Learn · Economics of Public Policy
Lecture 43 of 60Week 9
Risk Loving, Risk Neutral and Marginal Utility
Prof. Debdulal Saha · IISER Mohali
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- Economics of Public Policy, IISER Mohali (at NPTEL)
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All the lectures
- Introduction to public policy Definition, nature and types, linkages
- Policy making process agenda setting, policy stages, and disciplinary lenses
- Economics and public policy
- Principles of economics and public policy - I
- Principles of economics and public policy - II
- Concepts of economics and its applications to public policy
- Macroeconomic components National output, savings, consumption and investment
- Economic growth and policy Accumulation process and Harrod Domar Model
- Neoclassical economic growth and policy Solow model growth
- Economic Methods, Tools and Techniques in understanding problems and designing public policy
- Utility, Choice and Equilibrium
- Budget and Resource Constraint
- Public Policy as a “Commodity” Demand, Supply and Equilibrium
- Factors Influencing Demand and Supply and Types of Goods
- Price Effects, Income Effects and Substitution Effects
- Production and Producer's Behaviour in Public Policy
- Importance of Cost and Supply Function
- Price Elasticity: Demand and Supply
- Social Efficiency: Consumer Surplus and Producer Surplus
- Social Efficiency: Market Failure and Deadweight Loss
- Pareto Efficiency and Economic Efficiency
- Market Structure Perfect Competition and Monopoly
- Pricing Strategy and Measuring Market Power
- Market Failure and Role of Government
- Types of Good Public, Private, Club and Common Resources
- Externality Theory: Economics of Negative Externalities
- Economics of Positive Externalities
- Addressing Externality: Coase Theorem
- Coasian Solution and Problems
- Public Sector Solution: Corrective Taxation and Subsidies
- Price and Quantity Approaches to Address Externalities
- Market for Pollution Reduction and Efficient Control of Pollution
- Costs and Benefits with Uncertainty
- Role of Government in Practice
- Social Welfare and Measuring Future Cost and Benefits
- Trade off Between Efficiency and Equity, and Social Choice
- Role of Government in Production, Natural Monopolies and Government Failure
- Public Choice
- Individual Choice, Preferred Level of Government Expenditure, and Utility
- Majority Voting, Arrow’s Impossibility Theorem and Median Voter Theorem
- Uncertainty and Expected Utility
- Choice, Uncertainty, and Risk Aversion
- Risk Loving, Risk Neutral and Marginal Utility
- Risky Assets and Trade off between Risk and Return
- Role of Information Adverse Selection, Market for Lemon Principles and Moral Hazard
- Macroeconomic Aggregate Demand, Multiplier and Equilibrium Output
- Government Expenditure, Balanced Budget Multiplier
- Budget, Policy and Crowding-out
- Fiscal Market and Fiscal Policy
- Money Market, Monetary Policy and Its Interaction with Fiscal Policy
- Taxation Structure, Types and Characteristics
- Economic Impacts of Taxation and Tax Rates
- Economic Effects of Taxation
- Taxation, Equity and Fairness
- Tax Incidence and Effects of Elasticity
- Tax Incidence Under Imperfect Competition
- Tax, Price Level and Tax Incidence Under General Equilibrium
- Tax, Economic Efficiency, Elasticity and Economic Burden
- Optimal Taxation Ramsey's Taxation
- Taxation in Practice