The role of the government is multifold, from providing public goods to intervening in market failures. Additionally, some policies are motivated by paternalistic concerns of citizens not acting in their own best interest. Through a mix of theory, experiments, and empirical analysis, we will cover methods of assessing individual and societal welfare, the identification and measurement of consumer biases, and theories of when and how the government should intervene in the economy. We will cover topics such as taxation, education, savings, and insurance, and the policies and nudges designed to implement these goals. Not offered 2022-23.
The online version of the Caltech Catalog is provided as a convenience; however, the printed version is the only authoritative source of information about course offerings, option requirements, graduation requirements, and other important topics.