Undergraduate Course: Public Sector Economics (ECNM10075)
Course Outline
| School | School of Economics |
College | College of Humanities and Social Science |
| Credit level (Normal year taken) | SCQF Level 10 (Year 3 Undergraduate) |
Availability | Available to all students |
| SCQF Credits | 20 |
ECTS Credits | 10 |
| Summary | This course is an introductory course in Public Sector Economics. It provides an overview of the most important topics in Public Sector Economics, such as: microeconomic foundations (externalities, failures of a competitive market, experimental evidence), social welfare and theory of public choice, education, social security (with examples from current research agenda), taxation, fiscal policy (including debt analysis). Applications of relevant theoretical topics are also presented. The course also includes insights from Behavioural Economics. |
| Course description |
This course provides a broad overview of topics in Public Sector Economics. It focuses not only on implications of economic theories, but also on empirical case-studies and particular economic policies. The course is designed in a way that allows students develop tools of analysis of topics in Public Sector Economics and contribute to class-based discussions.
In terms of structure of the course, in the beginning microeconomic foundations are considered. Students are presented with notions of public goods, externalities, asymmetric information, and imperfect competition. In this context failures of competitive markets are studied. Among other empirical studies, evidence from Experimental Economics is recalled in order to motivate further progress.
In the second part of the course topics of taxation are considered. Efficiency of taxation and social welfare considerations are of main interest, in particular students consider various aspects of income, wealth, and goods taxation. In particular, implications of taxation on economic growth are considered. Voting-dependence and economics of public debt are also mentioned.
In the final part of the course public expenditures on education and social security are analyzed in detail. This part of the course is supplemented with issues of inequality and wealth redistribution. Insights from Behavioral Economics in terms of policy design are presented. Research agenda in that regard is outlined.
|
Entry Requirements (not applicable to Visiting Students)
| Pre-requisites |
Students MUST have passed:
Economics 2 (ECNM08006)
|
Co-requisites | |
| Prohibited Combinations | |
Other requirements | None |
Information for Visiting Students
| Pre-requisites | Students should usually have at least 3 Economics courses at grade B or above (or be predicted to obtain this) for entry to this course. This MUST INCLUDE courses in both Macroeconomics and Microeconomics. We will only consider University/College level courses. |
| High Demand Course? |
Yes |
Course Delivery Information
| Not being delivered |
Learning Outcomes
On completion of this course, the student will be able to:
- 1a) Acquire knowledge of microeconomic foundations of Public Sector Economics, social welfare and efficiency measures, various aspects of taxation. 1b) Acquire knowledge of role of Behavioural Economics in policy design. Develop an ability to discuss relevance of behavioural theories in various contexts.
- 2a) Develop an understanding of implications of public debt and various aspects of taxation. 2b) Develop tools of analysis of theoretical implications of hypothetical policies.
- Demonstrate ability to analyse specific aspects of economic policies, for example expenditures on education or redistributive function of taxation.
- Demonstrate ability to discuss and critically comment on current research in the area of Public Sector Economics.
- Demonstrate ability to discuss various topics in Public Sector Economics using recently learned concepts and theories.
|
Additional Information
| Graduate Attributes and Skills |
Research and Inquiry
B1. The ability to identify, define and analyse theoretical and applied economic problems and identify or devise approaches to investigate and solve these problems.
B3. The ability to critically assess existing understanding of economic and social issues, the limitations of that understanding and the limitations of their own knowledge and understanding of those issues.
B4. The ability to question the principles, methods, standards and boundaries of economic knowledge
Personal and Intellectual Autonomy
C1. The ability to be independent learners who take responsibility for their own learning, and are committed to continuous reflection, self-evaluation and self-improvement.
C4. The ability to collaborate and debate effectively to test, modify and strengthen their own views.
Communication
D1. The ability to make effective use of oral, written and visual means to critique, create and communicate understanding.
D2. The ability to further their own learning through effective use of feedback.
D3. The ability to use communication as a tool for collaborating and relating to others.
Personal Effectiveness
E1. The ability to manage tasks and also skills in time-management.
E4. The ability to work effectively with others, capitalising on their different thinking. |
| Special Arrangements |
University of Edinburgh students will not receive credits for this course. |
| Additional Class Delivery Information |
The course has a 5 week duration - 3 weeks of classes with 2 further weeks of independent study / consolidation before the take-home exam.
One in three lectures has a form of discussion-based problem-solving session during which relevant empirical and academic issues are considered. |
| Keywords | PubSecEcon |
Contacts
| Course organiser | Dr Richard Holt
Tel: (0131 6)50 8350
Email: Richard.Holt@ed.ac.uk |
Course secretary | Ms Eirlys Armstrong
Tel: (0131 6)50 9905
Email: eirlys.armstrong@ed.ac.uk |
|
|
University Homepage