Faculty of Business and Economics

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Monash University Handbook 2011 Postgraduate - Unit

6 points, SCA Band 3, 0.125 EFTSL

Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.

FacultyFaculty of Business and Economics
OfferedClayton First semester 2011 (Day)
Coordinator(s)Professor Ranjan Ray


The unit concentrates on the revenue raising role of government and the relationship between public and private sectors from perspective of both public finance and political economy. Theories of public expenditure and revenue generation are applied to assess proper scope of the public sector and to design efficient, equitable and practical tax structures. Theories of public choice critically examine effectiveness and decision-making process of the public sector.


The learning goals associated with this unit are to:

  1. apply the basic economic concepts and principles to public finance issues
  2. critically analyse contemporary policy issues facing the Australian Treasury in the area of public expenditure and taxation from competing perspectives
  3. critically analyse the implications of fiscal policy for labour market and social security outcomes
  4. understand and demonstrate the usefulness and limitations of economic analysis in the public finance area
  5. identify both market failure and government failure, understand the causes and identify real life instances of each.


Within semester assessment: 40%
Examination (2 hours): 60%

Chief examiner(s)

Ranjan Ray

Contact hours

3 hours per week


Students must have passed ECX9000 before undertaking this unit