|Lecture||Jun.-Prof. Dr. Sabrina Jeworrek|
|Melanie Borah, M.Sc.|
All lecture notes and general information on the event are available at: www.elearning.ovgu.de
Whenever markets fail to provide an efficient allocation or lead to an undesirable distribution of wealth and income, the question arises whether and to what extent the government should step in to correct the market results. This course first identifies the main causes for market failures and discusses possible policy measures to correct them. We cover the following topics: efficiency of competitive markets, market power, public goods and externalities, asymmetric information, tax incidence and the excess burden of taxation.
- Stiglitz, J. E. (2000): Economics of the Public Sector. 3rd edition, Norton: New York.
- Further literature will be announced during the semester.