Economics 494MI - Correcting Market Failures

This course is both an Integrative Experience course and a Civic Engagement course. In it, we will use microeconomic tools to analyze how markets function, how they fail, and how intervention can correct market failures. The basic point of the course will be to answer the following question: What are the market failures that governmental entities or nonprofit organizations attempt to correct? Another way of asking this is: Why doesn't the free market fulfill the needs or provide the services that government or nonprofits do? During the semester, students must do weekly volunteer work for a government agency or private nonprofit organization of their choice. The volunteer work will provide the case studies for answering the above questions.

This class is only open to students whose primary major is Economics. ECON 103 or RES-ECON 102 Open only to juniors and seniors with PRIMARY majors in Econ and lacking the IE requirement, until November 14th, then open to all Econ PRIMARY majors lacking the IE requirement.irement for Econ primary majors
This is a civic engagement course.
This course may be used to fulfill IE requirement for Econ primary major