IBE316-8 - IBE 316 Economic Policy Stiglitz: Economics of...

Info iconThis preview shows pages 1–6. Sign up to view the full content.

View Full Document Right Arrow Icon
IBE 316 Economic Policy Stiglitz: Economics of the Public Sector Chapter 8: Public Production and Bureaucracy Keisuke OTSU Sophia University FLA Spring 2008 OTSU (Sophia University FLA) IBE 316 Spring 2008 1 / 14
Background image of page 1

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

View Full DocumentRight Arrow Icon
Announcement Midterm Midterm review: Tuesday, June 3rd General review of the course and sample questions for the midterm Midterm: Friday, June 6th OTSU (Sophia University FLA) IBE 316 Spring 2008 2 / 14
Background image of page 2
Overview Focus Questions What is the role of government in production?: The government Why is production in the public sector often less e¢ cient than production in the private sector OTSU (Sophia University FLA) IBE 316 Spring 2008 3 / 14
Background image of page 3

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

View Full DocumentRight Arrow Icon
Overview Government runs/ran the defense, school, postal systems and public utilities such as telecomunications because in many of these cases competition is not viable government provision: NTT, JR (recently privatized) regulation: banks etc. OTSU (Sophia University FLA) IBE 316 Spring 2008 4 / 14
Background image of page 4
Natural Monopoly: Public Production of Private Goods An important market failure that has led to public provision of private goods arises when markets are not competitive Natural monopolies: industries where increasing returns to scale are water electricity natural gas OTSU (Sophia University FLA) IBE 316 Spring 2008 5 / 14
Background image of page 5

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

View Full DocumentRight Arrow Icon
Image of page 6
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 14

IBE316-8 - IBE 316 Economic Policy Stiglitz: Economics of...

This preview shows document pages 1 - 6. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online