Fiscal Policy (ECON524) Course Detail

Course Name Course Code Season Lecture Hours Application Hours Lab Hours Credit ECTS
Fiscal Policy ECON524 3 0 0 3 5
Pre-requisite Course(s)
Course Language English
Course Type N/A
Course Level Social Sciences Master's Degree
Mode of Delivery Face To Face
Learning and Teaching Strategies Lecture, Discussion, Question and Answer.
Course Coordinator
Course Lecturer(s)
  • Prof. Dr. Sinan Sönmez
Course Assistants
Course Objectives 1-To explain the main themes in public finance which implies mainly the study of the budgetary sector of public policy. 2-To explain the major functions of public activities, budgeting, public/social goods and their efficient provision (models), international aspects of public good provision, public decision taking procedures (government behaviour), public expenditure, public revenue and taxation, economics of the public debt, and impact of the neo-liberal globalization on public sector activities, and public finance
Course Learning Outcomes The students who succeeded in this course;
  • To understand the basic themes in public finance.
  • To use the required analytical tools to evaluate and comment the public finance and the economy as a whole.
  • To establish the linkage between political decision taking and public finance.
  • To continue to further studies in this field
Course Content Definition of fiscal policy, its aims, bound, and tools; evaluating efficiency of fiscal policy according to different perspectives; measuring the effects of fiscal policy; method to apply fiscal policy; inflation, stagflation and dealing with such issues, budget deficit and financing budget deficit.

Weekly Subjects and Releated Preparation Studies

Week Subjects Preparation
1 The Public Sector in the Economy Stiglitz, ss.3-25
2 Market Efficiency and Market Failure Stiglitz, ss. 56-92
3 Efficiency and Equity Stiglitz, ss. 93-124
4 Public Goods and Publicly Provided Private Goods Stiglitz, ss. 127-155
5 Social Goods Considered Further: Efficient Provision of Social Goods Musgrave and Musgrave, ss. 59-72
6 Externalities and Environment Stiglitz, ss. 214-234
7 Mid-term Exam
8 Public Choice Stiglitz, ss. 156-185
9 Public Production and Bureaucracy Stiglitz, ss. 189-213
10 Introduction to Taxation Stiglitz,ss. 451-481
11 Tax Incidence Stiglitz, ss.482-510
12 Taxation and Economic Efficiency Stiglitz, ss. 518-549
13 Deficit Finance and Sustainability of Public Finance Stiglitz, ss. 772-793
14 Turkish Budgeting System Documents on Turkish budgeting system
15 General Review
16 Final Exam


Course Book 1. Stiglitz, Joseph E. (2000), Economics of the Public Sector, Third Edition,New York: W.W. Norton & Company, Inc.
Other Sources 2. Rosen, Harvey S. (2005),Public Finance, Seventh Edition, New York: McGraw-Hill/Irwin
3. Musgrave, R. A. and Musgrave P.B (1989), Public Finance in Theory and Practice, McGraw_Hill, 5th edition, New York.

Evaluation System

Requirements Number Percentage of Grade
Attendance/Participation - -
Laboratory - -
Application - -
Field Work - -
Special Course Internship - -
Quizzes/Studio Critics 1 5
Homework Assignments 1 5
Presentation - -
Project - -
Report - -
Seminar - -
Midterms Exams/Midterms Jury 1 40
Final Exam/Final Jury 1 50
Toplam 4 100
Percentage of Semester Work 50
Percentage of Final Work 50
Total 100

Course Category

Core Courses
Major Area Courses X
Supportive Courses
Media and Managment Skills Courses
Transferable Skill Courses

The Relation Between Course Learning Competencies and Program Qualifications

# Program Qualifications / Competencies Level of Contribution
1 2 3 4 5
1 To compare main microeconomic theories, approaches and make a critical evaluation of each
2 To compare main macroeconomic theories, approaches and make a critical evaluation of each
3 To apply mathematical modeling
4 To employ statistical and econometric tools in analyzing an economic phenomena
5 To analyze the main economic indicators and comment on them
6 To acquire theoretical knowledge through literature survey and derive empirically confirmable hypothesis
7 To make a research design and carry it out within predetermined time frames
8 To be able to develop new approaches for complex problems in applied economics and/or apply statistical/econometric tools to new areas/problems
9 To formulate and present policy recommendations based on academic research
10 To combine economic knowledge with other disciplines in order to solve problems requiring scientific expertise
11 To use information technology effectively
12 To continue learning and undertake advanced research independently

ECTS/Workload Table

Activities Number Duration (Hours) Total Workload
Course Hours (Including Exam Week: 16 x Total Hours) 16 3 48
Special Course Internship
Field Work
Study Hours Out of Class 16 4 64
Presentation/Seminar Prepration
Homework Assignments
Quizzes/Studio Critics
Prepration of Midterm Exams/Midterm Jury 1 2 2
Prepration of Final Exams/Final Jury 1 3 3
Total Workload 117