Econ 337 #2 - This class: Look for economic, as opposed to...

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This class: Look for economic , as opposed to historical or institutional, explanations for different fiscal decisions by various states.
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Case Study G8 and NATO summit in May Mayor’s ordinance: Change the opening hours of beaches and parks from 4 a.m. to 6 a.m. The fine for resisting a police officer would be more than doubled (from $25-500 to $500 to $1,000) Organizers are required to provide a parade marshal of their own for every 100 demonstration participants and limit their usage of a bullhorn to between the hours of 10 a.m. and 8 p.m. The duration of legal demonstrations would be reduced by 15 minutes to just two hours, according to the Tribune .
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Outline of the course Public economics (ECON309?) Decentralization Voting Demand and supply of S-L goods and service Financing Policy applications and analyses
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Theory Economic criteria: efficiency and equity Public economics
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Differences from public economics: 1. Why public sector vs. why and which public sector? In a market economy, what is the role of the public sector? In a national market economy, what are the roles of each of the three levels of government? ( fiscal federalism ) 1. Spatial or geographic economic issues Taxes and expenditure may create spill over effects Mobility of individuals
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State and local public finance is necessarily linked with regional and urban economics . The “cast” of economic actors: One vs. many governments, some overlapping Many firms and households Public choice These will be the focus of this class.
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Overview of State and local governments Last time: It is a substantial part of the US economy: 1. Its spending represents 14% of GDP. 2. Comprising more than half of total government domestic expenditure. 3. It provides services that most affect residents on a day-to-day basis.
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S-L governments spent resources (2003) 1) collected from their own sources (almost 11% of GDP) 2) financed by federal government (3% of GDP) Interesting facts: 1. If taking States as business firms, all are large enough to be part of the Fortune 500 list. 9 states are among the 50 largest. California is fifth largest. 2.
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This note was uploaded on 02/06/2012 for the course ECON 337 taught by Professor Jannetcheng during the Winter '12 term at Northwestern.

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Econ 337 #2 - This class: Look for economic, as opposed to...

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