Applied Economics

Knowledge

The candidate should:

• get an introduction to the main responsibilities of the public sector
• understand how taxes and government market intervention affects the distribution of resources in society
• know how the government can, and should, handle situations of market failure from a welfare economic perspective
• know how public decisions are made and what decisions the government should make from a welfare economic perspective

Skills

The candidate should:

• have the ability to apply economic theory to explain how the public sector can correct/solve problems in the markets
• be able to explain how externalities like environmental problems can be solved by use of financial instruments such as taxes, levies or quotas
• be able to explain why and how to conduct benefit-cost analyzes

General competence

The candidate should:

• be able to convey key subject matter as theories, issues and solutions both in writing, orally and through other relevant forms of expression
• be able to make appropriate decisions on the basis of a socio-economic point of view based on relevant theory
• exchange views and experiences with others with backgrounds in public finance and thereby contribute to the development of good practice