Vaccines are an integral instrument in containing the COVID-19 pandemic. However, vaccine hesitancy remains a big problem. We have seen governments around the world approach this problem differently. For example, vaccines are mandatory for adults in some countries (Indoniesia and Micronesia), while many countries do not have any vaccination requirements. In some places, people are incentivized to get vaccinated (a town in Thailand launched a raffle campaign for its vaccinated residents to win a live cow). 1 The following questions attempt to consider the subtle public policy considerations surrounding vaccines. (Please answer these questions as if you are writing a report.) a. Please outline the benefits of vaccination, to the vaccinated individual and the population, and explain whether you believe government intervention would be necessary. (Assuming that governments have already invested in providing an abundant supply of vaccines that could be distributed freely to its populace.) (10 points) b. Please read "Externalities and Compulsory Vaccinations" by Brito, Sheshinski, and Intriligator published in the Journal of Public Economics in 1991. Summarize the main arguments made in their paper against mandatory vaccinations. (You don't need to go through all of the math. Please summarize the main points in your own words.) (10 points) c. Do you think the arguments made in Brito, Sheshinski, and Intriligator (1991) apply to COVID-19 vaccines? Explain. (10 points) d. Suppose the whole population either underestimates the benefits (even private benefits) of the COVID-19 vaccine or overestimates the cost of vaccination. What kind of policy would you advocate in this setting? Please explain clearly. (10 points) e. Suppose the government is mainly worried about new variants of COVID19 appearing. These new variants have not yet materialized, and we are unable to predict the properties (contagiousness, vaccine effectiveness, etc.) of the new variants if they do appear. What kind of vaccine policy would you advocate in this setting? Please explain clearly. (10 points) f. Masks are also an important tool for combating the current pandemic. However, we also see many people unwilling to wear masks in public places, especially in the US. Please explain why policies towards masks should be the same or different from policies for vaccines. (10 points)