Objectif du cours
This course discusses when and how markets fail to produce efficient outcomes. The focus is on public goods, externalities, imperfect competition, and asymmetric information. We will explore the motives and mechanisms for government intervention to improve/restore efficiency when markets fail. We will also review issues and findings regarding collective decision-making.
A good understanding of microeconomic theory (as in Microeconomics L3 or similar). A good command of multivariate calculus is necessary.
Lecturers : Mathilde Godard & Jonathan Goupille-Lebret
Hindriks, J. and Myles, G. (2006) Intermediate Public Economics, The MIT Press.