The main objective of this course is to present a comprehensive analysis of the role of the public sector in mixed economies, in both its micro and macroeconomics dimensions. Under this assumption, a broad and plural approach is followed to the different notions to what role should the public sector play.
In this sense, the student should pursue a critical approach to its own thoughts and views about state intervention in mixed economies. Hence, throughout this course students will be asked to knowledgeably think, in a well-documented fashion, about the major problems facing public economics and finances.
One of the main objectives of this course is to focus on the microeconomic fundamentals about state intervention. For this reason, some consideration will be given to the financial and institutional framework related to the Portuguese Public Administrations, namely:
.: The Portuguese fiscal system;
.: The public budgeting cycle: The processes of proposing, amending, approving, executing and controlling the State Budget.
Another main objective is to address the macroeconomic background in the political decision-making process, specifically regarding national budgeting and budgetary policies and restrictions framed by the European Union economic and monetary constraints.
Chapter 1 | Public finances and the role of the state
.: 1.1. The public sector in a mixed economy
.: 1.2. Public finances and theories about the role of the government
Chapter 2 | Public expenditure theory and practice
.: 2.1. Normative theories about the role of the public sector
.: 2.2. Expenditure and efficiency: public goods and externalities
.: 2.3. Expenditure and equity: income redistribution and equality of opportunities
Chapter 3 | Public revenues theory and practice
.: 3.1. Main sources of public financing
.: 3.2. Tax revenues and efficiency
.: 3.3. Tax revenues and equity
.: 3.4. The Portuguese tax system
Chapter 4 | The public sector in Portugal: scope, structure, accounts and Budget
.: 4.1. The structure and nature of Public Administrations
.: 4.2. The accounts and balances of Public Administrations
Chapter 5 | The State Budget
.: 5.1. The notion, content and structure of the Budget.
.: 5.2. The Budget Cycle
.: 5.3. Budget rules and classifications (economic, organic, functional, programs)
Chapter 6 | Fiscal policy
.: 6.1. Objectives, instruments, and indicators
.: 6.2. Fiscal policy
.: 6.3. Budget constraint, public debt and sustainability
.: 6.4. The overall framework of fiscal policy in EMU
.: Tutorial 1
.: Tutorial 2
.: Tutorial 3
.: Tutorial 4
.: Tutorial 5
.: Tutorial 6
.: Tutorial 7
.: Tutorial 8
.: Tutorial 9
.: Tutorial 10
.: Tutorial 11
.: STIGLITZ, Joseph, 2000; «Economics of the Public Sector»; 3rd Edition, W.W. Norton & Company, ISBN: 9780393966510
.: ROSEN, Harvey, 2008; «Public Finance»; 5th Edition, McGraw-Hill, USA.
.: MUSGRAVE, Richard, MUSGRAVE, Peggy, 1989; «Public Finance in Theory and Practice»; 6th Edition, originally published in 1959; McGraw-Hill, USA.
.: CULLIS, John, JONES, Philip, 1998; «Public Finance and Public Choice»; 2nd Edition, 1st Edition in 1992, Oxford University Press, UK.