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Microeconomics: When Markets Fail
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Английский
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- Self-paced
- Free Access
- Fee-based Certificate
- 5 Sequences
- Introductive Level
- Субтитры доступны на Mongolian
Course details
Syllabus
- Week 1 - Costs and Profits + Perfect Competition
In the first part of the course we learnt that if we allow market forces to work we reach an efficient outcome: the maximum benefit that can be generated by a market. The second part of the course explores cases where the markets fail to accomplish our goals. ... - Week 2 - Monopoly
A monopoly is a case where there is only one firm in the market. We will define and model this case and explain why market power is good for the firm, bad for consumers. We will also show that society as a whole suffers from the lack of competition. - Week 3 - Monopoly Continued
Monopolies come in various types: one price monopoly, natural monopoly, price discrimination and monopolistic competition. This week we will expand the basic monopoly model to cover these cases and then explore market outcomes in each case. We will also discus... - Week 4 - Externalities + Public Goods
Two classic cases of market failure will be defined and explored: externalities and public goods. We will define each case, demonstrate why the market fails to provide the efficient outcome and suggest interventions through either marked design or regulation. - Week 5 - Asymetric Information and Inequlity
Up to this point we assumed that there is full information in the market. We are now ready to relax this assumption as we introduce the concepts of moral hazard and adverse selection. We learn that asymmetric information may lead to market failure and we discu...
Prerequisite
None.
Instructors
Rebecca Stein
Senior Lecturer
Economics
Editor
L'université de Pennsylvanie (communément appelée Penn) fondée en 1740 est une université privée située à Philadelphie, en Pennsylvanie, aux États-Unis. Membre de l'Ivy League, Penn est la quatrième plus ancienne institution d'enseignement supérieur des États-Unis et se considère comme la première université des États-Unis à proposer des études de premier et de deuxième cycle.
Platform
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