290059 Public Economics and Policy Analysis

Detaljer
Ansvarligt institutFødevareøkonomisk Institut

English TitlePublic Economics and Policy Analysis
Tidligst mulig placeringBachelor 2. år til Bachelor 3. år
VarighedEn blok
 
Pointværdi7.5 (ECTS)
 
KursustypeBachelorkursus
 
EksamenSluteksamen

mundtlig eksamen


Alle hjælpemidler tilladt

Beskrivelse af eksamen: Ordinary oral examination (15. min.) in course curriculum with 20 min. preparation time.

Vægtning: 100 percent



7-trinsskala, intern censur
 
Rammer for UndervisningLectures, exercises and student presentations.
 
BlokplaceringBlock 3
Ugestruktur: C
 
UndervisningssprogEngelsk
 
Anbefalede forudsætninger290055 Mikroøkonomi
Microeconomics strongly recommended
 
Begrænset deltagerantalNone
 
Kursusindhold
The content of this course falls in a theoretical and an applied part. The theoretical part consists of basic welfare economic theory using utility maximization and Pareto-efficiency as a reference point for the perception that the free market maximizes welfare. Welfare is, however, only maximized in the absence of market failures and focus is at the market failures: public goods, externalities and asymmetric information. Public and private efficiency-improving intervention in the market including the design of policies is discussed for each of the market failures. Common property resources are also reviewed. Second, welfare depends on the policy setting in which decisions are taken. This is addressed under political economy, focusing at the process of policy-making and the relationship between government and different interest group on a political market. Third, non-efficiency related arguments for intervention, are introduced, motivated by policy-makers concern with consequences of the income distribution generated by the market. Focus is at motivations and instruments for income redistribution and social security. Finally, the funding of public spending is considered in a public finance perspective focusing at tax theory, efficient and equitable taxation and behavior. Throughout the theoretical part, the design and consequences of various economic policy instruments will be presented and analyzed in relation to the fulfilling of government objectives and the overall efficiency of resource allocation.
The applied part consists of case studies of agriculture, fisheries and environment policies, analyzing them using the instruments introduced in the theoretical part. In agriculture, government intervention terms like multifunctionality and the farm income problem are explained. In relation to policy instruments numerous agricultural policy measures are analyzed in relation to fulfilling objectives and resource allocation. On the revenue side taxes and tariffs are presented and on the expenditure side instruments like production reduction, price support and direct payments are presented. The agricultural policy-making process in the European Union is used to explain Public Choice. In fisheries, the tragedy of the commons where unregulated markets lead to overexploitation and overcapacity is reviewed. Finally, a case on water management is presented focusing at nitrogen pollution and management.
 
Undervisningsform
The teaching is based on lectures that introduce the central and crucial elements of the curriculum. Furthermore, there will be exercises in the theoretical part of the course in which the students can develop their understanding of the subject further.
 
Målbeskrivelse
The learning outcome of this course is to use economic theory (Welfare Economics, Public Choice and Public Finance) to explain the foundation of economic policy, the design and the efficiency of different policy instruments, welfare consequences of economic policy, and the process of policy-making. Overall it is expected that the students will learn basic tools for future economic policy analysis. After completing this course the student is expected to be able to:

Knowledge

. Identify welfare economic arguments for government intervention in markets
. Understand the concept of the market failures: public goods, externalities and asymmetric information
. Show overview of distribution and efficiency effects of government taxing activities
. Describe the political economy of the Common Agricultural Policy

Skills

. Analyze welfare, efficiency and income distribution consequences of policies in agriculture, fisheries and the environment
. Identify efficient policy instruments in these sectors using analytical tools from welfare economics
. Choose and apply relevant welfare economic analytical methods on cases within agricultural, fisheries and environmental policies

Competences

. Choose and apply relevant welfare economic analytical methods also on other policies than in agriculture, fisheries and the environment
 
Litteraturhenvisninger
The curriculum consists of a number book chapters, articles and report contriubutuons which is specified in details in the curriculum list.
 
Kursusansvarlig
Max Nielsen, max@foi.dk, Fødevareøkonomisk Institut/Faggruppe for Miljø- og Naturressourceøkonomi, Tlf: 353-36894
 
Studienævn
Studienævn NSN
 
Kursusbeskrivelsesomfang
forelæsninger54
teoretiske øvelser18
forberedelse133
eksamen1

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