Core
6
8 ECTS
Autumn
Introduction to Microeconomics (EC 110),
Introduction to Macroeconomics (EC 130)
EC 445
Goran Mirascic
2017
The Public Sector in a Mixed Economy
The Public Sector in the US
Market Efficiency
Market Failure
Efficiency and Equity
Public Goods and Publicly Provided Private Goods
Public Choice
Public Production and Bureaucracy
Externalities and the Environment
The Analysis of Expenditure Policy
Cost – Benefit Analysis
Health Care
Defence and Technology
Social Insurance
Welfare Programs and the Redistribution of Income
Education
Introduction to Taxation
Tax Incidence
Taxation and Economic Efficiency
Optimal Taxation
Taxation of Capital
The Personal Income Tax
The Corporation Income Tax
Tax Avoidance
Reform of the Tax System
Fiscal Federalism
State and Local Taxes and Expenditures
Deficit Finance
| Type | Number per Term | Duration | Total Time |
|---|---|---|---|
|
Lectures |
15 | 2 | 30 |
|
Tutorials |
15 | 2 | 30 |
|
Total |
60 | ||
| Total Guided/Independent Learning Hours | 140 | ||
| Total Contact Hours | 60 | ||
| Total Engagement Hours | 200 | ||
| Type | Number Required | Duration / Length | Weighting | Timing / Submission Deadline |
|---|---|---|---|---|
|
Final exam |
1 |
3 hours |
50% |
Week 17 |
|
Mid-semester test |
1 |
2 hours |
20% |
Week 9 |
|
Group project: Policy formulation and theoretical description of steps needed for policy implementation (including presentation) |
1 |
Written part: 1000 words
Presentation: 15 minutes |
Written part: 15%
Presentation: 5% |
Week 14 |
|
Individual report |
1 |
1000 words |
10% |
Week 5 |
Intended Learning Outcomes:
To comprehend the most important terms from the field of Public Sector Economics.
Identify and explain the various types of market failure that provide a justification for government interventions
Critically evaluate the main policy instruments used to mitigate market failures
Accurately describe different policy implications of good/bad government interventions
Explain the systematic limitations of government intervention e.g. presence of information problems and the role of public bureaucracy
Identify the trade-offs (efficiency vs. equality) captured by public economics models;
Demonstrate ability to conduct a research to collect information from variety of sources and provide information related to solutions in familiar and unfamiliar context.
Teaching and Learning Strategy:
Lectures will be based on the key text book with additional readings from supplementary resources. The reading material will be combined with the aim of better comprehension of lectures named in the course outline. (ILO: 1-6)
In-class exercises with appropriate tools and practice problems (ILO: 2-6)
Individual Project assignment is used for self-study engagement. (1-6)
Group project aims to integrate theoretical concepts with practical skills (ILO: 1-7)
Assessment Strategy:
Midterm test and Final exam (ILO: 1-6)
Individual and group projects (ILO:1-7)
Practical Skills:
Ability to create reports from the field of Public Sector Economics
Ability to engage constructively in the formulation, implementation, and evaluation of public sector policies.
Ability to (theoretically) apply knowledge from the field of Public Sector Economics to the real-life concerns
Teaching and Learning Strategy:
IT Lab exercises with tutor-lead support
Individual project assignment (PS: 1)
Group project (PS: 2-3)(PS: 1-3)
Assessment Strategy:
Written Exams (PS: 2-3)
Individual Project (PS: 1)
Group project (PS: 2-3)
Transferable Skills:
A problem-centered and problem-solving approach
Ability to effectively present own and others’ point of view
Numeracy Skills
Communication Skills: written and oral
Presentation Skills
Teaching and Learning Strategy:
IT Lab exercises (TS: 1-4)
Individual Project (TS: 1-5)
Assessment Strategy:
Individual Project assignment (TS:1-5)
Written examination (TS:1-4)
Set text
Joseph E. Stiglitz, Rosengard, J., (2015), Economics of the Public Sector, 4th edition, W.W. Norton & Company
Supplementary Materials
Stiglitz, J., (2015), Freefall: Free Markets and the Sinking of the Global Economy, Penguin
The Economist, (2017), Economics, [online], www.economist.com, (Accessed 12 April 2017)
Martinez-Vazquez, J., (2014), Coersion and Social Welfare in Public Finance, Cambridge University Press
Koch, M., Mont, O, (Eds),(2016), Sustainability and the Political Economy of Welfare, Routledge
Ravenhill, J., (2016), Global Political Economy, 5 Edition, Oxford University Press
Smith, S., (2015), Taxation: A Very Short Introduction, Oxford University Press
Elsevier, (2017), Journal of Public Economics, Open Access Articles [online], http://www.journals.elsevier.com/journal-of-public-economics/open-access-articles (Accessed 12 April 2017)
LSE, (2017), London School of Economics Lectures [online], https://itunes.apple.com/gb/podcast/london-school-economics-public/id279428154?mt=2 (Accessed 12 April 2017)
World Bank (2017) The World Bank in Bosnia and Herzegovina: Country Snapshot, http://pubdocs.worldbank.org/en/705141492622353847/Bosnia-Herzegovina-Snapshot13Apr2017.pdf
World Bank (2015). Bosnia and Herzegovina Country Partnership Framework, Report No. 99616-B http://pubdocs.worldbank.org/en/215221450204091066/WBG-Bosnia-and-Herzegovina-period-FY2016-2020.pdf
Please note
This specification provides a concise summary of the main features of the module and the learning outcomes that a typical student might reasonably be expected to achieve and demonstrate if he/she takes full advantage of the learning opportunities that are provided.
More detailed information on the learning outcomes, content and teaching, learning and assessment methods of each module and programme can be found in the departmental or programme handbook.
The accuracy of the information contained in this document is reviewed annually by the University of Buckingham and may be checked by the Quality Assurance Agency.
Date of Production : April 2017
Date approved by School Learning and Teaching Committee:
Date approved by School Board of Study :
Date approved by University Learning and Teaching Committee:
Date of Annual Review:
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