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Valstybės finansai (FIN104)

Course description

This course is a one-semester introduction to Public finance. Public finance is the branch of economics that focuses on the role of government in the economy. In this course we will study the role and the size of public sector, including the rationale for public sector existence (public goods, market failures) and government interventions (taxation policy, income redistribution).

Students will become acquainted with the theoretical foundations of how the government affects the economy, in addition to being exposed to a variety of empirical research. Students will gain experience in critical thinking and will learn about the theoretic basis of the economic arguments used by politicians.

Aims of the course

This course aims to introduce to students the main concepts of Public finance: the role of the state in the economy, public goods and market failures, policy of taxation and income redistribution. Attention is also given to fiscal policy issues.

Learning outcomes

  • Analyze the concepts of public goods and market failures and their cures
  • Apply various socio-economic models to the evaluation of the public policy questions
  • Discuss the reasons for government intervention in the economy as well as different types of regulation
  • Evaluate and compare different policies of taxation and income redistribution
  • Analyze the issues in managing the  fiscal policy
  • Learn the mechanics of sovereign and municipal bond markets.
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