Theme One - On Market Failure- what ismarket failure- why can't markets always cure themselves?

Theme Two - On Government Failure- what ispublic choice theory -why don't governments leave markets alone?

Theme Three - On Externalities- what is a positive and negative externality - define and illustrate the models

Theme Four - On Public Policy- what are the various types and their aims as a rationale to target market failure?

Theme Five - On the Public Good- why do we have public goods and why are they 'failures'