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  Michaelmas Term Material 

Welfare Analysis for Public Economics Welfare Analysis for Public Economics Criteria for social judgment. Income, utility and welfare. The ethical basis for redistribution. Rules for comparing economic states. Inequality, happiness and social values.
Welfare analysis: mobility and opportunity Welfare analysis: mobility and opportunity Dynamic evaluation of income distributions, Mobility, meaning and measurement. Models of inequality of opportunity. Lessons for policy.
Wealth distribution and taxation Wealth distribution and taxation The nature and composition of wealth. Comparisons across countries and through time. Models of wealth dynamics. Forms of taxation. The bequest motive and tax responses. Taxation and inequality in the long run.
Policy design: public goods Policy design: public goods The general design problem; relation to social welfare; types of goods and the problem of characterising and implementing an efficient allocation; mechanisms for providing public goods.
Policy design: taxation Policy design: taxation Principles of design for taxation. Information and incentives in an income-tax model. Optimal commodity taxes and the generalised Ramsey rule. Optimal taxation with production. Integration with income taxation: do we need indirect taxes? Informational problems
Behavioural responses: labour supply Behavioural responses: labour supply  
Taxable income responses Taxable income responses  
Optimal income taxes and transfers Optimal income taxes and transfers  

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