The course's aim is for students to learn the fundamentals of public finance, rooted in allocation theory and to understand the role of the state within market dynamics. They will be able to apply concepts relevant to welfare theory as well as theoretical instruments for interpretation. With the acquired knowledge participants will be able to judge abstract concepts pertaining to allocation.

Contents include:

• Normative justification for governmental interventions into the appliance of resources.
• Theory of market-failure
• Positive analysis of public waste of resources
• Some basics in collective decision theory

Offered every winter semester

Syllabus