MGEC51H3 Lecture Notes - Lecture 3: Lump Sum, Unemployment Benefits, Child Care
13 Oct 2014
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Utsc: mgec51h3 week 03 lecture note: tuesday september 16th, 2014. The term paper instruction and guideline is now posted on bb. Exercise questions are in the end of this note. Please read the related topics from other microeconomics textbooks for your own benefits. You have to make your own note from the lecture. Income maintenance schemes: welfare programs, negative income tax, wage subsidy, earned income tax credit, unemployment insurance, workers compensation, childcare subsidies. Income maintenance schemes (ims: designed to help financial hardship of low incomes, canada/quebec pension plan, old age security, employment insurance, federal chid tax benefits, Social assistance, worker"s compensation, etc: governments in canada spend over 10 percent of gdp on ims, no single program can address the multiple reasons for low income, problem of adverse work incentives. Employment insurance: designed to provide temporary income support in the case of job loss. Workers" compensation: temporary income support for a work place-injury.
