Public Economics

Numbering Code U-ENG23 33085 LJ73 Year/Term 2021 ・ First semester
Number of Credits 2 Course Type Lecture
Target Year Target Student
Language Japanese Day/Period Thu.2
Instructor name MATSUSHIMA KAKUYA (Graduate School of Engineering Associate Professor)
YOKOMATSU MUNETA (Disaster Prevention Research Institute Associate Professor)
Outline and Purpose of the Course "The aim is to learn basic concepts of microeconomics and understand concepts related to the theory of evaluation of social infrastructure projects. For this purpose, a relatively detailed lecture will be conducted on the basic concepts of microeconomics, as well as the concepts concerning market functions, the behavior of economic agents, and the evaluation of social welfare. Next, market failure and how to deal with it will be explained. At that time, the economic characteristics of infrastructure and general cost benefit analysis as a method of evaluation will be explained.
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Course Goals Mastering the basic concepts of microeconomics and understanding concepts related to the theory of the evaluation of infrastructure projects
Schedule and Contents "Outline and public role (1 time): The outline of this lecture and the public role will be explained.
Consumer behavior model (2 times): The consumer behavior model will be described in detail. In particular, after describing the preference, utility, utility maximizing behavior of households, the nature of the demand function, the compensation function, the Slutsky equation, and the aggregate demand function will be described. Furthermore, the type and nature of households' welfare measures will be explained. Text 2
Practice on consumer behavior (1 time): A practice of the above two lectures will be conducted.
Corporate behavior model (2 times): The behavioral model of a company will be explained. First, technology, production function, profit maximization behavior, and cost minimization behavior will be explained as basic knowledge. Next, the nature and points of cost and supply functions will be described in detail, and the market structure and corporate behavior will be explained. Text 3
Practice of company behavior (1 time): A practice of the above two lectures will be conducted.
Market of perfect competition (1 time): The markets of perfect competition will be explained. Additionally, differences between general equilibrium analysis and partial equilibrium analysis, and the concept of Pareto efficiency will be described in detail. Text 4
Market of imperfect competition (1 time): The characteristics of markets of imperfect competition, such as monopolistic markets and oligopolistic markets, and factors that cause monopolies and regulations as countermeasures will be explained. Text 5
Indicator of economic valuation (1 time): Various indicators necessary for measuring benefits, such as consumer surplus, producer surplus, social surplus, compensation variance, and equivalent variance will be described. Text 7
Externality (1 time): The generation mechanism of externality and its types, and the internalization policy of externality will be explained. Text 14.1
Public goods (1 time): The nature of public goods and Samuelson conditions will be explained. Text 6
Practice of market and externality (1 time): A practice of the above five lectures will be conducted.
Cost-benefit analysis (1 time): Regarding the concept of cost-benefit analysis, the concepts of cost and benefit, as well as the social discount rate and evaluation index will be explained, and the difference with financial analysis and methods for quantifying benefits will be described in detail. Additionally, from the viewpoint of engineer ethics, the state of project evaluation will be discussed. Texts 8 and 9
Feedback (1 time): Confirming the degree of achievement regarding the contents of this lecture"
Evaluation Methods and Policy Periodical tests, reports, and attendance are comprehensively taken into consideration. (Periodic tests: 70 to 80%; reports and attendance: 20 to 30%)
Course Requirements It is desirable that students have taken the course of planning system analysis and practice.
Study outside of Class (preparation and review) It is advisable to read the corresponding parts of the textbook in advance.
Textbooks Textbooks/References 公共事業評価のための経済学, 石倉智樹・横松宗太, (コロナ社), ISBN:9784339056402
Hal R. Varian: Intermediate Microeconomics: A Modern Approach, Nineth Edition, W. W. Norton & Company, 2014 isbn{}{9780393919677}
References, etc. 知識社会と都市の発展, 小林潔司, (森北出版), ISBN:4627494610
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