Description:
The course is an introduction, as complete as possible, to the various aspects of modern Public Economics: welfare economics, externalities and public choice theory, political economy. It first recalls the classical theory of market failures due to externalities and public goods. This part is illustrated by interventions from practionnioners about the regulation of transports, of telecomunications, and of the environment. The course also studies the Economics approaches to welfare and justice, from the empirical and the analytical points of view. It then turns to economic theories of Politics and institutions.
The course is tought in English.

List of topics:
1. Theory of public goods and externalities.
2. Management of public monopolies and regulation.
3. Environmental regulation.
4. Income taxation and redistribution.
5. Empirics on welfare and justice: opinions, experiments.
6. Economic theories of welfare and justice: Bentham and Arrow
7. Equity in practice: Inequality measurement, no-envy.
8. Intergenerational concerns.
9. Economic theory of democracy.

Main references:
A. Mas-Colell, M. Whiston and J. Green, Microeconomic Theory. Oxford University Press;
B. Salanié, The Economics of Market Failures, MIT Press.
M. Fleurbaey, Théories économique de la justice. Economica;
H. Moulin, Cooperative Microeconomics: A Game-theoretic Introduction. Princeton University Press

Course taught in English

Dernière mise à jour : dimanche 20 janvier 2013