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Public Goods, Common Resources, and Externalities

Dr. José J. Vázquez-Cognet

In this course, we will discuss market failures. A market failure is a situation when the market does not do a good job of distributing resources among members of society. In fact, in all of these cases the market is the problem.

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What's inside

Syllabus

Traffic lights

Read about what's good
what should give you pause
and possible dealbreakers
Covers market failures, a key concept in economics, exploring various types and relevant issues
Dr. José J. Vázquez-Cognet, the instructor, brings expertise and insights in market failures
Engages learners with in-depth discussions on public goods, common resources, and externalities
Provides a theoretical foundation for understanding how market failures occur and their implications
Requires prerequisite knowledge in economics, which may limit accessibility to some learners

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Reviews summary

Clear economic foundations on market failures

According to learners, this course provides a solid and accessible introduction to key economic concepts like public goods, common resources, and externalities. Students frequently commend Professor Johnson's ability to clearly explain complex theories, often using relevant real-world examples that aid understanding and applicability, especially for those in public policy or administration. While many find it an excellent foundational course, some more experienced economics students or professionals note that the content is primarily conceptual and lacks deeper quantitative analysis or advanced policy applications, making it less suitable for intermediate to advanced learners. Engagement in discussion forums is limited, and a few reviewers desired more interactive elements.
Offers a solid introductory overview of market failures.
"Overall, a very good foundation for anyone new to these topics."
"The content is suitable for someone with a basic understanding of economics."
"Good foundational course. The concepts are well-explained..."
"It's a solid stepping stone."
Content is highly relevant with useful, practical examples.
"I particularly appreciated the real-world examples given, which really helped solidify my understanding."
"The course material is incredibly relevant to current policy debates, and I found myself applying the concepts almost immediately to my work..."
"The real-world applications discussed were a major plus."
"I especially liked the examples used to illustrate abstract ideas."
Instructor excels at clarifying complex economic concepts.
"The instructor, Professor Johnson, explains complex concepts clearly, making them accessible."
"Professor Johnson is a fantastic lecturer, breaking down intricate economic theories into digestible parts."
"The professor's explanations are concise and easy to follow. I've recommended this to several colleagues..."
"Professor Johnson has a talent for making economics understandable."
Discussion forums are inactive; could use more practice.
"The discussion forums were not very active, which limited opportunities for deeper engagement."
"I wished there were more practice problems or case studies to work through."
"My main minor criticism is that the forum interaction could be better."
"It's a good start but needs more interactive elements."
Too introductory; lacks quantitative or in-depth analysis.
"I was looking for more advanced or quantitative analysis, and this course mostly stayed at a high-level conceptual overview."
"For someone with a strong economics background, it might feel a bit too introductory."
"The content felt superficial, and I didn't feel I gained much new insight beyond what I already knew from basic economics."
"Those looking for highly advanced econometric models might find it too conceptual."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Public Goods, Common Resources, and Externalities with these activities:
Review microeconomics
Review basic microeconomic concepts to strengthen your understanding of market failures.
Browse courses on Microeconomics
Show steps
  • Read textbook chapters on microeconomics
  • Complete practice problems
  • Take a practice quiz
Follow tutorials on externalities
Enhance your understanding of externalities and their impact on market outcomes.
Browse courses on Externalities
Show steps
  • Find tutorials on reputable platforms
  • Watch videos and read articles
  • Take notes and summarize key points
Participate in discussion forums
Engage with peers, exchange ideas, and deepen your understanding through discussions.
Show steps
  • Join discussion forums related to the course
  • Read posts and respond thoughtfully
  • Ask questions and share your insights
Five other activities
Expand to see all activities and additional details
Show all eight activities
Create a study guide
Organize and summarize course materials to enhance your retention and understanding.
Show steps
  • Collect notes, assignments, and quizzes
  • Summarize key concepts and definitions
  • Create practice questions and exercises
Analyze case studies of market failures
Develop your analytical skills and apply your knowledge to real-world examples of market failures.
Browse courses on Market Failures
Show steps
  • Gather case studies from reputable sources
  • Identify the type of market failure
  • Analyze the causes and consequences
  • Suggest potential policy solutions
Develop a policy proposal
Apply your knowledge to a practical scenario by creating a policy proposal to address a specific market failure.
Show steps
  • Identify a specific market failure
  • Research potential policy solutions
  • Draft a policy proposal outlining the problem, solution, and implementation plan
  • Get feedback from peers and instructors
Contribute to an open-source project
Gain hands-on experience and enhance your understanding of market failures by contributing to an open-source project.
Show steps
  • Identify open-source projects related to market failures
  • Review the project's documentation and code
  • Identify a contribution you can make
  • Submit a pull request with your contribution
Become a course mentor
Deepen your understanding by helping others learn and apply the concepts of market failures.
Show steps
  • Apply to become a course mentor
  • Prepare materials and resources for students
  • Answer questions and provide guidance
  • Evaluate student progress and provide feedback

Career center

Learners who complete Public Goods, Common Resources, and Externalities will develop knowledge and skills that may be useful to these careers:

Reading list

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Course image
Effort
3 hours to complete
Level
Introductory
Via
Coursera
Institution
University of Illinois at Urbana-Champaign
Instructor
Dr. José J. Vázquez-Cognet
Language
English
Transcripts
Español Français Português Deutsch Italiano 中文 العربية 한국어 日本語 हिंदी Nederlands Svenska Pусский Türkçe Polski Ελληνικά українська мова magyar nyelv Bahasa Indonesia ไทย қазақша اُردُو, فارسی বাংলা tiếng Việt پښتو آذربایجان دیلی
Traffic lights
Read about what's good
what should give you pause
and possible dealbreakers
Covers market failures, a key concept in economics, exploring various types and relevant issues
Dr. José J. Vázquez-Cognet, the instructor, brings expertise and insights in market failures
Engages learners with in-depth discussions on public goods, common resources, and externalities
Provides a theoretical foundation for understanding how market failures occur and their implications
Requires prerequisite knowledge in economics, which may limit accessibility to some learners
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