UOS Usyd Public Finance Outline 2010

UOS Usyd Public Finance Outline 2010 - ECOS 3011 Public...

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ECOS 3011 Public Finance Semester 2, 2010 Unit of Study Outline Coordinator/ Lecturer: Dr. Peter Abelson Email: [email protected] Phone: 0412 337 601 Office: Merewether Building, Level 4, room 430. Consultation: Mondays: 12.0 a.m. to 1.00 p.m. and 2.0 p.m. to 3.0 p.m. Other times by appointment, but usually Monday afternoon Classes: Lectures and tutorials: Mondays 9.05 a.m. to 11.30 a.m. Venue: Chemistry Building; Lecture Theatre 4. Discussion Board or email is preferred form of communication. If email, please include ECOS 3011 in the subject line. This is essential because of the large amount of spam received at this email address. 1. Unit of study information 1.1. Faculty Handbook description Public finance, now more often and more accurately described as public economics, is the study of the role of government in the economy. This includes nearly all aspects of public expenditure and finance and government policies other than short-run macroeconomic management. Accordingly, this unit covers a wide range of topics. The first part of the course discusses welfare economics and the role of government in the economy, including provision of public goods, externalities, pricing and ownership policies. The second part focuses on taxation: tax incidence, efficient and equitable taxation, the Australian system of revenue raising, tax reform and taxation in practice. The third part discusses income redistribution, social welfare, and education and health policies. Two key and related themes of the course are the role of government in the allocation of resources for the maximum benefit of society and the use of cost-benefit analysis in policy making. 1.2. Aims and context The unit is a fundamental course in the study of economics. It shows how societies can best use scarce resources to maximise the welfare of their members and the critical role of government in this endeavour. In this course students will learn to analyse government policies using economic methods and ideas. The course draws on microeconomic principles and shows how these principles are applied in policy making. Students are assumed to have studied second year microeconomics, but some repetition is allowed so as to strengthen students’ understanding of core economic issues. Given the central role of government both directly in the economy and indirectly via policy setting, the course should be of interest to any student who is interested in public affairs or in managing a business in a modern market economy.
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2 2.1 Intended learning outcomes Upon successful completion of this unit of study, students should: Understand the analytic framework used by economists to evaluate the desirability and impact of government taxation and expenditure decisions including: o the effects of various types of market failure on the efficiency of market outcomes; o the economic rationale for the role of government in the economy, and
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UOS Usyd Public Finance Outline 2010 - ECOS 3011 Public...

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