{"ModuleCode":"EC4351","ModuleTitle":"Public Economics","Department":"Economics","ModuleDescription":"This module provides an in depth analysis of the latest development in public sector economics. The macroeconomic consequences of the microeconomic impacts of taxation, expenditures and financing schemes are analyzed. It also covers contemporary topics such as fiscal policy and ageing, social security and intergenerational transfers. Students are also exposed to research methodologies and empirical studies involving computable general equilibrium modelling and generational accounting. Students taking this module are expected to have some basic knowledge of public finance.","ModuleCredit":"5","Workload":"0-3-0-2-7.5.","Prerequisite":"Cohort 2011 and before: Completed 80 MCs, including 28 MCs in EC, with a minimum CAP of 3.50 or be on the Honours track. EC3101, EC3102, EC3303. Cohort 2012 onwards: Completed 80 MCs, including 28 MCs in EC, with a minimum CAP of 3.20 or be on the Honours track. EC3101, EC3102, EC3303.","ExamDate":"2015-12-03T13:00+0800","ExamDuration":"P2H","ExamVenue":"MPSH1-B","Types":["Module"],"Lecturers":["Bag, Parimal"],"IVLE":[{"Announcements":null,"Forums":[],"Workbins":[],"Webcasts":[],"Gradebooks":[],"Polls":[],"Multimedia":[],"LessonPlan":[],"ID":"956bdf03-48e4-4109-a66a-af53b00f13f7","CourseLevel":"1","CourseCode":"EC4351","CourseName":"PUBLIC ECONOMICS","CourseDepartment":"","CourseSemester":"Semester 1","CourseAcadYear":"2015/2016","CourseOpenDate":"/Date(1433433600000+0800)/","CourseOpenDate_js":"2015-06-05T00:00:00","CourseCloseDate":"/Date(1449331140000+0800)/","CourseCloseDate_js":"2015-12-05T23:59:00","CourseMC":"0","isActive":"Y","Permission":"S","Creator":{"UserID":null,"Name":"Bag, Parimal","Email":null,"Title":null,"UserGuid":"ee435c1e-220e-4ed0-b2a7-e358ef406ca4","AccountType":null},"hasGradebookItems":false,"hasTimetableItems":true,"hasGroupsItems":false,"hasClassGroupsForSignUp":false,"hasGuestRosterItems":false,"hasClassRosterItems":false,"hasWeblinkItems":false,"hasLecturerItems":true,"hasDescriptionItems":true,"hasReadingItems":false,"hasAnnouncementItems":false,"hasProjectGroupItems":false,"hasProjectGroupsForSignUp":false,"hasConsultationItems":false,"hasConsultationSlotsForSignUp":false,"hasLessonPlanItems":false,"Badge":0,"BadgeAnnouncement":0,"WebLinks":[],"Lecturers":[{"ID":"c6bbc0b7-9025-4b37-830f-4a5121a84ac8","User":{"UserID":null,"Name":"Bag, Parimal","Email":null,"Title":null,"UserGuid":"ee435c1e-220e-4ed0-b2a7-e358ef406ca4","AccountType":null},"Role":"Lecturer ","Order":1,"ConsultHrs":null}],"Descriptions":[{"ID":"1e5f053b-8835-4692-be49-41f07234cfff","Title":"Learning Outcomes","Description":"MODULE OBJECTIVES
\r\n
\r\n
\r\nThis module aims to introduce the students to some core issues in public economics. The module is aimed at senior undergraduate Honors students with some basic knowledge of mathematics (calculus), microeconomics and game theory. You do not need to have a formal module of game theory as pre-requisite, just familiarity with the basic equilibrium solution concepts should suffice. If in doubt about the appropriateness of your background, please do consult me before enrolling for this module.
\r\n","Order":1},{"ID":"2e5f053b-8835-4692-be49-41f07234cfff","Title":"Prerequisites","Description":"Cohort 2011 and before:\r\nCompleted 80 MCs, including 28 MCs in EC, with a minimum CAP of 3.50 or be on the Honours track. EC3101, EC3102, EC3303.\r\n\r\nCohort 2012 onwards:\r\nCompleted 80 MCs, including 28 MCs in EC, with a minimum CAP of 3.20 or be on the Honours track. EC3101, EC3102, EC3303.","Order":2},{"ID":"3e5f053b-8835-4692-be49-41f07234cfff","Title":"Teaching Modes","Description":"LECTURES
\r\n
\r\nThere will be a total of 12 lectures plus one week (either week 7 or 8) for the mid-term. In each meeting, the first hour and half will be in the form of lecture; the final hour will be for the tutorial.
\r\n
\r\n
\r\nTUTORIALS
\r\n
\r\nTutorials will require major input from the students in the form of presentations of pre-assigned exercises. Unless announced otherwise, tutorial presentations will be held in the last hour of the three-hour slot. Students will be asked to form small groups for tutorial presentations.
\r\n
\r\n","Order":3},{"ID":"4e5f053b-8835-4692-be49-41f07234cfff","Title":"Schedule","Description":"TENTATIVE COURSE OUTLINE/SCHEDULE of LECTURES
\r\n
\r\nAll chapters referred to below are from the textbook --
\r\nIntermediate Public Economics, 2nd edition
\r\nby
\r\nJean Hindriks and Gareth D. Myles
\r\n
\r\nMIT Press; ISBN 978-0262-01869-2
\r\n
\r\nYou may expect some adjustments to the topics.
\r\n
\r\n
\r\nL1: Equilibrium and Efficiency Ch. 2
\r\n Theories of the Public Sector Ch. 5
\r\n
\r\n
\r\n
\r\nL2: Behavioral Economics Ch. 3
\r\n Introduction to Public Goods Ch. 6
\r\n
\r\n
\r\n
\r\nL3: Continue with: Public Goods Ch. 6
\r\n Introduction to Club Goods
\r\n & Local Public Goods Ch. 7
\r\n
\r\n
\r\n
\r\nL4: Continue with: Club Goods
\r\n & Local Public Goods Ch. 7
\r\n Introduction to: Externalities Ch. 8
\r\n
\r\n
\r\n
\r\nL5: Continue with: Externalities Ch. 8
\r\n
\r\n
\r\n
\r\nL6 & 7/8: Articles reading:
\r\n
\r\nTimothy Besley and Stephen Coate, “Centralized versus decentralized provision of local public goods: a political economy approach,” Journal of Public Economics, Dec 2003, volume 87, no. 12, pp. 2611-2638. (It’s a long article but summary lecture notes will be circulated.)
\r\n
\r\nBruce, Neil and Michael Waldman, “Transfers in kind, why they can be efficient and non-paternalistic,” American Economic Review, December 1991, pp. 1345-1351.
\r\n(Relatively short article and is easy to read.)
\r\n
\r\n
\r\nL7/8 may be assigned to group discussion for E-Learning week.
\r\n
\r\n
\r\n* One of two Lecture weeks 7/8 will be assigned for the Mid-term. Please take note as missing the mid-term cannot be excused.
\r\n
\r\n
\r\n
\r\nL9: Voting Ch. 11
\r\n&10 Additional materials may be drawn from journal articles such as:
\r\n
\r\nLizzeri Alessandro and Nicolas Persico, “The provision of public goods under electoral incentives,” American Economic Review, 2001, volume 91, pp. 225-239.
\r\n(The focus should be on the economic message rather than the technicalities.)
\r\n
\r\n
\r\n
\r\n L11: Income Taxation Ch. 16
\r\n&12 Supplementary materials will be suggested.
\r\n
\r\n
\r\n
\r\n L12: If time permits,
\r\n&13
\r\n Fiscal Federalism Ch. 19
\r\n (Some journal article may also be assigned.)
\r\n
\r\n Otherwise,
\r\n
\r\n Module summary
\r\n","Order":4},{"ID":"6e5f053b-8835-4692-be49-41f07234cfff","Title":"Syllabus","Description":"Please refer the Schedule.","Order":6},{"ID":"8e5f053b-8835-4692-be49-41f07234cfff","Title":"Assessment","Description":"ASSESSMENT
\r\n
\r\nThere will be a closed-book final exam (date & time tba) worth 65% of the overall course grade. Of the remaining, 25% will consist of an in-class mid-term test and 10% for tutorial presentations and class participation/discussions.","Order":8},{"ID":"66a7f5cd-a3dd-4ea4-8c5f-9f98a6ddd762","Title":"Preclusions","Description":"NIL","Order":9},{"ID":"da9c7c3d-de63-45a9-b691-9d41cb7416bf","Title":"Workload","Description":"0-3-0-2-7.5.
Workload Components : A-B-C-D-E \r\n
A: no. of lecture hours per week \r\n
B: no. of tutorial hours per week \r\n
C: no. of lab hours per week \r\n
D: no. of hours for projects, assignments, fieldwork etc per week \r\n
E: no. of hours for preparatory work by a student per week","Order":10}],"ReadingFormatted":[],"ReadingUnformatted":[]}],"Timetable":[{"ClassNo":"1","LessonType":"Seminar-Style Module Class","WeekText":"Every Week","DayText":"Wednesday","StartTime":"0900","EndTime":"1200","Venue":"AS1-0304"}],"CorsBiddingStats":[{"AcadYear":"2015/2016","Semester":"2","Round":"1A","Group":"Seminar-Style Module Class 1","Quota":"40","Bidders":"45","LowestBid":"1","LowestSuccessfulBid":"20","HighestBid":"3000","Faculty":"Arts & Social Sciences","StudentAcctType":"Returning Students [P]"},{"AcadYear":"2015/2016","Semester":"2","Round":"3A","Group":"Seminar-Style Module Class 1","Quota":"1","Bidders":"11","LowestBid":"409","LowestSuccessfulBid":"3382","HighestBid":"3382","Faculty":"Arts & Social Sciences","StudentAcctType":"NUS Students [P]"},{"AcadYear":"2015/2016","Semester":"1","Round":"1A","Group":"Seminar-Style Module Class 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[P]"},{"AcadYear":"2015/2016","Semester":"1","Round":"2B","Group":"Seminar-Style Module Class 1","Quota":"13","Bidders":"0","LowestBid":"0","LowestSuccessfulBid":"0","HighestBid":"0","Faculty":"Arts & Social Sciences","StudentAcctType":"Returning Students [P]"},{"AcadYear":"2015/2016","Semester":"1","Round":"3A","Group":"Seminar-Style Module Class 1","Quota":"18","Bidders":"1","LowestBid":"2800","LowestSuccessfulBid":"1","HighestBid":"2800","Faculty":"Arts & Social Sciences","StudentAcctType":"NUS Students [P]"},{"AcadYear":"2015/2016","Semester":"1","Round":"3B","Group":"Seminar-Style Module Class 1","Quota":"17","Bidders":"2","LowestBid":"1","LowestSuccessfulBid":"1","HighestBid":"57","Faculty":"Arts & Social Sciences","StudentAcctType":"NUS Students [P]"},{"AcadYear":"2014/2015","Semester":"2","Round":"1A","Group":"Seminar-Style Module Class 1","Quota":"40","Bidders":"5","LowestBid":"1","LowestSuccessfulBid":"1","HighestBid":"10","Faculty":"Arts & Social 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