MATH 101 Lecture Notes - Lecture 7: Market Failure, Environmental Policy, Information Please
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Ta"s eadomait@uoguelph. ca, pmartin@uoguelph. ca: adomait - mackinnon 728, ext. Class schedule: martin section *01 mwf 9:30 to 910:20 am thorn 1200. Adomait section *02 mwf 4:30 to 5:20 pm wmh 103. Adomait section *03 mwf 11:30 to 12:20 pm rozh 104. Market economies primarily rely upon the price system as a means of allocating resources in the non- governmental sector of the economy. The objective of introductory microeconomics is to develop in students an understanding and appreciation of this price system. The course will survey the strengths and weaknesses of the market economy, as well as the successes and failures of government intervention in the market. A solid foundation of basic theory is required in order to evaluate the strengths and weaknesses of the market system. Once students have acquired facility in handling these analytical tools, attention will turn towards issues of public policy such as marketing boards, competition policy, environmental policy, and trade policy.
