Microeconomics: When Markets Fail
About this course
Perfect markets achieve efficiency: maximizing total surplus generated. But real markets are imperfect. In this course we will explore a set of market imperfections to understand why they fail and to explore possible remedies including as antitrust policy, regulation, government intervention. Examples are taken from everyday life, from goods and services that we all purchase and use. We will apply the theory to current events and policy debates through weekly exercises. These will empower you to be an educated, critical thinker who can understand, analyze and evaluate market outcomes.
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- Who stands behind it
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What you'll learn
- understanding market failures
- analyzing real-world market examples
- applying economic theories to current events
- evaluating government interventions
Course objectives
- explore market imperfections
- discuss antitrust policies
- analyze regulation effects
- develop critical thinking regarding market efficiency
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