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ECO447Social Sciences2 Unitsintermediate

Public Sector Economics

This course provides an in-depth exploration of public sector economics. It covers essential topics such as public goods, externalities, public debt, and budgeting. Students will learn to analyze government spending, taxation, and resource allocation. The course also examines theories of public finance and the role of cost-benefit analysis in policy decisions. Emphasis is placed on understanding market failures and the economic principles that guide public sector policies. Students will develop critical thinking skills to evaluate economic arguments.

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156h

Study Time

13

Weeks

12h

Per Week

intermediate

Math Level

Course Keywords

Public Sector EconomicsPublic FinanceExternalitiesPublic DebtBudgeting

Course Overview

Everything you need to know about this course

Course Difficulty

Intermediate Level

Builds on foundational knowledge

65%

intermediate

📊

Math Level

Moderate Math

📖

Learning Type

Theoretical Focus

Course Topics

Key areas covered in this course

1

Public Sector Economics

2

Public Finance

3

Public Goods

4

Externalities

5

Public Debt

6

Budgeting

7

Cost-Benefit Analysis

8

Market Failure

9

Resource Allocation

10

Taxation

Total Topics10 topics

Requirements

Knowledge and skills recommended for success

Basic Economics

Microeconomics

Macroeconomics

💡 Don't have all requirements? Don't worry! Many students successfully complete this course with basic preparation and dedication.

Assessment Methods

How your progress will be evaluated (3 methods)

assignments

Comprehensive evaluation of course material understanding

Written Assessment

tutor-marked assignments

Comprehensive evaluation of course material understanding

Written Assessment

final examination

Comprehensive evaluation of course material understanding

Written Assessment

Career Opportunities

Explore the career paths this course opens up for you

Public Finance Analyst

Apply your skills in this growing field

Policy Analyst

Apply your skills in this growing field

Government Economist

Apply your skills in this growing field

Budget Analyst

Apply your skills in this growing field

Public Sector Consultant

Apply your skills in this growing field

Industry Applications

Real-world sectors where you can apply your knowledge

Government AgenciesNon-profit OrganizationsConsulting FirmsFinancial InstitutionsResearch Institutes

Study Schedule Beta

A structured 13-week journey through the course content

Week

1

Module 1: Understanding Public Sector Analysis

4h

Unit 1: Public Sector

2 study hours

•Read the definition of Public Sector Economics and understand its scope.
•Identify the advantages and disadvantages of Public Corporations.
•Compare and contrast the Private and Public sectors.

Unit 2: Public Finance

2 study hours

•Define Public Finance and understand its meaning.
•Explore the concept of Functional Finance and its applications.

Week

2

Module 1: Understanding Public Sector Analysis

2h

Unit 3: Principles of public Finance

2 study hours

•Understand the principles of Public Finance and their importance.
•Examine the level of Government Spending and its impact.
•Identify the sources of revenue for the government.

Week

3

Module 2: Theories of Public Goods

2h

Unit 1: Public goods analysis

2 study hours

•Define Public goods and understand their characteristics.
•Identify the challenges in identifying public goods.
•Explore the types of public goods.

Week

4

Module 2: Theories of Public Goods

2h

Unit 2: Theories of Public goods

2 study hours

•Understand the theories of Public goods.
•Study the Voluntary Exchange Model and its implications.
•Analyze the Samuelson Model and its applications.

Week

5

Module 2: Theories of Public Goods

2h

Unit 3: Differences between Public Goods and Private Goods

2 study hours

•Differentiate between Public Goods and Private Goods.
•Understand the advantages and disadvantages of Public goods.
•Compare Public goods with Merit goods.

Week

6

Module 2: Theories of Public Goods

2h

Unit 4: Allocation of Resources

2 study hours

•Define Allocation of Resources and its importance.
•Identify the key players: consumers and producers.
•Analyze the advantages and disadvantages of Resources in a free market Economy.

Week

7

Module 3: Public Debts, Budgeting and Public Expenditure

2h

Unit 1: Public debts

2 study hours

•Define Public debts and understand its meaning.
•Understand the meaning of Classification of Public Debt.
•Explore the methods of Redemption of Public Debt.

Week

8

Module 3: Public Debts, Budgeting and Public Expenditure

2h

Unit 2: Public Budget

2 study hours

•Define Public Budget and understand its meaning.
•Understand the reasons why the account of the budget may be split up.
•Explore the kinds and types of Government Budget.

Week

9

Module 3: Public Debts, Budgeting and Public Expenditure

2h

Unit 3: Public Expenditure

2 study hours

•Define Public Expenditure and understand its meaning.
•Know the causes of increase in Public Expenditure.
•Understand the principles of Governing Public Expenditure and its importance.

Week

10

Module 3: Public Debts, Budgeting and Public Expenditure

2h

Unit 4: Budgeting

2 study hours

•Understand the Wagner's law of increasing state activities and Wiseman-Peacock Hypothesis.
•Define Budgeting and understand its meaning.
•Explore the types of budgeting.

Week

11

Module 4: Externalities

2h

Unit 1: Meaning of Externalities

2 study hours

•Define Externalities and understand its meaning.
•Know the types of Externalities.
•Understand the effects of Externalities and Allocative Efficiency.

Week

12

Module 4: Externalities

2h

Unit 2: Market Failure

2 study hours

•Define Market Failure and understand its meaning.
•Know the types and the nature of Market Failure.
•Understand the meaning of externalities and nature of exchange.

Week

13

Module 4: Externalities

2h

Unit 3: Cost-Benefit Analysis

2 study hours

•Define Cost-Benefit Analysis and understand its meaning.
•Understand the steps/cost incurred in cost-benefit analysis.
•Understand the cost and benefit in controlling pollution.

This study schedule is in beta and may not be accurate. Please use it as a guide and consult the course outline for the most accurate information.

Course PDF Material

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Study Tips & Exam Preparation

Expert tips to help you succeed in this course

1

Review all key definitions and concepts from each unit.

2

Practice applying cost-benefit analysis techniques to real-world scenarios.

3

Create summaries of the main theories of public goods and externalities.

4

Focus on understanding the different types of market failures and their policy implications.

5

Review all Tutor Marked Assignments (TMAs) and their solutions.

6

Allocate study time proportionally to the weight of each module in the final exam.

7

Create concept maps linking different topics within each module.

8

Practice answering past exam questions under timed conditions.

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