28354 - Principles of Public Economics

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

Note: the course is in English

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

Traditional lectures led by the course lecturer.

Assessment methods

Written exam: typically 90 minutes. The exam questions can include definitions, exposition of concepts and graphical exercises

The content and structure of exam questions is intended to assess familiarity with the material covered in the course lectures, and, in particular, to assess understanding of the theoretical content of the course. The nature of exam questions will closely follow examples covered as exercises during the course, and discussed in lectures/tutorials.

The grading system is on a 0-30 range. The maximum possible score is 30 cum laude, in case all answers are correct, complete and formally rigorous. If this is not the case, the following grid applies:

• 30 cum laude: Excellent preparation and analytical skills, expressed in a correct and precise language; ability to analyze critically and to link different concepts, mastery of specific terminology
  
• 27-30: Very good preparation and analytical skills, expressed in a correct and precise language; very good ability to analyze critically and to link different concepts.
  
• 24-27: Good preparation and analytical skills, expressed in a formally correct language. Some minor imprecision in the exposition and use of technical concepts
  
• 21-24: Satisfactory preparation and analytical skills, expressed in a formally correct language. Some imprecisions in the exposition and use of technical concepts
  
• 18-21: Sufficient preparation and analytical skills, expressed in a formally correct language. Many imprecisions in the exposition and use of technical concepts
  
• <18: fail

The exam is computer-based through a platform provided by the University. In case online exams will be envisaged by the University of Bologna, the structure of the written exam is the same. The exam will be run through Zoom and Exams Online (EOL). Detailed instructions on how to manage and hand in the online exam are available on the course page on the VIRTUALE platform.

During exams students will NOT be allowed to use materials such as: textbooks, lecture notes/slides; any written notes; web-enabled or data storage devices, or smartphones. Candidates found with such items will be removed from the exam and their work will not be marked.

Teaching tools

Slides, example exercises and some mock-up exams from previous years will available on the platform VIRTUALE: https://virtuale.unibo.it/

Office hours

See the website of Davide Dragone