
- Split the class into two groups:
- Pro-Licensing: Argue that licensing is essential for quality and safety.
- Anti-Licensing: Argue that licensing creates unnecessary barriers and inefficiencies.
- Each group prepares their arguments and presents a 2-minute case to the class.
- Facilitate a short discussion on which side they find more persuasive and why.
- Compare and contrast the desirability of licensing in two professions: electricians and African-style hair braiders.