This course serves as a continuation of Introduction to Microtheory. This course 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. PREREQUISITE: PPOL 501, INTRODUCTION TO MICROTHEORY.
Credits: 3
Prerequisites: None
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