Public finance
Professor John Head
6 points
* Two 1-hour lectures and one 1-hour tutorial per week
*
Second semester
* Clayton
* Prerequisite: ECO2000 or equivalent
Objectives On completion of this subject students should be able to understand the basic economic concepts and principles applied in the public finance area; analyse specific policy issues in the area of public expenditure and taxation; understand and evaluate contemporary public debate on topics in public finance; appreciate the usefulness and limitations of economic analysis in the public finance area.
Synopsis This subject is concerned with the application of microeconomic analysis to issues in public expenditure and taxation. In the area of public expenditure, concepts of public goods, mixed goods, externalities and merit goods are developed to help explain and justify government spending and to analyse issues of program design and reform in areas such as defence, health, education and social security. Problems of political decision-making must, however, also be considered. In the area of taxation, basic concepts and principles of equity and efficiency are developed and applied to tax design and reform issues in the area of personal and company income tax, direct and indirect consumption taxes and wealth taxes.
Assessment Written (optional 2500-word essay): 30%
* Examination (2
hours): 100% or 70%
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