Applying the principles of public finance, why should or should not the governments play a role in vaccination? (Please keep in mind, this assignment is NOT an opinion survey. It is an analytical assignment where the principles of public finance must be applied in your argument. The key assumption is that if the issue exhibits signs of market failure then it may provide reasons for government roles. Sample questions to ask include but not limited to: ---Is vaccination a public good? Yes->more government involvement; no->less government ---Is the vaccination industry a natural monopoly? Yes-> more government involvement; no->less ---To what extent does the vaccination market have information asymmetry? A lot-> more government involvement; no->less ---To what extent does the vaccination issue exhibit externality? A lot-> more government involvement; no->less ---Other reasons?... As you see, students are expected to read the chapter and know these terminologies for this assignment. Your conclusion does not have to be a yes or no answer. You may explain the extent to which the government should play a role, depending on many factors, such as the contagiousness of viruses, the severity of health consequences, the extent of individual choices, and etc. The key is to analyze this issue from the perspective of the principles of public finance and see whether government provision of vaccination is warranted, or to what extent

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Applying the principles of public finance, why should or should not the governments play a role in vaccination? (Please keep in mind, this assignment is NOT an opinion survey. It is an analytical assignment where the principles of public finance must be applied in your argument. The key assumption is that if the issue exhibits signs of market failure then it may provide reasons for government roles. Sample questions to ask include but not limited to: ---Is vaccination a public good? Yes->more government involvement; no->less government ---Is the vaccination industry a natural monopoly? Yes-> more government involvement; no->less ---To what extent does the vaccination market have information asymmetry? A lot-> more government involvement; no->less ---To what extent does the vaccination issue exhibit externality? A lot-> more government involvement; no->less ---Other reasons?... As you see, students are expected to read the chapter and know these terminologies for this assignment. Your conclusion does not have to be a yes or no answer. You may explain the extent to which the government should play a role, depending on many factors, such as the contagiousness of viruses, the severity of health consequences, the extent of individual choices, and etc. The key is to analyze this issue from the perspective of the principles of public finance and see whether government provision of vaccination is warranted, or to what extent.

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