The objectives of this module are to introduce students to the major themes of public economics and to develop their skills in using microeconomic tools to analyse public policy.
Prerequisites: ECON2001 OR ECON2003
Aims and Objectives
Having successfully completed this module you will be able to:
- Combine microeconomic principles with economic data to inform policy decisions
- Apply microeconomic principles and methods to devising appropriate policies for a range of economic problems in the private and public sector
- Provide policy recommendations based on analytic modeling of strategic interactions for specific policy questions under a deadline.
- Formulate well-founded normative statements (how the world ought to be) as well as predictions on positive outcomes (how the world actually is), to identify differences between the two and possible policy remedies.
- Use formal logic to uncover the strategic mechanisms at work and thus identify optimal decisons, so as to enable giving well-founded policy advice to decision-makers.
This module will provide students with an understanding of the scope of public economics (i.e. the study of public goods provision, public finance - expenditure and taxation - and public choice) and with the ability to analyse and understand key issues in this field (How should problems of externalities be identified and addressed? Why and when should education or health care by privately or publicly provided? Should the government increase taxes?) using standard microeconomic tools corresponding to the level taught in core second-year economic courses (optimisation and basic game theory concepts). The course will set out to convey ideas in an accessible way, and in a form that will be of both academic and practical use to students.
Learning and Teaching
Teaching and learning methods
Lectures and tutorials.
|Total study time||150|
Resources & Reading list
Background Readings. A selection of academic articles on the topics covered throughout the modules, made available online on the module pages on Blackboard.
(2013). Intermediate Public Economics. MIT Press.
Assessment will be based on participation in class (10%), two coursework assignments (20% of the final grade each) and an end of semester examination (50%). All assessments will assess your knowledge of concepts and methods in public economics, your ability to apply them to known and some new specific problems in public economics and derive policy implications, and your ability of critical thinking. This is the same for internal repeats; assessment for referrals and external repeat is through 100% end of semester examination.
Coursework will be returned with individual feedback. In the first Master Class following the deadline general feedback on the coursework will be given.
Summative assessment description
Referral assessment description
Repeat assessment description
Repeat type: Internal & External