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Eco3001 Public Economics Course Outline

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20 views3 pages

Eco3001 Public Economics Course Outline

Uploaded by

Lehlabile Valentia
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Nelson Mandela Metropolitan University

Faculty of Business and Economic Sciences


Department of Economics and Economic History

ECO 3001/BED 3001/3011: PUBLIC ECONOMICS


Semester One
Course Outline

PURPOSE
To equip students with the knowledge to comprehend the intricacies and complex interfaces that exist in the theory,
practice and principles of public economics, with specific reference to management functions and quantitative
management techniques in the public sector

LEARNING OUTCOMES
The students will be able to
• Outline the field of study of Public Economics, highlighting key issues and fiscal challenges facing the public
sector South Africa
• Describe public goods and externalities as important sources of market failure
• Describe distribution of wealth or income as a source of market failure
• Reflect on the issue of incomplete markets and explain the impact of incomplete markets on the economy
• Link issues relating to social welfare to the distribution of wealth or income
• Identify and describe the various forms of taxation
• Describe taxation in its various forms as the major source of government revenue
• Explain the range of impacts of the various forms of taxation on the economy
• Analyse the impact of taxes on efficiency in the allocation of resources
• Outline and debate significant reform issues and economic policies regarding South Africa
• Describe the nature of fiscal policy in South Africa
• Outline the nature of and explain the implications of public debt on the economy
• Demonstrate a clear understanding of Fiscal Federalism by explaining its application in South Africa

Presenter: Mr C Johnson
Department of Economics
Nelson Mandela University
Telephone: 041 504 1404
E-mail: clifford.johnson@mandela.ac.za
Office: 131

Prescribed Textbook: Black, P.A., Calitz, E. Steenekamp, T.J. and Associates 2019. Public Economics. Cape
Town; Oxford University Press. Seventh Edition.
Supplementary Readings: Will be listed at the appropriate topics on the Power Point slides and on the Moodle
module site.
Objectives of the Course: To establish, understand and apply the principles underlying the Economics of:

• The public sector and its role in a market economy,


• Taxation,
• Fiscal Policy, all illustrated under South African conditions.
o South African conditions imply the type of federal system which the country has with three
spheres or levels of government.
Chapters to be covered in this course:

Chapter 1
Chapter 2
Chapter 3
Chapter 5
Chapter 6
Chapter 11
Chapter 12

Preparation for Lectures:

It is expected of students to set aside time before attending the lectures of a week to prepare the literature
prescribed for that week. In particular students should focus upon matters such as:

• The objectives of the prescribed literature. In the prescribed textbook this is normally found in the
introduction to each chapter.
• The terminology used in that literature. The textbook often highlights main concepts where they are
used in the text. Make a note of new terminology which you did not yet encounter.
• Terminology which you did encounter before; refresh your memory by referring back to first and
second year textbooks.
• Microeconomic diagrams that are used in the literature. Relate these to your present knowledge of
Microeconomics by referring to earlier textbooks. Not much time will be given to the construction of
these Microeconomics diagrams in the lectures because of your thorough grounding in
Microeconomics 1 and 2. Attention will instead be focused on the economic significance of the issue
illustrated by means of the diagram.
• Technical analyses with the aid of formulae/equations. Under normal circumstances you will not be
expected to memorise formulae/equations for assessment purposes. It is of more importance to
understand why each of the elements of a formula/equation is included and where it is obtained from.
• The way in which the authors arranged the material; what are their main points and how do they sub-
divide their main points into sub-points?
• An outline of their conclusions.
• Questions that arise in your mind while reading and which you would like to have discussed/explained
in class. Also questions and issue arising from your daily reading of newspapers, magazines, journals
or from the broadcast media.
o Consider sending me an e-mail in cases such as these.

COURSE DELIVERY

This course will be presented in a hybrid approach. Therefore, face to face, online via Ms Teams and Unitube
for the lecturing component will be exercised. The course material and assessments will be placed on Moodle
but will be written in the assessment period as arranged by the lecturer. Assessment practice and methods may
change at any point during the semester. However, this will be communicated in advance during the semester.

It is very important for students to have the following:

A laptop or desktop computer


A smartphone
Reasonably stable internet connectivity, and
A place to study to effectively learn online from home (remotely).
2
ASSESSMENTS

The final mark for this module consists of two semester tests and an End of Module Assessment (EMA) with
a weighting of 20% per semester test and EMA mark of 60% towards the final mark. A first semester test
reassessment and an assignment can be completed in the instance that the first and second semester test mark
is less than 50% - these mark will be capped at 50% towards replacing the first and second semester test mark,
respectively. The assignment topic will be posted on Moodle.

Assessment dates:
- First semester test – 22 March
- Second semester test – 19 April

- Exam – 5 June
- Supplementary Exam – 21 July

REMEMBER - if a test is missed for a valid reason, documentary proof must be presented to the Department
of Economics within 3 working days of missing the test. No late excuses will be accepted.
________________________________________________________

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