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As this outline shows, the book moves from defining the scope of public finance and introducing its key analytical tools, to applying those tools to specific market failures like externalities and public goods. It then dives into major social insurance programs, a policy area where Gruber is a world-renowned expert, before concluding with a thorough analysis of taxation. This structure ensures students not only learn what governments do but also why and how they do it.

The text begins by establishing the benchmark of competitive markets. Gruber then systematically breaks down why markets fail, focusing heavily on externalities (e.g., pollution, congestion) and public goods (e.g., national defense, lighthouses). Students learn how corrective taxes (Pigouvian taxes) and subsidies can align private incentives with social welfare. 2. Social Insurance and Redistribution

Environmental policy, public goods provision, and local public finance. Social Insurance and Redistribution

Jonathan Gruber—an esteemed MIT economist and a primary architect of the Affordable Care Act—is uniquely qualified to bridge the gap between abstract economic theory and tangible policy implementation. The (published by Worth Publishers) goes far beyond the traditional confines of micro- and macro-economic fundamentals by heavily integrating empirical data to show exactly how government policies affect human behavior.

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