Microecon II:Mkt Fail Pub Econ

3 Credits · Level: Graduate, Undergraduate

This course serves as a continuation of Intermediate Microeconomics. It explores the impact of a variety of factors that may result in market failures, including public goods, externalities, information asymmetries and uncertainty. A rationale for government policies as a corrective device for market failures is then developed. This framework is then used to discuss a variety of government transfer programs and their financing, with particular emphasis on the incentive effects of such programs and policies. An introduction to cost/benefit analysis is incorporated as a mechanism for evaluating various programs.