Department of Economics & International Development, Unit Catalogue 2008/09 |
EC50123 Public economics |
| Credits: 6 |
| Level: Masters |
| Semester: 2 |
| Assessment: EX 100% |
| Requisites: |
|
Aims: To understand public sector revenue raising and expenditure policy issues from an economic theory perspective.
Learning Outcomes: Students would have a thorough understanding of public sector issues such as progressive taxation, regulation theory and policy and government expenditure behaviour. They should consequently be able to critically evaluate current public sector policies undertaken by governments. Skills: 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). Content: Market failure, government failure and the fundamental theorems of welfare economics. Equality versus efficiency. Taxation and incentives. The theory of externalities. The theory of public goods. Local public goods and fiscal federalism. |