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This economics textbook was designed as the source material for taught courses in the first year of an undergraduate degree, although it has also been used in schools, and for advanced courses in public policy. As of 2024 this textbook is available in English, Italian, French, Spanish, Finnish, German and partially in Portuguese.
The focus of this course is on economics of the public sector. It addresses the fundamental issue of the appropriate role of government activity in a market economy. It examines the behavioral consequences of government policy from the perspective of the consumers, the policymakers, regulators, and general taxpayers.
Course name Public Economics Institution Claremont McKenna College Instructor Laura Grant Wikipedia Expert Shalor (Wiki Ed) Subject Course dates 2020-01-21 00:00:00 UTC – 2020-06-06 23:59:59 UTC Approximate number of student editors 36
Public economics (or economics of the public sector) is the study of government policy through the lens of economic efficiency and equity. Public economics builds on the theory of welfare economics and is ultimately used as a tool to improve social welfare. Welfare can be defined in terms of well-being, prosperity, and overall state of being.
Within academic settings, public finance is a widely studied subject in many branches of political science, political economy and public economics. Research assesses the government revenue and government expenditure of the public authorities and the adjustment of one or the other to achieve desirable effects and avoid undesirable ones. [ 2 ]
Behavioral economics and public policy is a field that investigates how the discipline of behavioral economics can be used to enhance the formation, implementation and evaluation of public policy. [ 1 ] [ 2 ] Using behavioral insights, it explores how to make policies more effective, efficient and humane by considering real-world human behavior ...
Social choice theory is a branch of welfare economics that extends the theory of rational choice to collective decision-making. [1] Social choice studies the behavior of different mathematical procedures (social welfare functions) used to combine individual preferences into a coherent whole.
In modern public-finance literature, a whole economy of the tax system has developed (tax system economics), which can be defined as "the overall management of public revenue of a state or integration grouping's public revenues and expenditures in order to shape smart economic policies that stimulates economic growth and development and ...