Econ 475 students will be able to
- Discuss the revenue, expenditure, and debt patterns of the U.S federal government.
- Analyze how modifying the neoclassical assumptions learned in 380 can affect the welfare implications of markets. In particular, how the welfare implications are affected by
Externalities and Public Goods
Fixed Costs or Increasing Returns
Poorly Enforced Property Rights
Hyperbolic Discounting or Loss Aversion
- Demonstrate an understanding of the function and incentive effects of the major redistribution programs in the United States.
- Discuss the efficiency and distributional effects of taxation and the theory of optimal taxation for both income and commodity taxes.
- Read papers in the public economics literature and
Provide written and oral critiques of the papers
Apply modern tools of econometric analysis in discussing the papers