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Old 27th September 2011, 04:39 PM   #1 (permalink)
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H2 econs - market failure essay.

hey everyone .

i don't know how to write this essay :

assess the desirabiliyu of the govt. fully subsidising housing in sg.

i only have 2 points:

1. since MSC is now 0, the production may be even more allocatively inefficient than before.

2. govt. failure (e.g. shortage, inefficiency, etc.).

this isn't enough for a 15 mark essay. anyone can help provide some points?

thanks so much! .

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Old 29th September 2011, 09:21 PM   #2 (permalink)
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Re: H2 econs - market failure essay.

Originally Posted by blacktoast94 View Post
hey everyone .

i don't know how to write this essay :

assess the desirabiliyu of the govt. fully subsidising housing in sg.

i only have 2 points:

1. since MSC is now 0, the production may be even more allocatively inefficient than before.

2. govt. failure (e.g. shortage, inefficiency, etc.).

this isn't enough for a 15 mark essay. anyone can help provide some points?

thanks so much! .
What's part (a) asking for?

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Old 29th September 2011, 11:00 PM   #3 (permalink)
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Re: H2 econs - market failure essay.

(a). distinguish b/w merit and public goods.

i would appreciate if u could help me with the 2 short questions above first though :/ cuz it's super urgent :/ thanks!

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Old 27th October 2011, 12:50 AM   #4 (permalink)
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Re: H2 econs - market failure essay.

Hi, just my take on the question. May not be model ans.

If its a part (b) essay then you will need thesis and anti thesis.

Thesis: Desirable for gov to subsidies public housing

1. Talk about how gov deem it as a merit good hence need to subsidies to increase 'consumption' of housing --> allocative efficient because society's welfare increase.

2. Poorer households can afford housing --> equity is attained.

Anti these: Undesirable for gov to fully subsidies public housing

1. Public housing is not a public good because it is rivalry and excludable in nature. Fully subsidies will result in gov failure --> increase allocative inefficiency.

2. Will worsen inequity issue because rich households can also benefit from subsidies.

3. Strain on gov budget + opp cost of fully subsidising is high (resources diverted from other areas such as healthcare)

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