The tests will consist of evaluative essay questions and short case-type problems. 5 Students in Economics 643 may download the course slides as they become available. Please note that some of the lectures are still under construction. They will be upgraded and corrected during the course. Should you need a PowerPoint Viewer, you can download one from the site shown below.
Every economic society has to answer certain fundamental questions.
To attain the maximum satisfaction from societal resources, social systems have to answer these questions in the most efficient way possible. This section reviews resource allocation, distribution, stabilization, and growth in a pristine market system. Armed with this brenchmark, the next section attempts to illustrate potential weaknesses in this system as possible justications for public sector intervention. The previous section discussed the efficient allocation of resources in a free market economy. Nevertheless, modern economies allocate huge amounts of societal resources to the public sector.