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PUBLIC ECONOMICS
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Public economics
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Academic year 2017/2018
- Course ID
- ECO0245
- Teacher
- Giovanni Mastrobuoni (Lecturer)
- Year
- 2nd year
- Type
- Basic
- Credits/Recognition
- 6
- Course disciplinary sector (SSD)
- SECS-P/03 - scienza delle finanze
- Delivery
- Formal authority
- Language
- English
- Attendance
- Optional
- Type of examination
- Written
- Prerequisites
- Basic knowledge of microeconomics, public economics and mathematics.
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Sommario del corso
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Course objectives
This course examines the role of government in modern private economies, focusing on the topic of market failures. Under ideal conditions, competition promotes economic efficiency, leaving little role for the public sector. In some circumstances, however, private markets fail and government intervention to restore efficiency may be desirable. Market failures to be analyzed include public good provision, externalities, imperfect competition, and asymmetric information.- Oggetto:
Results of learning outcomes
The course will provide the students with an advanced knowledge of standard public economic theory. After attending the course, the student is expected:
• to be able to manage quantitative microeconomic tools to analyse market failure problems and related government interventions;
• to have notions on how public economic theory can be fruitfully applied for undertaking sound empirical analysis of policy making concerning public good provision, market power control, and environmental regulation;
• to learn how to effectively organize ideas mainly in written form, by summarizing, discussing and criticizing the results of academic research in public economics;
• to understand the main building blocks of public economic theory and to acquire the toolkit for undertaking further research work in public economics.- Oggetto:
Course delivery
Lezioni frontali integrate da presentazioni di articoli pa parte degli studenti.- Oggetto:
Learning assessment methods
Written exam with two technical questions. Time: 1 hour.- Oggetto:
Program
Public economics and economic efficiency:
- Pareto-efficiency of competition and First Theorem of Welfare Economics
- Lump-sum transfers and Second Theorem of Welfare Economics
Departures from efficiency:
- Public goods
- Club goods and local public goods
- Externalities
- Imperfect competitionSuggested readings and bibliography
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- HINDRIKS J., MYLES G.D., Intermediate Public Economics, MIT Press, 2013, chapters 1-2, 5-9.
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