Chapters 10 and 11: Externalities and Public Goods

In this video, I discuss the economics of positive and negative externalities, the Coase Theorem, tradeable permit systems, and public goods.

What's the right amount of pollution? 0:44
Externalities 3:00
Negative externalities 4:00
Positive externalities 6:55
Analysis of a negative externality 9:40
External costs 13:53
Market failure 17:55
Analysis of a positive externality 19:07
External benefit 21:14
What causes externalities? 24:02
Private solutions to externalities 27:55
Coase Theorem 32:43
Government remedies to externalities 36:29
Pigouvian tax 36:36
Command and control 43:08
Market-based systems 44:04
Tradable permit system 44:19
Types of good 47:20
Rivalry 47:29
Excludability 48:21
Private goods 49:20
Public goods 50:19
Free rider effect 52:45
Quasi-public goods 53:25
Common resources 54:13
Demand for a public good 55:51
Efficient level of a public good 1:00:45
Common resources 1:02:35
Tragedy of the commons 1:03:00