KUK - LMS

Syllabus

MODULE NO / UNIT	COURSE SYLLABUS CONTENTS OF MODULE	NOTES
Course Code: M-BECOC -009 Course Name: Public Economics-II
1	Public Choice Rational Voter Hypothesis; Characteristics of Majority Voting Rule; Buchanan and Tullock Model, Bowen-Black Model; Arrow’s Impossibility Theorem; Downs Model on Demand and Supply of Government Policy; Models of Bureaucratic Behaviour: Niskanen, Tullock; Voting and the Leviathan Hypothesis. Reading List • Arrow, K. (1951).Social Choice and Individual Values. Yale University Press. • Boadway, Robin (1984). Public Sector Economics. Cambridge, Winthrop Publications. • Cullis, John & Jones, Philip (2009). John Public Finance and Public Choice: Analytical Perspectives. Oxford University Press. • Hackelman, J.C. (2004). Readings in Public Choice Economics. University of Michigan Press. • Lee, D., Moretti, E. & Butler, M. (2004). Do Voters Affect or Elect Policies? Evidence from the U.S. House. Quarterly Journal of Economics, 119(3), 807-859. • Piketty, T. (1999). The Information-Aggregation Approach to Political Institutions. European Economic Review, 43, 791-800.
2	International Issues in Public Economics International aspects of taxation; Global Public Goods; Trade Taxes and Public Choice. Public Enterprises Pricing Policies in Public Enterprises- Ramsey-Boiteux Linear pricing, Marginal cost pricing, peak load pricing; Theory of Second Best; Social Cost Benefit Analysis. Reading List • Boadway, Robin (1984). Public Sector Economics. Cambridge, Winthrop Publications. • Gordon, R. & Hines, J. (2002). International Taxation. In Auerbach, A. and Feldstein, M. (Eds.), Handbook of Public Economics (vol. 4). Elsevier. • Ihori, Toshihiro (2016). Principles of Public Finance. Springer. • Jha, Raghbendra (1998). Modern Public Economics. Routledge. • Lipsey, R.G. & Lancaster, K. (1956). The general theory of second best.Review of Economic Studies, 24, 11-32. • Piketty, T. (2014).Capital in the Twenty-First Century. Harvard University Press. • Zucman, G. (2014). Taxing across Borders: Tracking Personal Wealth and Corporate Profits. Journal of Economic Perspectives, 28(4), 121-148.
3	Issues in Public Debt Burden Controversy of Public Debt – Classical Theory, Modern Theory, Buchanan Thesis, Secondary Burden of Public Debt; Public Debt and Inflation; Public Debt Management and Redemption of Public Debt; Public debt and economic growth; Sustainability of public debt. Reading List • Bagchi, Amaresh (Ed.). (2005). Readings in Public Finance. Oxford University Press. • Ganguly, S. (1963). Public Finance: A Normative Approach. Nababharat Publishers. • Greiner, A. & Fincke, B. (2009). Public Debt and Economic Growth. Springer. • Ihori, Toshihiro (2016). Principles of Public Finance. Springer.
4	Theory of Fiscal Federalism The Decentralisation theorem; Optimum Size of Local Community; Assignment issues in multi-level Government; Tiebout Model; Theory of Intergovernmental Grants; Redistributive Impact of the Budget; Budget deficits- Sustainability, solvency and optimality; Centre-State fiscal relations in India - Theory and practice. Reading List • Bagchi, Amaresh (Ed.). (2005). Readings in Public Finance. Oxford University Press. • Boadway, Robin (1984). Public Sector Economics. Cambridge, Winthrop Publications. • Oates, W. E. (1999). An Essay on Fiscal Federalism. Journal of Economic Literature, 37(3), 1120-1149. • Roemer, J. (1998).Theories of Distributive Justice. Harvard University Press. • Tiebout, C.M. (1956). A Pure Theory of Local Expenditures. Journal of Public Economics, 64, 416-424.