14.01SC | Fall 2011 | Undergraduate

Principles of Microeconomics

Unit 7: Equity and Efficiency

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The analysis of competitive markets is based on the stated goal of efficiency, or the maximization of social welfare. This ignores potential concerns about equity, the distribution of benefits among the participants in a market economy. In this unit, you will begin to learn about policies that seek to address the balance between efficiency and equity, and what their pros and cons are. These policies include tax and transfer systems, social insurance, and healthcare.

  Equity and Efficiency

  Image courtesy of Vince_Lamb on Flickr.

  Government Redistribution Policy

  Image courtesy of Ed Marshall on Flickr.

  U.S. Social Insurance Programs

  Image courtesy of wisaflcio on Flickr.

  Healthcare Economics

  Image courtesy of University of Nottingham on Flickr.

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Fall 2011
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