Kebijakan Fiskal

Pasar &
Pemerintah

Dosen Pengampu:
Yudi Saputra, S.E.Sy., M.A., Ph.D.Cand.

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Outline

• Efisiensi Ekonomi
• Ekuitas dan Kesejahteraan Sosial
• Pasar Kompetitif dan Efisiensi
• Pemerintah dan Pasar
• Barang Publik dan Eksternalitas

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Pendahuluan
Although there is an assumption that property
should be common property, in general it should
be private property.

When everyone has their own interests, there

will be no equal reason for a fight. A person will
try harder, because each person will feel that he
must try hard to acquire what belongs to him.

Aristotle

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Pendahuluan
An economy is efficient when it provides
the maximum amount of goods that
individuals want from the resources
available.
The PPF curve shows the maximum
quantity of goods, in this case food and
clothing, that can be produced. When an
economy is on the PPF curve, it means
that the economy is touching the optimal
point. Food output can only increase if
clothing output decreases, and vice versa.

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Pareto Efficient
The concept of Pareto Efficient is the
condition under which the optimal point
has been reached. In this context, when a
person wants more food, then he has to
reduce the ration of someone who wants
clothes.
Conversely, if resources are not optimal,
then when someone wants to add an
item, it will not reduce other people's
rations for other goods. This condition is
often referred to as Pareto Improvement.

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Efisiensi di Pasar
Kompetitif
In competitive markets, Consumer Surplus
efficiency occurs when Marginal
Cost (MC) equals Marginal Benefit
(MB).

MC = MB
In this condition, both
consumers and producers are at
the point of equilibrium. In other
words, neither party is
"advantaged" or "disadvantaged".
Producer Surplus

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Efisiensi, Ekuitas, dan
Kesejahteraan
Before going any further, Sosial
let's define what social welfare is?

Social welfare is a set of well-being of individuals who

are in a group (society). Social welfare (shared) will
be achieved when, each individual is prosperous in
the context of economic welfare can be interpreted
as the level of utility.

So mathematically it can be written as follows:

Dimana: W = social welfare 7

Kemungkinan Utilitas
dan Kesejahteraan
Sosial
Because it is not possible to model
many individuals on a curve. Social
welfare (society), then, is represented in
the graph by the utility of 2 individuals
(Amy and Ben).

Note: Think back to the concept of

indifference curve.

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Pemerintah dan Pasar
The important thing for Government is not to do
things which individuals are doing already, and to do a
little better or worse; but to do those things which at
present are not done at all.
John Maynard Keynes

The business of government is to keep the

government out of business. Unless business needs
government aid.

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Will Rogers
Market vs Government
Failures
•A market failure is a situation in which the invisible hand
pushes in such a way that individual decisions do not lead to
socially desirable outcomes
• Externalities
• Public goods
• Imperfect information
•Government failures are when the government
intervention actually makes the situation worse

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Eksternalities

• Externalities are the effects of a decision on a third party

that are not taken into account by the decision-maker
• Negative externalities occur when the effects are
detrimental to others
• Ex. Second-hand smoke and carbon monoxide
emissions
• Positive externalities occur when the effects are
beneficial to others
• Ex. Education
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Negative Externality

• When there are negative externalities, the marginal social

cost differs from the marginal private cost

• The marginal social cost includes the marginal private

costs of production plus the cost of negative
externalities associated with that production
• It includes all the marginal costs that society bears

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Negative Externality

Cost, P
If there are no externalities, P0Q0
S1 = Marginal is the equilibrium
Social Cost
If there are externalities, the
S0 = Marginal marginal social cost differs from the
Private Cost
P1 Cost of externality marginal private cost, and P0 is too
P0
low and Q0 is too high to maximize
social welfare
D = Marginal
Social Benefit Government intervention may be
Q1 Q0 Q necessary to reduce production

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Positive Externality

• When there are positive externalities, the marginal social

benefit differs from the marginal private benefit

• The marginal social benefit includes the marginal private

benefit of consumption plus the benefits of positive
externalities resulting from consuming that good
• It includes all the marginal benefits that society
receives

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Positive Externality

Cost, P If there are no externalities, P0Q0 is

the equilibrium
S = Marginal
Private Cost
If there are externalities, the marginal
P1 Benefit of
externality
social benefit differs from the marginal
P0 D1 = Marginal
private benefit, and both P0 and Q0 are
Social Benefit too low to maximize social welfare
D0 = Marginal
Private Benefit
Government intervention
Q0 Q1 Q may be necessary to increase
consumption
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Dealing with Externalities
• Direct regulation is when the government directly limits
the amount of a good people are allowed to use
• Incentive policies
• Tax incentives are programs using a tax to create
incentives for individuals to structure their activities in a
way that is consistent with the desired ends
• Market incentives are plans requiring market
participants to certify that they have reduced total
consumption by a certain amount
• Voluntary solutions
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Tax Incentive Policies

A tax on pollution that equals the social

Cost, P cost of the negative externality will
S1 = Marginal cause individuals to reduce the quantity
Social Cost
of the pollution causing activity to the
S0 = Marginal socially optimal level Q1
Private Cost
P1
P0
Efficient tax Effluent fees are charges imposed
by governments on the level of
D = Marginal pollution created
Social Benefit

Q1 Q0 Q

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Market Incentive
Policies
• A market incentive plan is similar to direct regulation in
that the amount of the good consumed is reduced
• A market incentive plan differs from direct regulation
because individuals who reduce consumption by more
than the required amount receive marketable
certificates that can be sold to others
• Incentive policies are more efficient than direct
regulatory policies

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Voluntary Reductions

• Voluntary reductions allow individuals to choose

whether to follow what is socially optimal or what is
privately optimal

• The socially conscious will often become discouraged

and quit contributing when they believe a large
number of people are free riding

• Free rider problem is individuals’ unwillingness

to share the cost of a public good

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Public Goods

• A public good is nonexclusive and nonrival

• Nonexclusive: no one can be excluded from its
benefits
• Nonrival: consumption by one does not preclude
consumption by others
• Many goods provided by the
government have public good
aspects to them
• There are no pure public
goods; national defense is the
closest example 20
Public Goods
• A private good is only supplied to the individual who
bought it
• Once a pure public good is supplied to one
individual, it is simultaneously supplied to all
• In the case of a public good, the social benefit of a
public good (its demand curve) is the sum of the
individual benefits (value on the vertical axis)
• To create market demand,
• private goods: sum demand curves horizontally
• public goods: sum demand curves vertically
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 “Kemarin aku pintar, maka aku ingin mengubah dunia.
Hari ini aku bijak, maka aku ingin mengubah diriku
sendiri”.
(Jalaluddin Rumi)

Terima Kasih
Wassalamualaikum wr. wb. 22