ECONĀ 5500 Public Sector Microeconomics: 3 semester hours

Same as P P ADM 6210. Prerequisites: ECON 3001 or BUS AD 5001 and P P ADM 6080. Application of tools of intermediate microeconomics to address public sector issues. Special emphasis is placed on critically analyzing current public policy debates using the models developed. Topics covered include: cases in which competitive market fails to allocate resources efficiently (e.g. externalities and public goods), importance of property rights, incentive effects of the tax and transfer system, and the fundamentals of cost-benefit analysis.