The Economics of Public Policy
Module Code: EC2030
Module Title: Economics of Public Policy
- ECTS Weighting: 10
- Semester/Term Taught: Michaelmas + Hilary Term
- Contact Hours: 44 hours of lectures and 10 hours of tutorials
- Module Personnel: Lecturer – Professor Francis O'Toole
Learning Outcomes
Having successfully completed this module, you will be able to:
- address public/social policy issues through the language and approach of economics; and, articulate economic reasoning and results.
Satisfactory completion of this module will contribute to the development of the following skills:
- interpretation of public/social policy phenomena using appropriate economic policy tools and terminology; critical analysis of real world public/social policy issues; and economic reasoning, and critical evaluation of same, in clear and concise English.
Module Content
The issue of market provision and/or state provision provides a central and recurring theme in this module. This module begins by examining different philosophical theories of the state, possible trade-offs between (economic) efficiency and equity (as well as administrative simplicity) and exploring the (developmental) welfare state. Within each policy area covered, the module investigates market failure and government failure, via for example consideration of externalities, informational problems and an examination of the public choice perspective. Education and health represent two of the major policy areas to be covered. Other specific topics expected to be covered include: poverty and inequality; regulation (e.g. “nudging”); taxation; housing (e.g. rent control) and, competition policy.
Recommended Reading List
One of the following two textbooks should be purchased:
Le Grand, J., Propper C. and S. Smith, The Economics of Social Problems, 4th Edition, palgrave macmillan, 2008.
Barr, N., Economics of the Welfare State, 5th Edition, Oxford University Press, 2012.
The following books would provide stimulating background reads:
O'Hagan, J., and C. Newman (eds): The Economy of Ireland: National and Sectoral Policy Issues, (12th edition), Gill and Macmillan, 2014.
Sandel, M., What Money Can't Buy: The Moral Limits of Markets, Penguin Books, 2012.
Thaler, R., and C. Sunstein, Nudge, Penguin Books, 2009.
A more detailed (and by its nature evolving) reading list will also be available on the module website during the module.
Assessment Details
It is envisaged that a written assignment due by the beginning of week 6 in Hilary Term (i.e. Monday 22nd February 2015) will account for 20% of the overall grade for EC2030. It is envisaged that the end of academic year examination will account for the remaining 80% of the overall grade for EC2030.
Module Pre-Requisite
EC1010 or equivalent (e.g. EC1040).
Module Website
Blackboard