Lecture, three hours; discussion, one hour. Requisites: courses 11, 101. In-depth examination of selected topics related to current policy debates. Topics vary from year to year but typically emphasize tax policy or social insurance. Topics may include optimal taxation; tax inefficiencies and their implications for labor supply, savings, and investment; income redistribution and personal income tax; corporate taxation and implications for firms' investment and financing decisions; Social Security and SSDI reform; and welfare programs. P/NP or letter grading.