Monash University Handbook 2011 Undergraduate - Unit

Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.

Synopsis

The relationship between the public and private sectors is explored from the perspective of both public finance and political economy. Theories of public expenditure and revenue generation are introduced to assess the proper scope of the public sector. Additionally, theories of public choice are presented to examine the effectiveness and decision-making process of the public sector.

Objectives

The learning goals associated with this unit are to:

1. understand the basic economic concepts and principles applied in the public finance area
2. analyse specific policy issues in the area of public expenditure and taxation from the perspectives of both traditional public finance and public choice
3. critically evaluate contemporary public debate on topics in public finance;
4. understand the usefulness and limitations of economic analysis in the public finance area
5. identify both market failure and government failure and understand the causes of each.

Assessment

Within semester assessment: 40%
Examination (2 hours): 60%

Chief examiner(s)

Ranjan Ray

Contact hours

3 hours per week

Prerequisites

ECC2000

Prohibitions

ECC4381