ECO 2110 Chapter Notes - Chapter 14: Market Failure

• School: University of Ottawa
• Department: Economics
• Course: ECO 2110
• Professor: Rebekah Owusu

Document Summary

Market failure and the public provision of education. Fear of monopoly does not provide a strong argument for public provision of education. Insufficient information for informed decision: depends on information available to parents and on values, decisions become more complex when there is a diversity of schooling opportunities. Imperfect capital markets: if education is not adequately subsidized poor families bear the burden, one possible remedy for this market failure is for government loan programs to ensure that loans are available for students.