Course Description

Course Name

Public Economics

Session: VDNS3121

Hours & Credits

18 Credit Points

Prerequisites & Language Level

Taught In English

  • There is no language prerequisite for courses at this language level.

Overview

The role of government in society is examined using the tools and methods of microeconomics. Topics include welfare economics, public goods, externalities, optimal taxation and voting models.

This paper uses intermediate microeconomic theory to analyse the role of the state in a market-oriented economy. The topics covered include equity and efficiency principles, market failures and their solutions, public choice mechanisms, taxation and tax evasion.

Learning Outcomes
Upon successful completion of this paper, you should be able to:
1. Develop an appreciation of the reasons for a public sector in a market-oriented economy
2. Apply economic analysis to public-sector problems
3. Provide an understanding of the nature of the problems faced by decision-makers in the public sector and a critical awareness of the decision-making process
4. Provide an introduction to the more specific problems arising in certain areas of public-sector activity

Textbooks
S. Connolly and A. Munro, Economics of the Public Sector, Prentice Hall, 1999.
D.N. Hyman, Public Finance A Contemporary Application of Theory to Policy, Cencage, 2014.
J. Hindricks and G.D. Myles, Intermediate Public Economics, MIT Press, 2006.
H.R. Varian, Intermediate Microeconomics, Norton, 2006.

*Course content subject to change