{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

IBE316-3-2 - IBE 316 Economic Policy Stiglitz Economics of...

Info iconThis preview shows pages 1–5. Sign up to view the full content.

View Full Document Right Arrow Icon
IBE 316 Economic Policy Stiglitz: Economics of the Public Sector Chapter 3: Market E¢ ciency (part 2) Keisuke OTSU Sophia University FLA Spring 2008 OTSU (Sophia University FLA) IBE 316 Spring 2008 1 / 12
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Announcement Slides Slides are currently available at moodle Go to °FLA International Business and Economics± and look for °IBE316: Economic Policy (OTSU)± They are also available at my personal web OTSU (Sophia University FLA) IBE 316 Spring 2008 2 / 12
Background image of page 2
Review Focus Questions What do economists mean when they say the economy is e¢ cient? What conditions have to be satis²ed if markets are to be e¢ cient? Why is there a general presumption that competitive markets result in e¢ ciency? OTSU (Sophia University FLA) IBE 316 Spring 2008 3 / 12
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Review Settings A perfect world perfect competition perfect information (everybody knows the prices) no externalities In order to analyze the real world, we want to analyze the perfect world and then consider the di/erences between the two OTSU (Sophia University FLA) IBE 316 Spring 2008 4 / 12
Background image of page 4
Image of page 5
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}