28354 - Principles of Public Economics

Course Unit Page

Academic Year 2018/2019

Learning outcomes

"Student is expected to get frameworks of economics within the public sector. In particular, the student is expected to understand: - the role of government in mixed economies - economic efficiency and Pareto efficient allocations - market and public failures - results of the social choice theory - role of the government in the redistribution of income - financing of government interventions through the tax system.

Course contents

Topics

1. The Market Forces of Supply and Demand.
2. Elasticity and Its Application.
3. Supply, Demand, and Government Policies.
4. Consumers, Producers, and the Efficiency of Markets.
5. The Costs of Production.
6. Firms in Competitive Markets.
7. The Costs of Taxation.
8. The Design of the Tax System
9 Monopoly (including price discrimination)

Readings/Bibliography

N. Gregory Mankiw, "Principles of Economics", any edition, South-Western College Pub.

Additional material provided in class.

Teaching methods

Lectures.

Assessment methods

Written exam: 90 minutes. The exam will include one exercise.

Office hours

See the website of Luigi Alberto Franzoni