Economic Growth and Distributive Justice Part II - Maximize Social Wellbeing

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Beschrijving

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About this course: If you really care about the big questions in the economies and societies of the 21st century, such as distributive justice - namely, inequality of income or wealth, and its correlation with economic growth - this course is meant for you. The knowledge you will gain can truly change your outlook on our world. "Economic Growth and Distributive Justice - Maximizing Social Wellbeing" is the second part of a two part course and it includes the following five lectures: (1) The excess burden of taxation (2) Tax incidence: who bears the economic burden of tax? (3) Progressivity: definition and ways to achieve (4) Low Income, Low Ability and the Optimal Income Tax Model (5) D…

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When you enroll for courses through Coursera you get to choose for a paid plan or for a free plan

  • Free plan: No certicification and/or audit only. You will have access to all course materials except graded items.
  • Paid plan: Commit to earning a Certificate—it's a trusted, shareable way to showcase your new skills.

About this course: If you really care about the big questions in the economies and societies of the 21st century, such as distributive justice - namely, inequality of income or wealth, and its correlation with economic growth - this course is meant for you. The knowledge you will gain can truly change your outlook on our world. "Economic Growth and Distributive Justice - Maximizing Social Wellbeing" is the second part of a two part course and it includes the following five lectures: (1) The excess burden of taxation (2) Tax incidence: who bears the economic burden of tax? (3) Progressivity: definition and ways to achieve (4) Low Income, Low Ability and the Optimal Income Tax Model (5) Designing the Tax and Transfer System that Maximizes Social Wellbeing If you haven't done that already, we strongly recommend that you register for the first part of the course: "Economic Growth and Distributive Justice - the Role of the State". Taking both parts of the course would enable you to obtain a fuller and more comprehensive knowledge about Economic Growth and Distributed Justice. The course is founded upon the elemental idea that the role of the state is to maximize the well-being - or simply the happiness - of its residents. In 9 fascinating, edifying lessons, using only simple words and decoding professional terminologies that sometimes baffle the intelligent layman, the course expounds many truths – both intuitive and unintuitive. Often using examples from the US and Europe, it does not however focus on policies in any particular region of the world, and is directly applicable to all countries around the globe. The course touches upon the essence of important concepts like efficiency and equity, inequality and poverty, gross domestic product, tax evasion and tax planning; it presents the work of Nobel Laureate James Mirrlees and his followers - promoting a coherent system that integrates tax and government expenditures to maximize social welfare; and illuminates a range of high-profile issues from their economic angle: • Climate change: the atmosphere and oceans as public goods, and how smart (Pigovian) taxation can be used to combat the rapidly increasing threats to our planet; • Technology as the engine of economic growth; • Taxing the rich: How can we mitigate the growing inequality problem? Should we impose a global tax on capital? The curriculum includes interviews with major figures in the fields of law and of economics: Harvard's Elhanan Helpman, Dan Shaviro from NYU and Richard Epstein from the University of Chicago and NYU. After successfully completing this course, you can expect to be able to: • better understand economic issues presented in the media • form an informed opinion on the strengths and weaknesses of presented social economic policies • define and measure inequality and poverty • define the connection between inequality (income, wealth) and economic growth • explain the foundations of economic growth • design a tax and transfer system to maximize the happiness of individuals All these will allow you to better understand the policies being developed around you, and to play a larger, more informed role in their development, as a conscientious citizen.

Created by:  Tel Aviv University
  • Taught by:  Professor Yoram Y. Margalioth, Professor

    The Buchmann Faculty of Law
Commitment 5 weeks of study, 1-3 hours/week Language English, Subtitles: Arabic, Hebrew How To Pass Pass all graded assignments to complete the course. User Ratings 4.7 stars Average User Rating 4.7See what learners said Coursework

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Tel Aviv University Tel Aviv University (TAU) is Israel's largest institution of higher learning – with over 30,000 students and more than 125 schools and departments in nine faculties. Global in outlook and impact, it is consistently ranked among the world's top 100 universities, as well as the top 20 institutions in terms of scientific citations. A spirit of openness and innovation is evident in all of TAU's teaching and research activities, breaking down barriers between disciplines, and boldly striving to address the twenty-first century's most pressing challenges.

Syllabus


WEEK 1


The Excess Burden of Taxation



Dear students, The first half of the course is behind us, and there's one more half to go. We hope you are enjoying yourselves! In the previous class, we focused on the equity side of the equity-efficiency tradeoff, learning how to measure inequality and poverty. In this class, we will move on to talk about measuring efficiency. We will study the principles of SOCIAL EFFICIENCY, guided by the logic of trade, profitable transactions and the influence of TAXATION. Using everyday examples (have you ever babysitted?!), we will investigate the concept of EXCESS BURDEN, how and why taxes reduce social efficiency, and how this can be measured. So let's begin week 5! Best, Economic Growth and Distributive Justice team


8 videos, 2 readings expand


  1. Video: Course promo
  2. Video: Introduction
  3. Reading: Recommanded Books
  4. Video: 1.1  Social Efficiency: Consumer/Producer Surplus
  5. Video: 1.2 The Excess Burden of Taxation: Administrative and Compliance Costs, Evasion and Planning
  6. Video: 1.3 Excess Burden: The Change in Relative Prices
  7. Video: 1.4  Measuring the Excess Burden of Tax: Focusing on Consumer Surplus
  8. Video: 1.5 Measuring the Excess Burden of Tax: Focusing on Producer Surplus
  9. Video: 1.6 Measuring the Excess Burden of Tax: Consumer and Producer Surplus
  10. Reading: Recommended Reading - Week 1

Graded: week 1

WEEK 2


Tax Incidence: Who Bears the Economic Burden of a Tax?



Dear students, This week we will learn how market forces determine who bears the economic burden of a tax. We will follow various classic examples and see how this happens - often in an unintuitive manner, which may be contrary to the legislator’s intention. Best, Economic Growth and Distributive Justice team


6 videos, 1 reading expand


  1. Video: 2.1 The Law Cannot Determine Who Will Bear the Tax Burden
  2. Video: 2.2  Examples of Specific Taxes and Subsidies and their Unintuitive Burden
  3. Video: 2.3 What Determines the Tax Incidence?
  4. Video: 2.4 Elasticityof Capital Supply Assuming full Mobility Across Borders
  5. Video: 2.5 Who Bears the Burden of Corporate Tax: Shareholders ?
  6. Video: 2.6 Who Bears the Burden of Corporate Tax: Employees? Consumers? All Capital Owners?
  7. Reading: Recommended Reading - Week 2

Graded: week 2

WEEK 3


Progressivity: Definition and Ways to Achieve



Dear students, This week's lecture is all about progressivity. We will learn about the difference between MARGINAL and EFFECTIVE tax rates, how progressivity can be achieved, and how the transfer side of the system (e.g. welfare benefits) can create steep marginal tax rates, in addition to those generated by the tax side of the system. In the second part of the lesson we will begin studying the OPTIMAL INCOME TAX MODEL, in our search for the tax and transfer system that would maximize social wellbeing. Best, Economic Growth and Distributive Justice team


5 videos, 1 reading expand


  1. Video: 3.1 How Does the Government Redistribute Income?
  2. Video: 3.2 Redistributing Income Using Increasing Marginal Tax Rates
  3. Video: 3.3 Achieving Progressivity Through Tax System without Increasing Marginal Tax Rates
  4. Video: 3.4 Achieving Progressivity with a Deduction
  5. Video: 3.5 Achieving Progressivity with a Grant (or Public Good)
  6. Reading: Recommended Reading - Week 3

Graded: week 3

WEEK 4


Low Income, Low Ability and the Optimal Income Tax Model



Dear students, This week's lecture will continue our discussion about progressivity. In this second part of the lesson we will begin studying the OPTIMAL INCOME TAX MODEL, in our search for the tax and transfer system that would maximize social wellbeing. Best, Economic Growth and Distributive Justice team


7 videos, 1 reading expand


  1. Video: 4.1 An Integrated View of the Tax and Transfer (welfare) Systems
  2. Video: 4.2 Low Income Levels are Often Subject to Very High Marginal Tax Rates
  3. Video: 4.3 An Interview with prof. Dan Shaviro
  4. Video: 4.4 Taxing Ability, Not Income: “Tagging” and Transfers In-Kind
  5. Video: 4.5 Taxing Ability, Not Income: Welfare Ordeals
  6. Video: 4.6 Designing an Optimal Tax and Transfer System: The Model's Intuition
  7. Video: 4.7 Understanding the Intuition of the Optimal Income Tax Model: No Government Intervention
  8. Reading: Recommanded Reading - week 4

Graded: week 4

WEEK 5


Designing the Tax and Transfer System that Maximizes Social Wellbeing



Dear students, Time goes by, as always, and here we are, in our last week of the course 'Economic Growth and Distributive Justice'. We hope that by now you have all acquired sufficient knowledge and understanding in the various issues taught by Prof. Margalioth, enabling you to better analyze the social-economic reality in which you live, and form your own educated views and preferences regarding these issues. The last week of the course will be devoted to the OPTIMAL MODEL OF THE TAX & TRANSFER SYSTEM. Combining all materials taught in the course and applying them together, Prof. Margalioth will present to you what he believes to be the best possible model, through which a government can achieve both Economic Growth and Distributive Justice. Will you agree to adopt it as well? Perhaps you have some other interesting ideas? We will be more than happy to discuss them. Thank you for taking our course. It was our pure delight to have you as our students! So let's begin week 8! Best, Economic Growth and Distributive Justice team


7 videos, 1 reading expand


  1. Video: 5.1 Designing an Optimal Tax and Transfer System: Flat Tax and a Grant 
  2. Video: 5.2 The Mirrlees Optimal Income Tax Model: Non-Linear Tax and a Grant
  3. Video: 5.3 Demonstrating Why a High Marginal Tax Rate at Low Income Level is Optimal
  4. Video: 5.4 High Marginal Tax Rates at High Income Level: Patterns of Wealth Distribution, Elasticity, Tax Planning and International Tax Competition
  5. Video: 5.5 Richard Epstein Talking about the Risks Involved in Tax-Coerced Massive Redistribution
  6. Video: 5.6 Discussing Thomas Piketty’s Book “Capital in the 21st Century”: Taxation of Capital; High Inequality as a Threat to Democracy
  7. Video: Conclusion of Part II
  8. Reading: Recommended Reading - Week 5

Graded: week 5
Graded: Final exam

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