ECO-40016 - Module Specification
Keele Business School
Faculty of Humanities and Social Sciences

Programme/Approved Electives for 2024/25

Available as a Free Standing Elective

Co-requisites

None

Prerequisites

None

Barred Combinations

None

Description for 2024/25

The Module develops advanced knowledge and understanding of the economics of the public sector and public policy. The relative merits of provision of goods and services by the private or public sector is a fundamental question underlying much intellectual and public discourse, and this Module will get to the core of the debates. The approach is analytical and applied, emphasising policy and real-world challenges. Alongside the key theoretical concepts and established theory, particular areas of interest such as the economics of government expenditure in areas such as welfare, technology and education will be emphasised. Policy tools such as social cost-benefit analysis and mechanisms of social choice are explored.

The Module develops students' knowledge and understanding of the economics of the public sector and public policy. The approach will be both analytical and intuitive, emphasising policy and real-world applications. Alongside the key theoretical concepts and established theory, particular areas of interest such as the economics of government expenditure in areas such as welfare, technology and education will be emphasised. Policy tools such as cost-benefit analysis, 'The Green Book' and 'monetisation of non-market goods' alongside mechanisms of social choice will be explored.

Intended Learning Outcomes

Appraise the strengths and limitation of key theoretical concepts such as efficiency, equity, market failure, externalities and public goods, and appreciate their relevance in diverse applied contexts
: 1
Develop insights into the effects, incidence and desirable characteristics of various taxation systems and their implications for current funding challenges.
: 1
Critically analyse the key trade-offs between efficiency and equity, the mechanisms by which social choice is made and the available methods for redistribution
: 1
Compare and contrast the methods and tools and methods by which public policy can be evaluated in practice, such as (social) cost-benefit analysis, shadow prices and the discount rate: 1

Study hours

20 hours lectures
5 hours seminars
8 hours group study
10 hours seminar preparation
55 hours private study
52 hours project preparation

School Rules

Available as an option if students have relevant knowledge at UG level (L5 or L6), to be assessed by the Module Leader in association with the Programme Director.

Description of Module Assessment