|Lecturer:||Prof. Christina Felfe de Ormeño, Ph.D.|
|Time:||Mo, 8 - 10 h|
|Room:||HS 216 (Audimax)|
|Time:||Group 1: Thu, 16 - 18 h|
Group 2: Thu, 18 - 20 h
Group 3: Fri, 8 - 10 h
Group 4: Fri, 10 - 12 h
Structure and content
This course provides an introduction into public economics/finance. Public finance studies the role of the government in the economy. It basically answers four questions: When should the government intervene? How might the government intervene? What is the effect of those interventions? Why do governments choose to intervene in the way that they do?
The aim of the course is to provide students with and understanding of the public policy making process of the government and to endow them with the necessary skills to judge about and/or design public policies. Students will leanr the core theoretical models of public economics as well as modern empirical methods of public finance. The focus will not lie on the theoretical details, but rather on the beauty of the different methods to provide answers to public policy questions.
The lecture will cover the following topics:
I. Introduction into public economics/finance
II. Theoretical toolkit
III. Empirical toolkit
IV. Public goods
V. Cost Benefit Analysis
Participants should be acquainted with the core theoretical models of public economics and dominate the basic empirical methods used nowadays for policy evaluation.
Main reference for the lecture is Gruber, J. (2016): Public Finance and Public Policy, 5th edition, Worth Publishers, New York.
Written exam (60 min.)
Basic knowledge in microeconomics and econometrics.
Prof. Christina Felfe de Ormeño
Structure and content
Empirical methods are the core of public policy making. Writing an empirical paper requires creativity, but also strong econometric skills. The aim of the course is to familiarize students how to structure the different steps required to write an empirical paper and provide them with the essential skills to conduct their own empirical study. At the end of the course, students should be able to formulate a clear research question, identify the contribution to the existing literature and structure the necessary steps to answer the research question empirically. This can be the first step towards an empirical bachelor thesis in public economics.
Participants should acquire the skills to set up an empirical study to analyze a public policy question.
Angrist, J. and Pischke, S. (2015). “Mastering Metrics the Path from Cause to Effect”. Princeton University Press
Basic knowledge in microeconomics and econometrics (taught in the lecture “Public Policy”).
A first meeting to discuss the procedure of the seminar will take place on Monday, May 6, 2019 at 10:30 in room 298. Presentation of the outline of the seminar paper is scheduled for June 26, 2019. The deadline to hand in the seminar paper is August 31, 2019.