Chapter 1 notes Definition of Economics The first thing that we should discuss is the definition of "economics." Economists generally define economics as the study…

Slide 1Tutorial 2 Elasticity Slide 2 Elasticity 1 The price of orange falls from 15B to 10B per kilogram and the quantity demanded goes from 100,000 to 200,000 kilograms.…

Slide 1Lecture: Role of Government Chapter 19 Slide 2 Outline Types of Government Intervention Types of Goods Reasons for Public Intervention Government Failure Slide 3 Recap…

Slide 1Lecture 3 Public Goods and Government intervention Suggested Readings: Connolly & Munro, The economics of the public sector, chapter 4 Slide 2 Market failures…

Slide 1Public Goods1 Cooperation and Public Goods Provision A basic design Determinants of voluntary cooperation Marginal private benefits Group size Communication Why do…

Slide 1MARKET FAILURE (Part 2) ECONOMICS – A COURSE COMPANION Blink & Dorton, 2007. p135-146 MICROECONOMICS Slide 2 TYPES OF MARKET FAILURE The existence of externalities…

1. EXTERNALITIES Presented by: Nida Nafees And Fatima Naseem Khan 2. INTRODUCTION:  Externalities occur when producing or consuming a good causes an impact on third parties…

Unit 6: Market Failures and the Role of the Government * Review 1. What is an Externality? When EXTERNAL benefits or external costs are on someone other than the original…

Cooperation and Public Goods Provision A basic design Determinants of voluntary cooperation Marginal private benefits Group size Communication Why do people cooperate? Strategic…