Background, General Knowledge, Scientific Area, Skill Development

Initially, a systematic presentation and analysis of the economic goals and objectives of the state is made. The reasons that the market mechanism is unable to achieve its goals are presented and the reasons that require the intervention of public bodies are explained. Particular emphasis is placed on the supply of society with public goods, the existence of externalities and the stabilization of the economy. Also, various issues related to public enterprises are presented.

We then describe and analyze the means that the state applies for the realization of its financial goals and objectives. The structure and classification of public expenditures and their evolution over time are studied. Subsequently, the characteristics and classification of taxes are analysed. The last section examines the issues of public borrowing and public debt.

Upon completion of the course, students should be able to:

(a) identify the failures of the free market system and define the role of the state

(b) understand the economic goals and objectives of the state

(c) analyze the means of state action for the achievement of its aims and objectives

(d) classify public expenditures

(e) recognize the characteristics of taxes and classify them into categories

(f) present the causes and categories of public borrowing and describe the problem of public debt in Greece.

ICT Use

Adaptation to new situations

Decision making

Autonomous work

Teamwork

Working in an international environment

Working in an interdisciplinary environment

Production of new research ideas

Equity and Inclusion

Respect for the natural environment

Sustainability

Demonstration of social, professional and moral responsibility and sensitivity to gender issues

Critical thinking

Promoting free, creative and inductive reasoning

ICT Use

Adaptation to new situations

Decision making

Working in an international environment

Working in an interdisciplinary environment

Critical thinking

Promoting free, creative and inductive reasoning

Ø  Historical background of the role of the state

Ø  Weaknesses and failures of the free market system

Ø  Economic functions of the state

·         Distributivefunction of the state

i) Public and semi-public goods

ii) Externalities (consumption, production, mixed)

iii) Monopoly derogations

iv) Public enterprises *

·   Stabilization function of the state

i) Problems of economic stability and economic growth

ii) Policies of economic stability and economic growth

·   Redistributive function of the state

i) Factors leading to income inequalities

ii) Redistribution policy

II. MEANS OF STATE ACTION

Ø  Introduction

Ø  Fiscalpolicyinstruments

•  PublicExpenditures

– Economic classification

– Functionalclassification

– Administrative classification

– Εvolution of public spending in Greece

• Taxes

– Tax classification

– Progressivity of the income tax in Greece

• Public Borrowing and Public Debt

– Differentiation between public borrowing and public debt

– Public bodies borrowing

– The debt crisis in Greece

2. Posting of teaching material, bibliography, slides, exercises, notes, outline and evaluation methods of the course on e-class.

3. Use of polls, brainstorming, mentimentor, breakout rooms or creation of working groups during lectures.

The ways and methods of teaching are described in detail.

Lectures, Seminars, Laboratory Exercise, Field Exercise, Bibliographicresearch& analysis, Tutoring, Internship (Placement), Clinical Exercise, Art Workshop, Interactive learning, Study visits, Study / creation, project, creation, project. Etc.

The supervised and unsupervised workload per activity is indicated here, so that total workload per semester complies to ECTS standards.

Description of the evaluation process

Assessment Language, Assessment Methods, Formative or Concluding, Multiple Choice Test, Short Answer Questions, Essay Development Questions, Problem Solving, Written Assignment, Essay / Report, Oral Exam, Presentation in audience, Laboratory Report,Clinical examination of a patient,Artistic interpretation, Other/Others

Please indicate all relevant information about the course assessment and how students are informed 

A written examination at the end of the semester (100%).

Includes Multiple Choice Test, Right-wrong Test, Short Answer Questions and Problem Solving.

Alternatively, students have the possibility to be examined in two written mid-semester tests that will take place in the months of March/April and May/June. Mid-semester tests are optional and replace the written exam at the end of the semester. Students must be graded at least five (5) in each test to avoid the final exam. The grade of the course will come from the average of the marks they will collect in the two tests. Students must declare their intention to participate in the March/April test one week before it takes place. Otherwise, they have no right to participate in it.

• Gruber, J. 2019. Public Economics and Policy. 2^nd Edition. Athens: da Vinci Publications.

• Pempetzoglou, M. 2022. Notes for the compulsory course “Public Economics”, 4^th semester of the undergraduate programme of the Department of Social Policy – DUTH.

• Lectures’ notes

• Lectures’ slides

Optional

• Stiglitz, J. and Rosengard, J. 2019. Public Economics, 2^nd edition. Athens: Kritiki Publications.

• Rosen, H. and Gayer, T. 2011. Public Finance. First Edition. Athens: Kritiki Publications.

• Georgakopoulos, Th. 2012. Introduction to Public Finance. 4^th Edition. Athens: Benou Publications.

• Hillman, A. 2013. Public Economics and Public Policy. Athens: Papazisis Publications.

• Karagiorgas, D., P. 1981. The Economic Functions of the State. Athens: PapazisisPublications.