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LMU Public Economics - 4420

This is the Fall 2024 course syllabus and website for Loyola Marymount Economics 4420- Public Economics.

This page serves as the living syllabus for the course. It will be continuously updated throughout the semester. Please check it regularly. If you are not viewing this syllabus through my website, please visit:

https://gregcleo.com/3.Teaching/econ4420.html

Textbook

The Class Notes are the official textbook for the course. I will update it throughout the semester.

Updates

12/8/2024 Fixed typo on solution 15.3!

12/10/2024 Clearly marked key topics not on final!

Description

This course explores the theoretical and practical aspects of making choices that affect several/many people. Students will analyze how collective preferences can be constructed from individual preferences, and how to make choices that respect these collective preferences. In the latter half of the course, we focus on strategic interactions and game theory, applying these tools to understand when and how intervention can help improve societal outcomes.

Mathematical Rigor

The only mathematical pre-requisite for this course is multivariate calculus. I will draw on tools from other areas of mathematics, but I will introduce these tools to you as we learn. I emphasize intuition and deep understanding over the mechanical process of solving problems.

Grading

There will be one midterm and a final exam. They are tentatively placed in the schedule below. Grading will be based 30% on the midterm exam, 50% on the final exam, and 20% on homework.

Policies

The Academic Honesty policies apply to this course. For policies regarding accommodations and disabilities, please see the DSS website.

Times

Class Meetings: Tuesday/Thursday 1:45-3:25 (UNH 3222) or 3:40-5:20 (UNH 2228)

Greg's office hours: Tuesday/Thursday 11-12pm in University Hall 4225 or by Appointment.

Homework

Homework 1. (Due 9/12) Exercises from Chapters 1,2.

Homework 2. (Due 10/8) Exercises from Chapters 3-6.

Homework 3. (Not Due) Exercises from Chapters 7-9.

Homework 4. (Due 11/12) Exercises from Chapters 10-11.

Homework 5. (Not Due) Exercises from Chapters 12-15.

Exams

10/17/24 Midterm Covering Chapters 1-9.

Raw Lecture Notes

8/27/24 Appendix Chapter A Optimization

8/29/24 Exercises from Chapter A Optimization Raw Notes from 8/29.

9/3/24 Chapter 1: Preferences Raw Notes from 9/3.

9/5/24 Chapter 1/2: Preferences and Utility Raw Notes from 9/5.

9/10/24 Chapter 3: Framework Raw Notes from 9/10.

9/12/24 Chapter 4: Pareto Efficiency Raw Notes from 9/12.

9/17/24 Chapter 4-5: Pareto Efficiency and Social Preferences Raw Notes from 9/17.

9/19/24 Chapter 5: Preference Aggregation Rules Raw Notes from 9/19.

9/26/24 Chapter 6: Preference Aggregation Properties Raw Notes from 9/26.

10/01/24 Chapter 7-8: Social Choice Functions Raw Notes from 10/1.

10/08/24 Chapter 9: Strategic Voting Raw Notes from 10/8.

10/10/24 Chapter 10: Welfare Functions Raw Notes from 10/10.

10/15/24 Review Raw Notes from 10/15.

10/22/24 Chapter 10: Welfare Functions Raw Notes from 10/22.

10/24/24 Chapter 10: Welfare Functions Raw Notes from 10/24.

10/29/24 Chapter 11: Randomization Raw Notes from 10/29.

10/31/24 Chapter 11: Randomization Raw Notes from 10/31.

11/05/24 Chapter 12: Game Theory Raw Notes from 11/5.

11/07/24 Chapter 13: Public Goods Raw Notes from 11/7.

11/12/24 Chapter 13: Public Goods Raw Notes from 11/12.

11/14/24 Chapter 14: Public Goods Raw Notes from 11/14.

11/19/24 Chapter 14: Public Goods Raw Notes from 11/19.

11/21/24 Chapter 15: Mechanism Design for Public Goods Raw Notes from 11/21.

12/3,5/24 Review 1:45 Class.

12/3,5/24 Review 3:40 Class.

Old Exams

Fall 2024 Midterm

Fall 2024 Midterm Solution

Resources

Need to review derivatives?

Review Sheet

Practice Problems

Solutions