Public System Area
Externalities, imperfect competition, and public goods supply may lead to market failures in the economy. Market mechanisms do not result in fair income distribution generally. In the Public System area, students will discuss the role of the public sector in correcting these market failures and income inequality from socio-economic perspectives, and comprehensively learn through multiple lectures and seminars. It is particularly recommended that students in this area take [Macroeconomics] and [Public Economics] as core courses.
| Course name | Course description | Target year |
|---|---|---|
| Macroeconomics | In this course, students will observe how the gross domestic product, interest rate, and growth rate are determined in the economy of a country. They will also discuss how fiscal and monetary policies implemented by the government and central banks influence economic activities. | 2 – 4 |
| Public Economics | In this course, students will learn the role of the government in the market economy, as well as the micro- and welfare economic basics of public economic policy. | 2 – 4 |
| Economic Dynamics | This course will discuss how the economy works. Students will mainly learn about market stability, economic growth theory, and dynamics of information in games. | 2 – 4 |
| International Finance | In this course, students will first learn national economic calculation and balance of payments accounting as basic knowledge indispensable for understanding international finance, and then about the relationship between foreign exchange and financial markets, which is key to analysis. They will also deepen their understanding of the determinants of short/long-term exchange rates and the mechanism of interaction between international finance and fiscal/monetary policy. | 2 – 4 |
| Public Finance | This course will give lectures on the basic themes of “finance”, such as fiscal systems, government expenditure, taxation, budget deficit and government debt, social security, and fiscal policy, from both theoretical and institutional perspectives. | 2 – 4 |
| Seminar in SEP: Public System Area | In this course, students will learn methods often used for empirical research in the field of public economics. They will analyze socio-economic phenomena using actual data and computers. | 2 – 4 |