Public Economics

(4 Credits)

This course is about the economic activities of government, largely revenue raising and spending, in a global context. The course considers market failures; the evaluation of public expenditures; and the incidence, efficiency, and effects of various taxes. The primary purpose is to use economic tools (mainly microeconomic) to study the impact of government policy on the distribution of resources. Topics include: welfare economics; public goods and externalities; public choice; important issues of government expenditure, taxation, and activity (e.g., international public goods and institutions, tax competition and coordination, education, social security and health care); fiscal federalism (including European integration); and mechanisms of political influence (e.g. elections and lobbying).