Selected Topics in the Public Sector Economics

Course: Selected Topics in the Public Sector Economics

Code: 3ФЕИТ11004

ECTS points: 6 ECTS

Number of classes per week: 3+0+0+3

Lecturer: Prof. Dr. Vladimir Filipovski, Prof. Dr.Taki Fiti

Course Goals (acquired competencies): Understanding the essential features and the functioning of the public sector; understanding the key domains of market failures, and consequently the need for government regulation of market failures. A special emphasis is put on the regulation of natural monopolies and other types (commercial) monopolies.

Course Syllabus:

1. Fundamentals of market economy - demand, supply and price

2. Fundamentals of theory of production and costs

3. Market structures - perfect and imperfect competition

4. Market failures

5. Natural monopoly - the essence of the concept and its economic consequences

6. Regulation of natural monopolies

7. Taming the monopoly power - combination of government regulation and market forces

8. Regulation of other types of market failures - public goods, externalities and etc.

Literature: