This is a foundational Ph.D.-level course in public finance. It covers a collection of topics that are considered to be among the key sub-areas of public finance. The course deals with a large number of concepts, models, and techniques that are widely used in research on and applications of public finance. A command of the positive analysis of the incidence of taxes, subsidies, and other types of government policies is fundamental to the study of most problems of taxation and public finance.
Positive analysis is emphasized throughout the course.
Economy-wide incidence of taxes. Taxation and financial issues. Taxation and risk-taking. Relationships between taxes and choices of investment portfolios. Effects of taxes on financial markets.