Public Finance

Upon completion of the lectures, the students will fully understand the market failures, with emphasis on externalities and public goods, as well as the necessity of public intervention for the achievement of economic efficiency. Moreover, they will assimilate the principles, the mechanisms, and the fundamental theorems of Welfare Economics, and they will be able to solve relative problems. Furthermore, the students will obtain elementary knowledge on the instruments of fiscal policy (government spending and taxes), and their implications. Finally, they will have the ability to use the principles of economic theory in order to solve specialized problems of public finance and policy, and they will develop analytical and critical thinking.