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Semester 1

Fiscal Policy, Macroeconomics and Inequality (ECNM10104)

Subject

Economics

College

CAHSS

Credits

20

Normal Year Taken

3

Delivery Session Year

2022/2023

Pre-requisites

Visiting students must have completed the equivalent of at least 4 semester-long Economics courses at grade B or above for entry to this course. This MUST INCLUDE courses in: Intermediate Macroeconomics (with calculus); Intermediate Microeconomics (with calculus); Probability & Statistics. If macroeconomics and microeconomics courses are not calculus-based, then, in addition, Calculus (or Mathematics for Economics) is required at grade B or above.

Course Summary

This course is about the role of the government in the economy. The main goals of this course are to provide an understanding of the reasons for government intervention in the economy, and to analyse its consequences while taking into account the response of economic agents to the government's actions.

Course Description

This course is about the role of the government in the economy. The main goals of this course are to provide an understanding of the reasons for government intervention in the economy, and to analyse its consequences while taking into account the response of economic agents to the government's actions. The course starts with covering basic notions and results of welfare economics (rationales for government intervention, Pareto efficiency, Fundamental Welfare Theorems). The second part will introduce students to a broad analysis of fiscal policy (taxation, government spending, social security). We will focus particularly on the design of tax and transfer systems, the theory of optimal taxation, analysing the impacts of different tax policies on agents decisions, inequality, and the economy as a whole. Emphasis will be given to the current policy debates on taxation and inequality. By the end of the course, students will acquire the necessary theoretical tools and the economic theory point of view to analyse important public policy issues.

Assessment Information

Written Exam 60%, Coursework 40%, Practical Exam 0%

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Disclaimer

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