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Lecturer(s)
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Stejskal Jan, prof. Ing. Ph.D.
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Gyamfi Solomon, Ing. Ph.D.
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Course content
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Introduction to problem Economics and public economics Public and non-profit sector Mixed economy and reasons for public sector existence Scope of poublic sector Public sector functions Alocation function Redistribution function Collective goods Externalities Natural monopoly
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Learning activities and teaching methods
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Monologic (reading, lecture, briefing), Dialogic (discussion, interview, brainstorming), Work with text (with textbook, with book), Methods of individual activities
- Participation in classes
- 26 hours per semester
- Contact teaching
- 13 hours per semester
- Preparation for a partial test
- 10 hours per semester
- Preparation for a final test
- 10 hours per semester
- Preparation for an exam
- 20 hours per semester
- Term paper
- 30 hours per semester
- Home preparation for classes
- 41 hours per semester
- Writing a seminar paper
- 30 hours per semester
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Learning outcomes
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The aim of the course is to acquaint students with basic issues and problems of public economics and economy and to create theoretical base for further follow-up disciplines, especially public finance of public sector. Students will be able to solve partial problems of public economics, they will: - understand causes and effects of particular public economic processes and; - know how to select and apply adequate methods when solving selected problems of public economics and economy. Students will obtain the knowledge how to defend these methods in discussions.
A student who has successfully completed the course can: to indicate the importance of collective action to society; describe and the benefits of collective action and justify the consequences of its absence; to characterize public economics and describe its relations with other disciplines; enumerate ways of measuring the size of the public sector and explain the consequences of different public sector sizes; describe the allocation function and explain its essence using the principles of general and partial equilibrium; explain the principle of natural monopoly. A student who has successfully completed the course can: to list the basic divisions of the public sector according to needs and explain their importance; to justify the existence of a public sector through the causes of market failures; describe individual types of collective goods using their main characteristics and describe their effective ways production in economics; describe externalities, enumerate individual species and explain their impact on the effective allocation of scarce resources; describe redistribution principles within redistribution function and explain the essence of stabilization function of the state in economy. The student who has successfully completed the course is able to: decide independently and responsibly in a model situation; summarize comprehensively the possibilities of solving the allocation problem in public economy; to communicate in a clear and convincing way to professionals and lay people information on the nature of professional issues and their own opinion on their solution; acquire additional expertise, skills and competences separately.
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Prerequisites
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Knowledge of microeconomics - the basic forms of imperfect competition, the basic principles of the functioning of markets and the behavior of market participants are expected.
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Assessment methods and criteria
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Oral examination, Written examination, Student performance assessment
Closing assignment: assignment test (two parts: middterm at November, 21-25 and test in last week of semester). The students must have more than 60 % from both tests for assignment. Final examination: written, eventually oral.
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Recommended literature
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CONNOLLY, S., MUNRO, A.:. Economics of the Public Sector. Harlow: Prentice Hall, 1999.
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Howard, M. Public Sector Economics For Developing Countries. Dilli: University of West Indies Press, 2015..
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Stiglitz, J. E. Economics of the Public Sector. New York: W. W. Norton & Company, 2010..
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Tresch, R. W. Public Sector Economics. London: Macmillan International Higher Education, 2014..
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