Unit 7: Public Finance, Public Choice, and the Environment
In this unit, we explore the role of the government in producing those goods and services that the market system is unable to produce in an efficient way, like police and emergency services. The study of the environment is also covered in this unit with particular attention to public solutions to environmental problems. The rational voter is also studied in this unit for understanding how public choices are made. Lastly, the Coase Theorem is covered to learn how property rights can be defined as tool for solving environmental problems or other market failures.
Completing this unit should take you approximately 9 hours.
7.1: Public Finance and Public Choice
7.2: Environmental Economics
7.3: Coase Theorem