Description

This course introduces microeconomic theory and considers the role of government in a market economy. Examining common sources of market failure (market power, externalities, asymmetric information) and considering how government policy can address these failures. The course considers equity and fairness in relation to efficiency concerns in terms of policy. The course also attends to empirical considerations of policy. Including the use of data to estimate benefits and costs of policy, government spending and revenue and government deficits and surpluses.