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Behavioural responses: labour supply Behavioural responses: labour supply  
Behavioural responses: taxable income Behavioural responses: taxable income  
Incidence Incidence  
Policy design: social insurance Welfare analysis, distribution and inequality Criteria for social judgment. Income, utility and welfare. The ethical basis for redistribution. Rules for comparing economic states. Inequality, happiness and social values.
Policy design: social insurance 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. Wealth and top incomes – recent evidence. Models of wealth dynamics. Forms of taxation. The bequest motive and tax responses. Taxation and inequality in the long run.
Wealth distribution and taxation Externalities and Public Goods The design problem and its relation to social welfare; types of goods and the problem of characterising and implementing an efficient allocation; mechanisms for providing public goods. Global Public goods Property rights and the Coase Theorem. Regulation

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