This module provides a broad understanding of the scope of public economics. It examines the role of the public sector in the economy. It considers economic problems and policy issues in a range of key areas such as health, education and pensions. The main focus is on how economic principles can be used to explore key theoretical and practical issues in these areas and how empirical evidence can be used to evaluate them. The range of topics covered seeks to highlight current issues of government, national and international concern. The module begins by presenting the concepts of economic and social optimum in the context of different welfare theories. The theoretical framework is then used to study in some detail the reasons behind government intervention in selected markets, such as unemployment insurance, education, health and crime.
Learning Outcomes
By the end of the module students should be able to:
demonstrate knowledge and critical understanding of key features of welfare theories;
identify reasons for government intervention in selected key areas;
apply economic theory and tools to analyse and evaluate government intervention in these areas.