Public economics (ECON756_ESBC )

• Semester 7
• Duration :  Within one semester  
• Type: Mandatory

• Student workload:  Lecture (CM): 9 hours, Tutorials (TD): 9 hours 

• Teaching and learning method: Lectures 

• Applicability: ESBC course only 

• Module examination:  2 written exam (50% + 50%)

Responsible person for the module: Masha Pautrel

Senior Lecturer in Economics,  Faculté de droit, d’économie et de gestion, Université d’Angers

https://www.univ-angers.fr/fr/acces-directs/annuaire-2/p/a/uduser-m-masliansk-fr.html

Major intended learning outcomes 

This course offers an in-depth exploration of microeconomic theories, focusing on supply-side economics, market structures, and the basics of public economics. It aims to provide students with a robust understanding of how markets operate from the supply side, the various types of market structures, and an introduction to how government interventions can impact these markets. 

Learning Objectives: 

By the end of this course, students will be able to: 

• Analyze and apply microeconomic theories related to supply and production. 
• Understand different market structures and their impact on price and output decisions. 
• Evaluate the role of government in economic markets, including taxation and regulation. 
• Critically assess the implications of public policies on market efficiency and equity.

Correspondence between major intended learning outcomes and assessment 

Evaluation: Students will select a market structure to analyze, examining real-world examples of companies or industries that operate under this structure. The project will include an in-depth written report and a class presentation discussing the implications of market structure on business strategies and public policy. 

Principles of economics

Course Outline: 

1. Introduction to Microeconomics and Supply-Side Fundamentals 

1. 1. Basic principles of microeconomics: Demand, supply, and market equilibrium 
   2. Factors of production and the production possibility frontier 
   3. Supply-side economics: Policies and impacts 

2. Market Structures 

1. 1. Perfect competition: Characteristics and efficiency 
   2. Monopoly and monopolistic competition: Barriers, pricing strategies, and economic outcomes 
   3. Oligopoly: Game theory and strategic behavior 

3. Role of Government in Market Operations 

1. 1. Market failures and the rationale for government intervention 
   2. Public goods, externalities, and government solutions 
   3. Public Economic Policies and Their Market Impact 

"Microeconomics" by Robert S. Pindyck and Daniel L. Rubinfeld 

This book is a staple in the field of microeconomics, offering a thorough exploration of microeconomic principles with a balance of theoretical and practical applications. It is well-regarded for its clear explanations and robust modeling. 

"Intermediate Microeconomics: A Modern Approach" by Hal R. Varian 

Varian's book is considered a classic in the study of microeconomics and is used widely at the intermediate level. It is particularly strong in its theoretical rigor and clarity, making it a favorite among economics students. 

"Principles of Microeconomics" by N. Gregory Mankiw 

Mankiw's text is well-known for its clarity and engaging writing. It serves as an excellent introduction to the principles of economics and is used widely in introductory courses.