Public Economics or Public Finance deals with the formulation, execution and effects of government policy, or more generally with non-market mediated policies. Government and government-like organisations differ from other organisations because they can use legal coercion as a means for the realisation of their aims.
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The typical allocation mechanism for scarce resources in markets is the price mechanism, which - under particular circumstances - aggregates information and preferences of many different individuals in an efficient way. In many instances, however, the necessary requirements for efficient market solutions to the resource allocation problem are not given.
This is where the public sector comes into play.
When the price mechanism is not available or does not yield an efficient or otherwise desirable solution to an allocation problem other mechanisms for aggregating information and references are needed to allocate scarce resources and coordinate economic and social behaviour. This course provides basic knowledge of the functioning and the economic significance of the public sector with an emphasis on international aspects.
Some of the topics to be dealt with in the course are: governmental decision-making on the national and international level, role and management of the state in times of globalisation and transnational threats like global warming and international terrorism, important issues pertaining to government expenditure, taxation, and other activities like public goods, international institutions, education, social security, health care , and mechanisms of political influence elections and lobbying. These issues will be analysed from a normative - welfare economic - as well as from a positive - explanatory - perspective, with emphasis on the relevance and limitation of traditional economic theory.
Public economics EC | University of London
Time permitting, some issues in the public economics of taxation may be covered. This course discusses the economic effects of taxation.
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Topics may include the design of a desirable tax system, the structure of income, consumption and wealth taxes in Cananda, the efficiency cost and incidence of various types of taxes, international aspects of taxation, and fiscal federalism. Time permitting, some issues in public expenditure theory may be covered. Information for Faculty and Staff. Skip to main Skip to footer.
ECON Public Economics, Expenditure graduate This course studies the economic role of the public sector in a modern market economy. University of Waterloo.
Related A course in public economics
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