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Microeconomics III

Microeconomics III

En pratique :

Volume horaire de cours : 36
Volume horaire global de TD : 16
Langue principale : Anglais

Description du contenu de l'enseignement

This course explains the basic theories of government failures (public goods, externalities, asymmetric information) and the possibilities they open for government intervention into the economy via both the expenditure and the taxing side of the budget. The course will therefore present a fairly complete analysis of the structure of modern welfare states, including programs such as public education, health care, pension systems, income redistribution and assistance to the poor. The emphasis of the course is on empirical applications of the standard market failure theories, on international comparisons of welfare programs and on the economic evaluation of the policy results. Market alternatives to government interventions will also be discussed.

Textbook: Rosen, H. S. and Gayer, T. (2008). Public Finance, Global Edition, 10ed., New York, McGraw Hill.
Grades: midterm+ final exam
Prerequisites: basic knowledge of microeconomic theory

Calendar and subject matters of THE LECTURES


1 Wednesday, January 10
18h00 S6 Introduction- Tools of positive analysisRG 1 - 2
2 Thursday, January 11
18h00 S6 Tools of normative analysis – welfare theoremsRG 4
3 Wednesday, January 17
18h00 S6 Theories of market failuresRG 4
4 Thursday, January 18
18h00 S6 Introduction to Public ChoiceRG 6, notes
5 Wednesday, January 24
18h00 S6 Theories of government failure and corruptionNotes
6 Thursday, January 25
18h00 S6 Public goodsRG 4
7 Wednesday, January 31
18h00, S6 Application: Economics of educationRG 7, notes
8 Thursday, February 1
18h00 S6 Externalities – 1RG 5
9 Wednesday, February 7
18h00, S6 Externalities – 2RG 5
10 Thursday, February 8
18h00 S6 Application: Economics of the environmentNotes
11 Wednesday, February 14
18h00, S6 Midterm exam
12 Thursday, February 15
18h00 S6 Asymmetric information and health care – market provision of health care servicesRG 9
13 Wednesday, February 28
18h00, S6 Asymmetric information and Health care – national health care systemsRG 10
14 Thursday, March 1
18h00 S6 Social security and pension systemsRG 11
15 Wednesday, March 14
18h00 S6 The political economy of pension reformsNotes
16 Thursday, March 15
18h00 S6 Income redistribution – national and international issuesRG 12, notes
17 Wednesday, March 28
18h00 S6 Political economy of income RedistributionNotes
18 Thursday, March 29
18h00 S6 Recap

1Friday, January 26
10h15 S19Tools of normative analysis
2Friday, February 2
10h15 S19Public goods – 1
3Friday, February 9
10h15 S19Public goods – 2
4Friday, February 16
10h15 S19Externalities – 1
5Friday, February 23
10h15 S19Externalities – 2
6Friday, March 2
10h15 S19Asymmetric information – 1
7Friday, March 16
10h15 S19Asymmetric information – 2
8Friday, March 23
10h15 S5Review

Readings (chiefly scientific articles) will be assigned during the course. Together with the lectures, TDs and the textbook, they will constitute matter for the exams.

Compétences à acquérir

The primary goal of this course is to enable students to applying both the normative and positive theories of government budgetary decision to real world phenomena. Additional objectives are their exposure to comparative analyses of government policies and structures of welfare states, in order to understand the processes of reform and the evolution of policies in the domains of environmental protection, health care, education, social security and income redistribution. Finally students will be introduced to (and will have to use) the structure of public finance theories, like models of public goods, externalities and asymmetric information.