Public Economics Tutorial

Author: (Canada) John Leach
Publisher:
Publish Date: 2005-08-01
Features: This book discusses the two fundamental theorems of welfare economics in part. These two fundamental theorems demonstrate that competitive markets can lead to socially satisfactory outcomes and describe the necessary conditions. The second part of the book discusses various types of market failures that arise when these conditions are not met—externalities, public goods, imperfect competition, and information asymmetry. It examines the role of government in addressing market failures and also investigates the limitations of government actions, particularly those arising from information asymmetry. The author, John Leach, is a professor of economics at McMaster University in Hamilton, Ontario, Canada. His articles have been published in many renowned journals, such as the Journal of Political Economy, the Journal of Economic Theory, the Journal of Public Economics, the Review of International Economics, the Journal of Canadian Economics, the Journal of Labor Economics, Canadian Public Policy, and the Journal of Economic Dynamics and Control. Instructors using this book as a textbook can obtain additional teaching resources, including solutions to the end-of-chapter exercises. These materials can be accessed through the following website: www.socsci.mcmaster.ca/leach.