Aims: To understand public sector issues from an economic perspective. The issues covered will be based on both microeconomic and macroeconomic theories.
Students would have a thorough understanding of public sector issues such as regulation theory and policy and government expenditure behaviour. They should consequently be able to critically evaluate current public sector policies undertaken by governments.
Ability to develop rigorous arguments through precise use of concepts and mathematical models (Taught/Facilitated/Assessed).
Ability to select, summarise and synthesis written information from multiple sources (T/F/A).
Ability to select and use appropriate ideas to produce a coherent response to a pre-set question (T/F/A).
Comprehensive and scholarly written communication (T/F/A).
Concise and effective written communication (e.g. briefings / written exams) (T/F/A).
Effective oral communication (e.g. lecture question and answer) (F).
Ability to apply theory to policy areas (T/F/A).
This unit will apply microeconomic theory and macroeconomic theory to public sector issues. For example, it will consider the use of legislation to deal with market failure. The theory of regulation will be introduced and applied. Rent seeking and regulation will be analysed. In the macroeconomics section of the course political business cycles will be analysed. Explanations for the growth of public expenditure will be evaluated.