Twilight and PD Event Resources

Modified Markets Inspirations

Presenter:  Dr. Axel Wieneke - UQ Lecturer in Financial Institutions Management (Money and Banking) and Macroeconomics
Date & Time:  Wednesday 13/07/22 5.15 pm (45 minutes)

The core of economics education as well many people’s beliefs is that markets work best and that government interventions leads to inferior results. Economics provides a strong analytical framework to proof the superiority of the market as well. However, even Adam Smith emphasised that certain goods should be provided by the government.

This workshop focuses upon situations where the free-market solution is inefficient and government interventions are required to achieve efficient production and consumption.

• What are the fundamental characteristics of goods and market structures that cause market failures?
• How can we approach these situations such that students can discover the problems and solutions themselves?