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Content: This policy-oriented module offers an introduction to the role and limits of government interventions in the national and subnational management of developing and emerging economies.

The main emphasis is placed on: (i) the identification of most common market failures and the options available for government to address them; (ii) the choice and design of fiscal revenue and expenditures, and (iii) drivers of government failures and the interactions between economics and politics, including a wide range of policy issues and trade-offs.

Teaching delivery: This module is taught through 9 weekly lectures supported by readings and up to one-hour of asynchronous activities (including but not limited to short pre-recorded lectures). Indicative topics based on module content in 2023/24 (subject to possible changes) are:

Unit 1

Introduction to Public Economics and Public Policy –Why and How?

Unit 2

Market Failure 1: Externalities

Unit 3

Market Failure 2: Public Goods

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Reading Week

Unit 4

Market Failure 3: Information Asymmetry

Unit 5

Government –Objectives and Approaches

Unit 6

Revenue Generation at the National and Sub-National Levels

Unit 7

Public Choice and the Political Economy I

Unit 8

Public Choice and the Political Economy 2

Unit 9

Introduction to Policy Evaluation

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Module objectives: The objective of the course is to introduce participants to the approaches, methods, and ongoing debates in the field of public sector economics. The course will: (i) discuss policy challenges facing governments, including issues at the urban level and in different country contexts; (ii) provide an overview of the main economic tools and approaches used to analyse these challenges and evaluate policy responses; and (iii) highlight areas of ongoing academic debate. By the end of the course, the participants should be able to assess a wide range of policy issues and trade-offs. They should also have a sense of the scope for government intervention for a wide range of common policy concerns relevant to local governments, as well as the ways in which subnational and national governments can coordinate policies to meet local needs and demands

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Recommended readings:

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Core readings often draw on key textbooks such as Stiglitz, J. and J. K. Rosengard, The Economics of the Public Sector (various editions). Every week students are also provided with extensive readings that apply the key theory to empirical cases and real world examples.

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Additional costs: none.

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