December Goals

Questions for December 2006:

1. What are the fundamental theorems of welfare economics?

2. How do externalities affect the outcomes generated by market processes?

3. What are public goods?

4. How does market power affect the outcomes generated by market processes?

5. How do asymmetries of information affect the outcomes generated by market processes?

Core Reading List

Mas-Collell et al, Chapters 10 through 14

Additional Reading:

George Soros, "Open Society"

A.J. Ayer, "Hume"

Mark Ridley, "Mendel's Demon"

Scott Atran, "In Gods We Trust"