|Year of offer||2017|
|Subject level||Graduate coursework|
|Fees||Subject EFTSL, Level, Discipline & Census Date|
The general problems associated with the role of the state in the economy. Topics will be chosen from the theory of the state; the role of government in promoting economic growth; collective choice mechanisms; the economic analysis of bureaucracy; public goods; social insurance; national debt; and taxation issues.
Intended learning outcomes
On successful completion of this subject students should be able to:
- Describe differences between positive and normative theories in public economics;
- Explain the economic rationale for the existence of the state;
- Explain the growth of the government sector over the twentieth century;
- Derive the criteria identifying the optimal size of the government;
- Analyse different economic theories of the bureaucracy;
- Explain the paradox of voting;
- Analyse the positive and normative properties of collective decision-making mechanisms;
- Explain the implications of Arrow's Impossibility Theorem for public economics;
- Critically evaluate different models of the political business cycle;
- Analyse the implications of countries' stocks of public debt; and
- Explain the principles of optimal taxation.
On successful completion of this subject, students should have improved the following generic skills:
- High level of development: problem solving; application of theory to practice; interpretation and analysis; critical thinking; evaluation of data and other information; statistical reasoning.
- Moderate level of development: oral communication; written communication; synthesis of data and other information; use of computer software; accessing data and other information from a range of sources; receptiveness to alternative ideas.
- Some level of development: collaborative learning.