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Market Failures and Policy Responses

ECO 323

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This course discusses several ways in which market outcomes fail to be efficient. It introduces alternative notions of efficiency that are adapted to different environments. A first part of the course discusses externalities and public goods, also discussed in introductory classes. However, policy remedies are addressed in more depth. A second part of the course discusses missing markets and property rights. A third part of the course discusses informational asymmetric, going from search frictions to adverse selection and moral hazard.
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Section L01

  • Type: Lecture
  • Section: L01
  • Status: O
  • Enrollment: 3
  • Capacity: 40
  • Class Number: 42521
  • Schedule: TTh 11:00 AM-12:20 PM