ECON-ECON-ADMIN-Econ3160H-A: Public Economics Course Start: *2021-01-06 Course End: *2021-04-06 Instructor Information: Saud Choudhry Email Address: *
[email protected]; Phone Number: * 705- 748-1011 x7871 Office Hours: Tuesday 1.00 - 2.00 P.M. EST.; Thursday 12.00 - 1.00 p.m. EST Other times by appointment. Lecture Times: Wednesday 19.00 p.m.- 21.50 p.m. EST To confirm times and locations please check: https://www.trentu.ca/timetable/ Description: Course Description This course is designed to cover the standard body of theory in Public Finance. We will also look at the application of the standard theory to issues in Canadian government taxation, expenditure and economic policies. This will familiarise you with the more commonly studied aspects of Canadian public finance. The course will commence with a theoretical discussion of the theory and analysis of government financial institutions, practices, problems and policies. Eventually, the slant of the course will be towards policy applications and historical analysis of major events in Canadian Public Finance. Learning Outcomes: This course will cover the essential elements of Canadian Public Finance. By the end of the course a successful student should be able to: 1. Identify and understand the standard theories of government taxation, expenditure and analysis. 2. Understand why externalities and public goods are important sources of market failure and thus raise serious public policy questions. 3. Understand general tax theory, along with data requirements and the use of economic models in applications of the theory. 4. Understand how the federal budget process works as well as gain insights into the kind of tensions it entails between ministers, government departments and the various regions within Canada. 5. Understand fiscal issues of federalism and to provide an assessment of microeconomic performance and fiscal policy. 6. Gain insights into the more important issues surrounding the budgetary process in Canada; how politicians, bureaucrats and interest groups continually seek to influence budgetary decisions. Texts: Harry Rosen et al., Public Finance in Canada, 5th Canadian Edition The online assignments will be done through MyEconLab. You will have to purchase access to this package in order to complete your assignments. Reference Texts: (In Trent University Library) • Jonathan Gruber; Public Finance and Public Policy, Third Edition, Worth Publishers, 2012. • David N. Hyman & John C. Strick, Public Finance in Canada: A Contemporary Application of Theory and Policy, Harcourt Brace & Co., 1995. • Musgrave, Richard, Peggy Musgrave and Richard Bird, Public Finance in Theory and Practice, Canadian Edition, McGraw-Hill Ryerson, 1987. Course Evaluation Nature of Assignment, Quizzes and Test Questions. • Term work will count for 65 percent of the final grade. It will be based 6 assignments (accounting for 40% of the total grade), and one term test (25%). The final 35 percent of the year's mark will be based on the final examination. • The assignments will be online assignments and will mainly involve solving numerical questions. They will be very similar to the questions that we will be discussing and solving in class, as we proceed through the various chapters. • The Quizzes will be all multiple-choice questions, testing your understanding of the key theoretical concepts and ideas. • The Term Test and the Final Examination will be on BB and the questions will be similar to those encountered in the assignments. • Numerical marks and letter grades in this course follow the grade equivalents set out in the Trent University Academic Calendar. Assessments, Assignments and Tests: Assignments: The SIX on-line assignments will be made up of both multiple choice questions and short answer questions. Many of the latter will involve solving numerical problems. We will be using MyEconLab for this purpose. The due dates for the assignments are as follows: Assignment 1 (Due Jan 27, 2021; 12.00 am EST). Assignment 2 (Due Feb. 12, 2021; 12.00 am EST) Assignment 3 (Due Feb. 27, 2021; 12.00 am EST) Assignment 4 (Due Mar. 10, 2021; 12.00 am EST) Assignment 5 (Due March 21 , 2021; 12.00 am EST) Assignment 6 (Due April 3, 2021 ; 12.00 am EST) You will need to register at www.myeconlab.com in order to attempt the online assignments. Midterm Exam: Worth 25 % - on Feb. 24 , 2021. Start time: 7.00 pm EST; Closes 8.00 pm EST This test will be on Blackboard and MUST be taken during the posted lecture time. No exceptions. Final Exam: Worth 40%. The Final exam will have the same format as the Midterm and will be conducted on Blackboard as well, on the appointed day and time. No exceptions. The date of the Final Exam will be announced by the Registrar's Office and will be during the University Final Exam Period. Grading: Assignments: 40 percent. Midterm: 25 percent. Final Exam: 35 percent. Grade Total by Withdrawal Date: 40 percent by final withdrawal date. Final date for withdrawal from Winter-term courses is March 9, 2021. After this date students remain registered in the courses and receive final grades. Course Guidelines: Please see the Trent University academic calendar for University Diary dates, Academic Information and Regulations, as well as withdrawal dates (without penalty). Matters pertaining to the course will be routinely posted on the Blackboard. University Policies: Academic Integrity Academic dishonesty, which includes plagiarism and cheating, is an extremely serious academic offence and carries penalties varying from failure on an assignment to expulsion from the University. Definitions, penalties, and procedures for dealing with plagiarism and cheating are set out in Trent University’s Academic Integrity Policy. You have a responsibility to educate yourself – unfamiliarity with the policy is not an excuse. You are strongly encouraged to visit Trent’s Academic Integrity website to learn more: www.trentu.ca/academicintegrity. Access to Instruction It is Trent University's intent to create an inclusive learning environment. If a student has a disability and documentation from a regulated health care practitioner and feels that they may need accommodations to succeed in a course, the student should contact the Student Accessibility Services Office (SAS) at the respective campus as soon as possible. Schedule: Week by Week Schedule The schedule of topics is listed below: I will follow the order of topics as given and will regularly communicate in class and on the LearningSystem/Blackboard about the pacing of the lectures. I will be lecturing on Zoom and I expect you to attend the lectures at the posted time. The lectures will try to emulate the live classroom experience as closely as possible. For this reason, it is important that you log on to the the lectures every week. All pertinent information will be posted on Blackboard. So please log on to the learningSystem/Blackboard on a regular basis. 1. Introduction to Public Finance in Canada -Rosen et al., Chapter 1 -J.C. Strick, Ch.1 (The Public Sector in Canada) (Week 1; Jan.13) 1. Public Goods - Rosen et al,, Chapter, 4. - Musgrave, Musgrave & Bird, Chs. 3 & 4. - Gruber, Ch. 7 (Week 2; Jan. 20) 1. Externalities - Rosen et al., Chapter, 5. -Gruber, Ch.5 & 6 - Musgrave, Musgrave & Bird, ch 4. (Weeks 3 and 4; Jan 27; Feb. 3) 1. Public Choice and the Political Process - Rosen et al., Ch. 7. - Musgrave, Musgrave, & Bird, ch. 6. (Week 5; Feb. 10) Reading Break (Feb. 15 - Feb. 19) 1. A Framework for Tax Analysis - Rosen et al., Chapters 15 , 16 and 17. - J. C. Strick, Chapters 4, 5 and 6 - Gruber, Chapter 18, 19 and 20 (Feb. 24- March 10) 2. Fiscal Federalism - Rosen et al., Chapter 8 - J.C. Strick, Chapters 7 and 8. - Musgrave, Musgrave, & Bird, Ch. 23 & 24. o (March 17, 24) 3. Unemployment Insurance - Rosen et al., Chapter. 10. (March 31; April 7)
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