The Role of Markets and Incentives

Description

This course focuses on a few first principles of economics with the aim of understanding 1) how markets work, 2) the normative significance of markets as a non-coercive and cooperative form of social interaction, 3) circumstances under which the normative significance and efficacy of market outcomes might be questioned (so-called \"market failure\"), and 4) problems associated with government intervention to remedy \"market failure\" and other perceived ills (so-called \"government failure\"). Math proficiency at the basic university level is assumed.