Instructor:
John D. Wong

Prerequisites:
Economics 201Q:  Principles of Macroeconomics.
Economics 202Q:  Principles of Microeconomics.
Graduate Standing
Or, Instructor’s Consent

Course Objectives:

• Understanding of markets as a means of resource allocation
• Understanding of implications of market failure
• Understanding of relationship between public and private sectors
• Understanding the economics of the demand and supply of public goods and services
• Understanding the economics of taxation and other governmental revenue sources

Course Description:
An analysis of fiscal institutions and decision making in the public sector of the American economy, budget planning and execution, taxation, debt, and fiscal policy.

Major Topics Covered:
Government and the Economy
Private Markets
Elasticity
Costs and Supply of State and Local Goods and Services
Market Failure and the Role of Government
Public Choice Theory
Non-Tax Revenue Sources
Principles of Tax Analysis
Property Taxes
Sales and Excise Taxes
Income Taxes
Business Taxes

Typical Textbooks and Readings:
Ronald C. Fisher.  State and Local Public Finance, Third Edition.  Mason, OH: Thompson South-Western, 2007.

(Optional) Roger A. Arnold.  Microeconomics, Eighth Edition.  Mason, OH: Thompson South-Western, 2008.