• Precisely define key terms related to the topics we discuss in the course
• Describe the fundamental problems and tradeoffs associated with climate change, artificial intelligence, inequality, and other topics covered in the course
• Develop rational and well-thought out arguments backing up positions on course topics
• Summarize positions on course topics in well-organized writing

Public economics is the economics of collective decision making and collective
action. This domain of economics research is concerned with both positive and
normative questions. We will study both how collective actions affect the world,
but also which collective actions we should take. As pointed out by David Hume,
moving from "is" to "ought" is a difficult step, and a passing acquaintance with
politics will show that not everyone agrees about which policies are best. The
goal of this course is to deepen students understanding of several important
issues faced by contemporary society, and how collective responses to those
issues which will shape their futures.

The course will be structured around four themes. Each theme will be broken
up into four segments or modules: The core positive economics of the topic,
the normative or welfare economics of the topic, discussion of recent research,
and debate.

1 Taxation
2 Inequality
3 Climate Change
4 AI and automation
 

In relation to Nordic Nine

This course will help students develop several of the Nordic Nine capabilities. By studying public economics and collective decision making, students develop deep business knowledge (NN1) while considering the broader context. They will analyze complex societal issues and recognize humanity's challenges (NN2, NN3). The course encourages critical thinking and data analysis, fostering curiosity about ambiguity (NN2) and the ability to construct well-thought-out arguments (NN6). Students also explore the ethical dilemmas associated with collective action, balancing competitive business interests with compassionate societal goals (NN4, NN5). Through debate and collaboration, they enhance their critical thinking, communication skills, and the ability to summarize positions (NN6, NN8). Moreover, the course emphasizes creating value from global connections for local communities and considering the prosperity of future generations (NN7, NN9).

Readings will be provided to students before each lecture. Sources will include:

-          Lectures on Public Economics, by Joseph Stiglitz and Andrew Atkinson

-          Economic Analysis, Moral Philosophy, and Public Policy, by Daniel Haus-

man and Michael McPherson

-          Reasons and Persons, by Derek Parfit

-         

Relevant research papers will also be assigned, including:

-           Weitzman, Martin L. "On modeling and interpreting the economics of

catastrophic climate change." The Review of Economics and Statistics 91,

no. 1 (2009): 1-19.