ECON 7032 - Public Economics PG

This course investigates the role of the public sector in the economic arena. We will attempt to explain why government intervention is needed, how it influences the behaviour of the private sector and what the welfare effects of such influences are. We will also survey political economy, which regards actions of the public sector as determined by political processes. Topics covered may include welfare economics, market failures, innovation policy, and political economy. Students are expected to be familiar with one variable calculus and optimization techniques at the level of Managerial Economics IID or equivalent.