Course overview
This course investigates the role of the public sector in the economic arena. We will attempt to explain why government intervention is needed, how it influences the behaviour of the private sector and what the welfare effects of such influences are. We will also survey political economy, which regards actions of the public sector as determined by political processes. Topics covered may include welfare economics, market failures, innovation policy, and political economy. Students are expected to be familiar with one variable calculus and optimization techniques at the level of Managerial Economics IID or equivalent.
Course learning outcomes
- Use the basic tools, concepts and models to solve problems in key topics in Public Economics
- analyse policy challenges facing governments around the world and learn to find solutions to these challenges, taking into account obstacles to implementation;
- apply economic perspectives on activities of the government sector to become well-informed, engaged participants - citizens, voters, politicians and/or civil servants - in society.