LESON5B

LESON5B - Econ 275 - Public Finance - Winter 1994 - 1/20/94...

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Econ 275 - Public Finance - Winter 1994 - 1/20/94 - Lesson #5 - leson5b.275-- Page -- Admin Homework due today: On reading assignments: 50 % penalty per day. Arrange in advance. Tests 20% per day. Hand in at the end of class. List of people for whom I have no constitutional assignment. Next reading assignment: same grading criterion: Hand out Discussion of readings (10 minutes) Ch 3 ( Externalities) Use the discussion of homework to get them engaged. Then on to externalities. Start with asking for examples of externalities--write them down. Then lead into discussion of how in the case of externalites, the market price doesn't fully reflect either the costs or benefits of the particular good. Prices aren't signally things quite right. In every case of which I am aware, this is because property rights are somehow screwed up, typically property rights aren't assigned. Go through the list of externalites just made. Discussion as appropriate--interesting point is that something normally thought of as bad--pollution for example--is
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LESON5B - Econ 275 - Public Finance - Winter 1994 - 1/20/94...

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