Summer 2023 - ECON 912 G100
Selected Topics in Economics (4)
Class Number: 2760
Delivery Method: In Person
Overview
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Course Times + Location:
May 8 – Aug 4, 2023: Thu, 8:30–11:20 a.m.
Burnaby
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Instructor:
Gordon Myers
gmmyers@sfu.ca
1 778 782-9383
Description
CALENDAR DESCRIPTION:
Offered by arrangement.
COURSE DETAILS:
This course studies the economic role of government from a normative perspective.Important topics are: Welfare Economics; Pareto efficiency; theFirst and SecondTheorems of Welfare Economics; public goods; externalities;asymmetric information and mechanisms, inequality; and behavioral public economics.
Course Outline and Readings:
- Introduction to Public Economics (notes, M1, and HM1)
- Welfare Economics: A Good Society from an Economics Perspective (notes)
- Assumptions and Principles Underlying Welfare Economics
- Characterizing a Good Society
- Pareto Efficiency
- The Overall Welfare Condition and the Best outcome
- Results Regarding a Good Society
- Complete Decentralization and Competitive Markets (notes, M2, HM2)
- Markets and Efficiency (First Theorem of Welfare Economics)
- Markets and Distribution (Second Theorem of WelfareEconomics)
- Public Goods (notes, M9, HM6, V23)
- About Public Goods
- Welfare Maximization and Pareto efficiency with Public Goods
- Private (Market) Provision of Public Goods
- Asymmetric Information and the Groves-Clarke Tax
- An Application of the Clarke tax to Budgeting (MY22)
- Experiments
- Externalities (notes, M10, HM8, V24)
- Pareto Efficiency with externalities
- Private Market Behavior
- Coase Theorem
- Asymmetric Information and the Compensation Mechanism
- Distributive Justice (notes and HW13 and HW14)
- “Fairness”
- The Impossibility of Lump sum Taxation and the Failure of the Second Theorem
- Second-Best Efficiency
- Inequality
- Operationalizing the Welfare Function
- Guaranteed Annual Income
- Behavioural Public Economics and Behavioural Public Choice—if time permits HM3, BT18, and MY23
Grading
- Term test 1 25%
- Term test 2 25%
- Final exam 50%
Materials
RECOMMENDED READING:
Hendricks and Myles, Intermediate Public Economics, 2nd Edition. HM
Myles, Public Economics, 1st Edition. M
Varian, Microeconomic Analysis 3rd Edition V
Bernheim and Taubinsky, Behavioral Public Economics.in Handbook of Behavioral Economics I, BT18
De Palma et al Imperfect Public Choice, MY23
Myers A Mechanism for Budgeting Faculty Support Services: Ask the Deans, MY22
The set of lecture notes and readings are not substitutes. They are complements.
REQUIRED READING NOTES:
Your personalized Course Material list, including digital and physical textbooks, are available through the SFU Bookstore website by simply entering your Computing ID at: shop.sfu.ca/course-materials/my-personalized-course-materials.
Graduate Studies Notes:
Important dates and deadlines for graduate students are found here: http://www.sfu.ca/dean-gradstudies/current/important_dates/guidelines.html. The deadline to drop a course with a 100% refund is the end of week 2. The deadline to drop with no notation on your transcript is the end of week 3.
Registrar Notes:
ACADEMIC INTEGRITY: YOUR WORK, YOUR SUCCESS
SFU’s Academic Integrity website http://www.sfu.ca/students/academicintegrity.html is filled with information on what is meant by academic dishonesty, where you can find resources to help with your studies and the consequences of cheating. Check out the site for more information and videos that help explain the issues in plain English.
Each student is responsible for his or her conduct as it affects the university community. Academic dishonesty, in whatever form, is ultimately destructive of the values of the university. Furthermore, it is unfair and discouraging to the majority of students who pursue their studies honestly. Scholarly integrity is required of all members of the university. http://www.sfu.ca/policies/gazette/student/s10-01.html
RELIGIOUS ACCOMMODATION
Students with a faith background who may need accommodations during the semester are encouraged to assess their needs as soon as possible and review the Multifaith religious accommodations website. The page outlines ways they begin working toward an accommodation and ensure solutions can be reached in a timely fashion.