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Economic Efficiency and Its Obstacles

Economic Efficiency and Its Obstacles

This course is part of Principles of Microeconomics Specialization

Instructor: Pearson

Included with Learn more

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1 module

Gain insight into a topic and learn the fundamentals.

Beginner level

Recommended experience

5 hours to complete

Flexible schedule

Learn at your own pace

1 module

Gain insight into a topic and learn the fundamentals.

Beginner level

Recommended experience

5 hours to complete

Flexible schedule

Learn at your own pace

What you'll learn

Evaluate the efficiency and fairness of market outcomes and different methods for allocating scarce resources.
Analyze the effects of government interventions, such as taxes and price controls, on market efficiency and equity.

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This course is part of the Principles of Microeconomics Specialization

When you enroll in this course, you'll also be enrolled in this Specialization.

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There is 1 module in this course

This course will equip you to analyze how market interventions like price controls and taxes affect economic efficiency. You will learn to calculate consumer and producer surplus, identify the sources of deadweight loss, and evaluate the fairness and impact of different tax systems on wages and prices. Mastering these skills will enable you to assess the real-world consequences of government policies and understand the critical trade-off between efficiency and equity in resource allocation.

This course will take us through the intricacies of resource allocation, emphasizing how market interventions and taxes influence efficiency. We will delve into allocation types and see how actions like price ceilings or price floors create deadweight losses, reflecting efficiency costs. The course also covers tax incidence and the real bearers of taxation consequences. Finally, we will conclude with a debate on tax fairness, encouraging students to contemplate the equilibrium between efficiency and equity in taxation.

What's included

1 video2 assignments3 app items4 plugins

1 videoTotal 2 minutes

Economic Efficiency and Its Obstacles2 minutes

2 assignmentsTotal 120 minutes

Graded Quiz60 minutes
Practice Quiz60 minutes

3 app itemsTotal 135 minutes

Reading: Efficiency and Fairness of Markets pp. 141-16950 minutes
Reading: Government Actions in Markets pp. 171-19240 minutes
Reading: Taxes pp. 193-21645 minutes

4 pluginsTotal 20 minutes

Interactive: Types of Allocation5 minutes
Interactive: Binding Price Ceiling and Deadweight Loss5 minutes
Interactive: Tax Incidence Effects5 minutes
Interactive: Fairness in Taxes5 minutes

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Instructor

Pearson

152 Courses179 learners

Offered by

Pearson

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Frequently asked questions

Yes, you can preview the first video and view the syllabus before you enroll. You must purchase the course to access content not included in the preview.

If you decide to enroll in the course before the session start date, you will have access to all of the lecture videos and readings for the course. You’ll be able to submit assignments once the session starts.

Once you enroll and your session begins, you will have access to all videos and other resources, including reading items and the course discussion forum. You’ll be able to view and submit practice assessments, and complete required graded assignments to earn a grade and a Course Certificate.