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Public Finance

Public Finance
Professor Guy Pascale

Semester: Spring 2012
ID#: 50:220:442:40
Index #: 77297
Room: Armitage 221
Office Hours: M-W 2:00-4:20 and by appointment
Phone: (856) 225-6136
E-mail: pascale@camden.rutgers.edu

Texts:

All materials available on SAKAI.

Overview of the Course:

This course is designed to expose students to the important terms and concepts related to the subject of public finance. Once completed students should understand the fundamentals of welfare economics, public expenditure theory, expenditure programs, taxation theory, and taxation in the United States.

Grading:

During the semester, there will be three exams and a final. The exams only encompass material covered from the previous exam. The final is cumulative. The tests are worth 15% and the final is worth 30% of your grade. The tests occur on 2/8, 3/21, and 4/25. The exams and final consist of a mixture of multiple choice and problems.

All electronic devices must be turned off during exams.

Attendance is worth 10% of the final grade.

A fifteen-page paper is also required which counts for 20% of the final grade and is due on 4/11. The paper must be submitted via e-mail attachment as a Microsoft Word document. The topic must relate to public finance and be approved by the professor. Students may hand in a draft of their paper on 3/28. Comments and suggestions will be returned to students in the order that they are received. Late papers will cause a substantial reduction in a student’s paper grade.

Test1

Test2

Test3

Paper

Final

Attendance

Total

15%

15%

15%

20%

25%

10%

100%

There are no makeup exams. Individuals who miss an exam will have their final exam weighted to include the missed exam. Thus, a student missing an exam will have the final count as 40% of their final grade.

There is no extra creditfor this course.

Cheating: THE UNIVERSITY HAS A WELL DEFINED POLICY ON CHEATING AND ACADEMIC DISHONESTY. IN SUMMARY, DON’T DO IT.

Class Room Etiquette:

Cell Phones must be turned off during class.

School policy allows for the removal of any student who is a disruption in the classroom. A cell phone ringing in class
constitutes a disruption and will adversely impact your final grade.

Course Outline

Part I: Introduction, Fundamentals of Welfare Economics, and Expenditure Theory
Section 1.1: The Mixed Economy: the Public Sector and the United States
Section 1.2: Market Efficiency and Failure
Section 1.3: Efficiency, Equity, and Public Goods
Section 1.4: Public Choice

Part II: Expenditures Programs
Section 2.1: Public Production and Externalities
Section 2.2: Analysis of Expenditure Policy and Cost Benefit Analysis
Section 2.3: Healthcare, Defense, and Technology
Section 2.4: Social Insurance

Part III: Expenditure Programs (cont.) and Taxation Theory
Section 3.1: Welfare Programs and Education
Section 3.2: Introduction to Taxation and Tax Incidence
Section 3.3: Taxation, Efficiency, and Optimal Taxation
Section 3.4: Taxation of Capital