General Equilibrium Framework for Policy EvaluationIssues in Public Economics
Lecturer: Professor Sugata Marjit (Centre for Studies in Social Sciences, Calcutta (CSSSC) India; Centre for Training and Research in Public Finance and Policy at CSSSC; GEP, University of Nottingham UK; CES-Ifo, Munich, Germany)
Date: July 11, 2018
Venue: TU Dresden, Georg-Schumann-Bau, Münchner Platz 1-3, 01187 Dresden
Registration: until July 4, 2018 via e-mail: firstname.lastname@example.org
Course requirements: tba
Announcement see pdf
This short course intends to develop simple general equilibrium(GE) models to evaluate wide range of contemporary economic policies and related mechanisms. This approach demonstrates how GE theory analytically helps in clarifying critical policy outcomes. In particular we emphasize how partial equilibrium results may drastically differ from GE type results and pinpoint possible policy mistakes or failed outcomes. Emphasis will be on examples drawn from the well known current events such as BREXIT and US protectionism.
Schedule (Thursday, July 11, 2018)
Lecture 1: 09:20-10:50 (SCH B 37)
– Mathematical Foundation of simple general equilibrium models
– Partial equilibrium. vs general equilibrium outcomes
– Finite Change
Lecture 2: 11:10-12:40 (SCH B 37)
– Applications 1
– Minimum wage
– Shadow economy
Lecture 3: 14:50-16:20 (SCH B 37)
– Applications 2
– Restricted immigration
– Environmental issues
– Chaudhuri and Mukhopadhyay (2010). Revisiting the Informal Sector, Springer, Chapter 2.
– Findlay and Jones (2000). Factor Bias and Technical Progress, Economics Letters 68(3), 303-308.
– Beladi, Chakrabarty and Marjit (2016). Competitive General Equilibrium with Finite Change and Theory of Policy Making, Economics and Politics 28 (1), 1-7.
– Marjit (2003). Economic Reform and Informal Wage – A General Equilibrium Analysis,-Journal of Development Economics-72(1), 371-378.
– Marjit and Kar (2011). The Outsiders-Economic Reform and Informal Wage in a Developing Economy, Oxford University Press.
– Marjit and Mandal (2012). Domestic Trading Costs and Pure Theory of International Trade, International Journal of Economic Theory- 8 (2), 165-178.
– Marjit, Kar and Beladi (2007). Protectionary Bias in Agriculture – A Pure Economic Argument, Ecological Economics-63(1), 160-164.
– Beladi, Marjit and Oladi (2018). Protectionism and Wages, mimeo.
– Das and Marjit (2018). Skill, Innovation and Wage Inequality – Can Immigrants be the Trump Card?, mimeo.