ECON6010: Intensive October, 2020

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Units ECON6010 Intensive October 2020 [Block mode]

Unit outline_

ECON6010: Public Economics

Intensive October, 2020 [Block mode] - Camperdown/Darlington, Sydney

Overview

Recent innovations in public economics have overturned previously accepted policy rules. This unit focuses on the modern treatment of public policies relating to taxation, pricing of public sector outputs and public investment. Emphasis is placed on how different informational capabilities and jurisdictions of the government impact on the design of policy. The areas of application in taxation include the design of efficient and equitable consumption taxes, the structure of income taxation and the appropriate mix of income and consumption taxes. In response to market failures, pricing and investment rules for public enterprises, the provision and pricing of public goods, and policy responses to externalities and information problems are covered.

Unit details and rules

Academic unit	Economics
Credit points	6
Prerequisites ?	(ECON6001 or ECON6701) and (ECON6002 or ECON6702)
Corequisites ?	None
Prohibitions ?	None
Assumed knowledge ?	None
Available to study abroad and exchange students	Yes

Teaching staff

Coordinator	Steven Hamilton, steven.hamilton@sydney.edu.au

Type	Description	Weight	Due	Length
Final exam (Open book)	Final exam Final exam	50%	Formal exam period	2 hours
Outcomes assessed:
Online task	Problem set 1 Problem set questions	6%	Week 04 Due date: 16 Oct 2020 at 23:59	500 word equiv
Outcomes assessed:
Online task	Problem Set 2 Problem set questions	7%	Week 06 Due date: 30 Oct 2020 at 23:59	500 word equiv
Outcomes assessed:
Assignment	Mid-semester take home Mid-semester take home assessment	30%	Week 06 Due date: 28 Oct 2020 at 21:00 Closing date: 29 Oct 2020	24 hours
Outcomes assessed:
Online task	Problem Set 3 Problem set questons	7%	Week 08 Due date: 13 Nov 2020 at 23:59	500 word equiv
Outcomes assessed:
= Type C final exam ?

Assessment summary

Please refer to Canvas for more details.

Assessment criteria

The University awards common result grades, set out in the Coursework Policy 2014 (Schedule 1).

As a general guide, a High distinction indicates work of an exceptional standard, a Distinction a very high standard, a credit a good standard, and a pass an acceptable standard.

Result name	Mark range	Description
High distinction	85 - 100
Distinction	75 - 84
Credit	65 - 74
Pass	50 - 64
Fail	0 - 49	When you don’t meet the learning outcomes of the unit to a satisfactory standard.

For more information see guide to grades.

Late submission

In accordance with University policy, these penalties apply when written work is submitted after 11:59pm on the due date:

Deduction of 5% of the maximum mark for each calendar day after the due date.
After ten calendar days late, a mark of zero will be awarded.

Academic integrity

The Current Student website provides information on academic integrity and the resources available to all students. The University expects students and staff to act ethically and honestly and will treat all allegations of academic integrity breaches seriously.

We use similarity detection software to detect potential instances of plagiarism or other forms of academic integrity breach. If such matches indicate evidence of plagiarism or other forms of academic integrity breaches, your teacher is required to report your work for further investigation.

Use of generative artificial intelligence (AI) and automated writing tools

You may only use generative AI and automated writing tools in assessment tasks if you are permitted to by your unit coordinator. If you do use these tools, you must acknowledge this in your work, either in a footnote or an acknowledgement section. The assessment instructions or unit outline will give guidance of the types of tools that are permitted and how the tools should be used.

Your final submitted work must be your own, original work. You must acknowledge any use of generative AI tools that have been used in the assessment, and any material that forms part of your submission must be appropriately referenced. For guidance on how to acknowledge the use of AI, please refer to the AI in Education Canvas site.

The unapproved use of these tools or unacknowledged use will be considered a breach of the Academic Integrity Policy and penalties may apply.

Studiosity is permitted unless otherwise indicated by the unit coordinator. The use of this service must be acknowledged in your submission as detailed on the Learning Hub’s Canvas page.

Outside assessment tasks, generative AI tools may be used to support your learning. The AI in Education Canvas site contains a number of productive ways that students are using AI to improve their learning.

Learning support

Simple extensions

If you encounter a problem submitting your work on time, you may be able to apply for an extension of five calendar days through a simple extension.  The application process will be different depending on the type of assessment and extensions cannot be granted for some assessment types like exams.

Special consideration

If exceptional circumstances mean you can’t complete an assessment, you need consideration for a longer period of time, or if you have essential commitments which impact your performance in an assessment, you may be eligible for special consideration or special arrangements.

Special consideration applications will not be affected by a simple extension application.

Using AI responsibly

Co-created with students, AI in Education includes lots of helpful examples of how students use generative AI tools to support their learning. It explains how generative AI works, the different tools available and how to use them responsibly and productively.

Weekly schedule

WK	Topic	Learning activity
Week 03	Welcome, introduction, review of basic concepts, basic tax theory and tax incidence.	Lecture (2 hr)
Week 04	Optimal taxation and the taxation of labor supply.	Lecture and tutorial (6 hr)
Week 05	Tax avoidance and evasion, and the elasticity of taxable income.	Lecture and tutorial (6 hr)
Week 06	Taxes on externalities, and the fiscal response to COVID-19.	Lecture and tutorial (6 hr)
Week 07	Taxes on savings, risk taking and wealth, and income and wealth inequality.	Lecture and tutorial (6 hr)
Week 08	Corporate and international taxation, and fundamental tax reform.	Lecture and tutorial (6 hr)

Attendance and class requirements

Attendance: According to Faculty Board Resolutions, students in the Faculty of Arts and Social Sciences are expected to attend 90% of their classes. If you attend less than 50% of classes, regardless of the reasons, you may be referred to the Examiner’s Board. The Examiner’s Board will decide whether you should pass or fail the unit of study if your attendance falls below this threshold.
Lecture recording: Most lectures (in recording-equipped venues) will be recorded and may be made available to students on the LMS. However, you should not rely on lecture recording to substitute your classroom learning experience.
Preparation: Students should commit to spend approximately three hours’ preparation time (reading, studying, homework, essays, etc.) for every hour of scheduled instruction.

Study commitment

Typically, there is a minimum expectation of 1.5-2 hours of student effort per week per credit point for units of study offered over a full semester. For a 6 credit point unit, this equates to roughly 120-150 hours of student effort in total.

Required readings

All other readings for this unit can be accessed on the Library eReserve link available on Canvas.

1. Welcome, introduction, review of basic concepts, basic tax theory and tax incidence.

Gruber, 18 (1, 3) and 19 (2, 3, 4)
Slemrod, J. 2008. “Does it matter who writes the check to the government? The economics of tax remittance”, National Tax Journal, 61(2): 251-275.

2. Optimal taxation and the taxation of labor supply.

Gruber, 20 (1, 2, 7, 10) and 21 (1, 2, 4, 7)
Mankiw, N. Gregory, Matthew Weinzierl, and Dany Yagan. 2009. “Optimal Taxation in Theory and Practice.” Journal of Economic Perspectives, 23(4): 147-74.

3. Tax avoidance and evasion, and the elasticity of taxable income.

Slemrod, Joel. 2007. “Cheating ourselves: The economics of tax evasion.” Journal of Economic Perspectives, 21(1): 25-48.

4. Taxes on externalities, and the fiscal response to COVID-19.

Gruber, 5 (1, 5, 7, 9, 11, 12, 18)
“The world urgently needs to expand its use of carbon prices”, The Economist, May 23, 2020.
‘How the recession we have to have can be sharp but short’, The Australian Financial Review, 25 March 2020
'Small businesses can drive the economic recovery — with our help', The Washington Post, 17 September 2020

5. Taxes on savings, risk taking and wealth, and income and wealth inequality.

Gruber, 22 (1, 2, 15) and 23 (1, 2, 3)
Piketty, Thomas and Emmanuel Saez. 2007. “How Progressive is the U.S. Federal Tax System? A Historical and International Perspective.” Journal of Economic Perspectives, 21(1): 3-24.

6. Corporate and international taxation, and fundamental tax reform.

Gruber, 24 (7, 8, 10, 11, 17) and 25
Auerbach, A. “Demystifying the Destination-Based Cash-Flow Tax.” Brookings Papers on Economic Activity, September 2017.
‘Company tax reform could be ScoMo’s GST’, The Australian Financial Review, 27 May 2019, p. 38

Learning outcomes

Learning outcomes are what students know, understand and are able to do on completion of a unit of study. They are aligned with the University's graduate qualities and are assessed as part of the curriculum.

Outcomes
Graduate qualities

At the completion of this unit, you should be able to:

LO1. apply economic concepts to examine real world problems from the perspective of a policymaker and an individual
LO2. demonstrate problem solving skills
LO3. critically evaluate the assumptions and limitations of the theories and arguments presented in class
LO4. employ technologies effectively in gathering information from written, oral, and electronic sources
LO5. manage, analyse, evaluate and use information efficiently and effectively
LO6. develop a coherent argument and justify the conclusions reached by reference to research.

Graduate qualities

The graduate qualities are the qualities and skills that all University of Sydney graduates must demonstrate on successful completion of an award course. As a future Sydney graduate, the set of qualities have been designed to equip you for the contemporary world.

GQ1	Depth of disciplinary expertise Deep disciplinary expertise is the ability to integrate and rigorously apply knowledge, understanding and skills of a recognised discipline defined by scholarly activity, as well as familiarity with evolving practice of the discipline.
GQ2	Critical thinking and problem solving Critical thinking and problem solving are the questioning of ideas, evidence and assumptions in order to propose and evaluate hypotheses or alternative arguments before formulating a conclusion or a solution to an identified problem.
GQ3	Oral and written communication Effective communication, in both oral and written form, is the clear exchange of meaning in a manner that is appropriate to audience and context.
GQ4	Information and digital literacy Information and digital literacy is the ability to locate, interpret, evaluate, manage, adapt, integrate, create and convey information using appropriate resources, tools and strategies.
GQ5	Inventiveness Generating novel ideas and solutions.
GQ6	Cultural competence Cultural Competence is the ability to actively, ethically, respectfully, and successfully engage across and between cultures. In the Australian context, this includes and celebrates Aboriginal and Torres Strait Islander cultures, knowledge systems, and a mature understanding of contemporary issues.
GQ7	Interdisciplinary effectiveness Interdisciplinary effectiveness is the integration and synthesis of multiple viewpoints and practices, working effectively across disciplinary boundaries.
GQ8	Integrated professional, ethical, and personal identity An integrated professional, ethical and personal identity is understanding the interaction between one’s personal and professional selves in an ethical context.
GQ9	Influence Engaging others in a process, idea or vision.

Outcome map

Learning outcomes	Graduate qualities
Learning outcomes

Responding to student feedback

This section outlines changes made to this unit following staff and student reviews.

Unit moved to intensive semester and delivery changed accordingly

Additional information

Please note, start date of this unit is week 3 in Intensive October session

The Unit Coordinator is Dr. Steven Hamilton

Disclaimer

The University reserves the right to amend units of study or no longer offer certain units, including where there are low enrolment numbers.

To help you understand common terms that we use at the University, we offer an online glossary.

Current students

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Assessment summary

Assessment criteria

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Weekly schedule

Weekly schedule

Attendance and class requirements

Study commitment

Required readings

Learning outcomes

Learning outcomes

Graduate qualities

Outcome map

Responding to student feedback

Responding to student feedback

Additional information

Additional information

Disclaimer

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