View source for Political Economy (course)

Political Economy.

== Syllabus ==

=== 1. Limits and potential of markets ===

* Externalities and public goods
* The Coase theorem
* Example: existing markets for pollution permits
* Theory: a simple “mechanism”

=== 2. Public goods provision ===

* Optimal provision (the Samuelson Lindhal condition)
* Decentralized provision of public goods and free-riding
* The Vickrey-Clarke-Groves mechanism

=== 3. Voting ===

* Arrow’s Impossibility theorem
* Majority rule
* Alternatives to majority rule
* Majority rule and common values

=== 4.  Redistribution ===

* Normative criteria for redistribution
* Rent-seeking and lobbying
* Fairness and redistribution

=== 5.  Federalism ===

* Normative criteria for federalism
* Distortions
* Geographic federalism vs. functional federalism

[[Category:Economics courses]]