Public Policy in a Small Open Economy (BS0089)

? Credit Points : 10 ? SCQF Level : 11 ? Acronym : SBE-P-BS0089

The course explores the policy levers available in an SOE, the constraints on using those levers and the extent to which such policies can be justified by various forms of market failure. The theory of public goods is useful here in thinking through whether an activity belongs in the public or the private sector ? and in making the distinction between public funding of a service and public provision of the service. The course examines how various powers are currently being used, how they have been used in the past, what impact they seem to have had ? and why ? and the lessons for policy design.

Entry Requirements

? This course is not available to visting students.

? Pre-requisites : PGs Only

Subject Areas

Home subject area

Business Studies, (School of Business and Economics, Schedule H)

Delivery Information

? Normal year taken : Postgraduate

? Delivery Period : Semester 2 (Blocks 3-4)

? Contact Teaching Time : 2 hour(s) 30 minutes per week for 9 weeks

Summary of Intended Learning Outcomes

At the end of the course students should:
- understand how and why economies grow
- understand globalisation.
- understand the key features of Small Open Economies
- be aware of the potential role of public policy in improving the performance of an SOE.
- understand the bases on which public policy can be justified.
- be aware of the evidence base on the impact of various policies.
- understand the constraints on policy makers in an SOE (and be realistic about the difference a devolved parliament might make to economic performance).
- be able to digest critically media and political comment about trends in the Scottish economy.