| Course Name | Public Economics |
| Code | Semester | Theory (hour/week) | Application/Lab (hour/week) | Local Credits | ECTS |
|---|---|---|---|---|---|
| ECON 411 | Fall/Spring | 3 | 0 | 3 | 5 |
| Prerequisites |
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| Course Language | English | |||||||||||
| Course Type | Elective | |||||||||||
| Course Level | First Cycle | |||||||||||
| Mode of Delivery | - | |||||||||||
| Teaching Methods and Techniques of the Course | - | |||||||||||
| Course Coordinator | - | |||||||||||
| Course Lecturer(s) | ||||||||||||
| Assistant(s) | - | |||||||||||
| Course Objectives | This course examines the role of government in private economies. Under ideal market conditions, competition promotes economic efficiency via Adam Smith’s “invisible hand”, leaving little role for the government. In some cases, however, markets fail and government intervention may be desirable. Market failures to be analyzed include public goods, externalities, adverse selection and moral hazard. In addition to these market failures, the government may have a role in the redistribution of income. In the context of these market failures, we will analyze a variety of real world policies, including welfare, the earned income tax credit, Medicaid, Social Security, and Medicare. The course then examines the financing of such government interventions. Tax systems should be designed to enhance economic efficiency and to promote an equitable distribution of income. |
| Learning Outcomes | The students who succeeded in this course;
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| Course Description | The course is designed to get students familier with the tools and models of government intervention into the economy. Intermediate microeconomics and public finance would help students grasp the subject matter easily. Starting with the definition of public goods, externallities, different type of public expenditures and taxes and their effects on the economy will be analyzed during the course. In addition, empirical models about public expenditures and taxes are analyzed and students are encouraged to do their own empirical models. |
| Related Sustainable Development Goals | |
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| Core Courses | X |
| Major Area Courses | ||
| Supportive Courses | ||
| Media and Managment Skills Courses | ||
| Transferable Skill Courses |
| Week | Subjects | Required Materials |
| 1 | Methodologies for empirical research | Reading related chapter |
| 2 | Methodologies for empirical research | Reading related chapter |
| 3 | Efficient production of public goods | Reading related chapter |
| 4 | Different type of public expenditures | Reading related chapter |
| 5 | Externalities | Reading related chapter |
| 6 | Political economy | Reading related chapter |
| 7 | Income redistribution | Reading related chapter |
| 8 | Tax incidence | Reading related chapter |
| 9 | Tax indidence and income distribution | Reading related chapter |
| 10 | Review of the Semester | |
| 11 | Review of the Semester | |
| 12 | Review of the Semester | |
| 13 | Review of the Semester | |
| 14 | Review of the Semester | |
| 15 | Review of the Semester | |
| 16 | Review of the Semester |
| Course Notes/Textbooks | The textbook: Public Finance, Harvey Rosen Supplementary book: Econometric Guide, Peter Kennedy |
| Suggested Readings/Materials |
| Semester Activities | Number | Weighting |
| Participation | 15 | 10 |
| Laboratory / Application | ||
| Field Work | ||
| Quizzes / Studio Critiques | ||
| Portfolio | ||
| Homework / Assignments | 1 | 30 |
| Presentation / Jury | ||
| Project | ||
| Seminar / Workshop | ||
| Oral Exam | ||
| Midterm | 1 | 30 |
| Final Exam | 1 | 30 |
| Total |
| Weighting of Semester Activities on the Final Grade | 17 | 70 |
| Weighting of End-of-Semester Activities on the Final Grade | 1 | 30 |
| Total |
| Semester Activities | Number | Duration (Hours) | Workload |
|---|---|---|---|
| Course Hours (Including exam week: 16 x total hours) | 16 | 3 | 48 |
| Laboratory / Application Hours (Including exam week: 16 x total hours) | 16 | ||
| Study Hours Out of Class | 16 | 2 | 32 |
| Field Work | |||
| Quizzes / Studio Critiques | |||
| Portfolio | |||
| Homework / Assignments | 1 | 20 | |
| Presentation / Jury | |||
| Project | |||
| Seminar / Workshop | |||
| Oral Exam | |||
| Midterms | 1 | 25 | |
| Final Exams | 1 | 25 | |
| Total | 150 |
| # | Program Competencies/Outcomes | * Contribution Level | ||||
1 | 2 | 3 | 4 | 5 | ||
*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest
