Classes

Ec 980cc: Readings on Market Imperfections and Implications for Government Intervention

Semester: 

Fall

Offered: 

2018

This course discusses basic questions in economics like: When can markets be inefficient? When do such inefficiencies generate a rationale for the government to intervene? By what methods should the government intervene?

We begin the course by reviewing the basic welfare theorems that suggest markets should work well. The first welfare theorem suggests market outcomes are always Pareto efficient – there are no policies the government can do to make everyone better off relative to what the market allocation provides. The second welfare theorem suggests that any desired Pareto...

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Ec 2450A: Public Economics and Fiscal Policy I

Semester: 

Fall

Offered: 

2018

 

The course will focus on a range of topics in public economics including welfare estimation of tax and expenditure policies, including income and commodity taxation, public goods, education, and place-based policies. We will also discuss foundations for government intervention, including market failures such as externalities and asymmetric information. Throughout, the focus will be on using theoretical models to motivate empirical analyses to uncover the desirability of government intervention in the economy and to quantify the welfare impacts of...

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