There are a lot of problems in the societ. But, not all problems need to be solved by one party, be it just the government or just the market. In this course, you will learn about some perspectives on how a problem come about. This course will discuss the basic concepts of market failures in the context of economics and public policy. In addition, you will gain understanding on a social justice perspective in designing a public policy. Through discussions, case examples, and analysis, you will gain deep insights into market failures and their relevance in public policy, as well as learn to consider the implications of justice in diverse public policies. Lesson Objectives: a. Understanding the concepts and types of market failures. b. Being able to analyze common pitfalls of logical models. c. Identifying alternative public policy options to address market failures. d. Understanding the concepts and theories of social justice, equality, and the root of issues. e. Understanding the positions of power and responsibilities. f. Developing a profound understanding of steps that can be taken to promote justice.
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