Economics 751 Public Economics (Part 1)
Fall 2007
|
Instructor: William H. Hoyt
|
|
Current Class
Assignment
Previous Class
Assignments
(* denotes articles to be discussed in detail in lecture)
Wednesday, September 19, 2007
Today: Theory
of the Second Best: Operationalizing Welfare Measures
Introduction to Optimal Taxation
P. Diamond and D. McFadden, “Some
Uses of the Expenditure Function in Public Finance,” Journal of Public Economics, 1974.
J. Hausman. “Exact
Consumer’s Surplus and Deadweight Loss,” The American Economic Review, 1981.
W. Hoyt, Lecture
10: Welfare Measures and the Evaluation of Policy and The Dual Approach and its Uses in Public Economics
Assignment 2 Data: Food Demand Gas Demand
Lecture
10: Welfare Measures and the Evaluation of Policy
Lecture 11:
Optimal Commodity Taxation
Next Class: Optimal Commodity Taxes
P. Diamond and D. McFadden, “Some
Uses of the Expenditure Function in Public Finance,” Journal of Public Economics, 1974.
P. A. Diamond and J. A. Mirrlees, “Optimal
Taxation and Public Production I: Production Efficiency,” American Economic Review, 1971.
P A. Diamond and J. A. Mirrlees, “Optimal
Taxation and Public Production II: Tax Rules,” American Economic Review, 1971.
August 30, 2007
Topic: The Theory of Public Goods and Externalities
Social Indifference Curves
*K. J. Arrow.
“A Difficulty in the Concept of Social Welfare,” Journal of Political Economy, 1950.
*P. A.
Samuelson. “Social Indifference Curves,” The Quarterly Journal of Economics, 1956.
P. A.
Samuelson. “The Pure Theory of Public Expenditures”, Review of Economics and Statistics, 1954.
J. Gruber, “Public
Goods” Chapter 7 in Public Finance
and Public Policy, Worth, 2007.
Lecture 1:
Normative Analysis and Welfare Economics
Lecture 2:
Efficiency and the Market
Lecture 3:
Social Indifference Curves
September 4, 2007
Topic:
Externalities and Public Policy
W. Baumol.
“On Taxation and the Control of Externalities,” American Economic Review, 1972.
R. Coase “The Problem of Social Cost” Journal of Law and Economics, 1960.
K. Chay and M Greenstone,
“Air Quality, Infant Mortality, and the Clean Air Act of 1970,” NBER Working Paper, 2003.
J. Gruber,
“Externalities: Problems and Solutions” and “Externalities in
Action: Environmental and Health Externalities” Chapters 5 and 6 in Public Finance and Public Policy, 2007.
Lecture
4: Market Failure and Government
Lecture 5: The Problem of Social Costs: Private and Public Solutions
Lectures
Lecture 1:
Normative Analysis and Welfare Economics
Lecture 2:
Efficiency and the Market
Lecture 3:
Social Indifference Curves
Lecture
4: Market Failure and Government
Lecture
5: The Problem of Social Costs: Private and Public Solutions
Lecture
6: Private Provision of Public Goods and
Neutrality
Lecture
7: Empirical Studies of Public Policy
and Private Contributions
Lecture 8:
Preference Revelation Schemes for Public Goods
Lecture 9:
Estimating the Demand for Public Goods
Lecture
10: Welfare Measures and the Evaluation of Policy
Lecture
11: Optimal Commodity Taxation
Lecture
12: Some Basics on the Theory of Optimal Income Taxation
The Dual
Approach and its Uses in Public Economics
Assignment 1 Solutions