Industrial and public economics

Course ID
Ǻbo Akademi University

Industrial and public economics (5 credits)

The planning for the next academic year is still open, and it is possible that a module of the following type will replace the module in (pure) industrial organisation. The following outline is highly tentative.

General description
The module includes 22h lectures (prof. Johan Willner?), 10h classes (Dr. Sonja Grönblom?) and 6h seminars (including the February seminar organised by EUsers) during the Lent term (first part of the Spring term). Students shall write an exam paper, solve 10-12 exercises and present a short essay at a seminar. The exam paper is based on the lectures, classes and chapters in the textbooks [yet to be chosen]. The course language is English.
The module is targeted at students at the Master’s level. They should have finished the modules ‘Mathematics for economists’, and preferably also ‘Microeconomic theory’ for the Master’s level.

Content
1. The relationship between Pareto efficiency and a competitive equilibrium. The fundamental theorems of welfare economics.
2. Collective choice. Social welfare functions and the Arrow paradox.
3. Market failures. Externalities, asymmetric information, public goods, imperfect competition, and the role of transaction costs.
4. Addressing market failures under private ownership. Pigou-taxes, regulation, competition policy.
5. Addressing market failures and administrative failures under public ownership. Public provision of public and private goods, privatisation, liberalisation, and work motivation and efficiency in different types of organisations.

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