Public Economics

Learning Outcomes

Knowledge and Understanding

Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:

• normative economic analysis (how the world ought to be) and its relationship with the model assumptions
• the central theoretical and practical concepts and fundamental analytical methods in public economic
• application of microeconomic principles and methods to devising appropriate policies for a range of economic problems in the private and public sector

Subject Specific Intellectual and Research Skills

Having successfully completed this module you will be able to:

• 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.
• Combine microeconomic principles with economic data to inform policy decisions
• abstract complex economic problems into models of strategic interaction to compare normative and positive outcomes (how the world actually is)

Transferable and Generic Skills

Having successfully completed this module you will be able to:

• Communicate policy recommendations based on analytic modeling of strategic interactions for specific policy questions under a deadline.

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.

Teaching and learning methods

Lectures and tutorials.

Resources & Reading list

General Resources

Background Readings. A selection of academic articles on the topics covered throughout the modules, made available online on the module pages on Blackboard.

Textbooks

(2013). Intermediate Public Economics. MIT Press.

Assessment strategy

Assessment will be based on two coursework assignments (20% of the final mark each) and an end of module examination (60%). 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 to 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 module 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

This is how we’ll formally assess what you have learned in this module.

Referral

This is how we’ll assess you if you don’t meet the criteria to pass this module.

Repeat

An internal repeat is where you take all of your modules again, including any you passed. An external repeat is where you only re-take the modules you failed.

Repeat Information

Repeat type: Internal & External