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ECON 460. Public Finance

Credits: 3
Department: Economics
Description: The role of government in the economy: public revenues and expenditures, tax structure, inter-governmental fiscal relations, fiscal policy, and public debt management.
Prerequisites: ECON 205, ECON 206
Semester Offered: DEMAND
Grading Method: ABCDF

Student Learning Outcomes

1. Analyze the operation of the private markets focusing on situations involving market failure (externalities and public goods), and propose alternative government interventions to restore efficiency.
2. Examine the political decision making process, exploring alternative decision rules and evaluating the resulting outcomes.
3. Appraise the economic impact of government policies such as taxes, subsidies, transfers, and expenditures on private market prices, quantities, and efficiency.
4. Evaluate the impact of social security, income support or welfare programs, public education, public health and other specific programs on economic behavior (e.g. incentives to work, retire, save, attend school and other choices).
5. Demonstrate how different taxes (income, sales, property, etc.) undermine efficiency and impact economic growth, and debate appropriate methods of financing government activity.

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