Public Finance Syllabus for Fall 2015
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1 Public Finance Syllabus for Fall 2015 Econ (Rev. 1) MWF 9:00 to 9:50 AM Dane Smith Hall 128 INSTRUCTOR: Dr. Dave Dixon Econ Bldg. #2026 (505) Office hours 11:00 AM to Noon Tue, Thu 2:30 PM to 3:00 PM Mon, Wed 4:30 PM to 5:15 PM Mon, Wed Office hours at CAPS 10:00 AM to 11:00 AM Mon, Wed, Fri TEXTBOOK: We will not be using a textbook for this course. Reading will be assigned each week, most of it coming from online sources. Check the assignments in Learn. ALSO REQUIRED: COURSE OVERVIEW iclicker (any version) available from the bookstore, or iclicker REEF smartphone app (see caution in the iclicker section below). The three major components of the macroeconomy are consumers, producers, and government. Most of any intermediate microeconomics course is about consumers: utility theory, duality, consumer welfare, uncertainty, information, and so on. Most of the applied microeconomics of producers is wrapped into industrial organization. Public finance is the applied microeconomics of government income and expenditures. The principle source of government income is taxes, and taxation is a complex topic. In most economies, the government is the biggest single consumer of goods and services, so government expenditures are also very complex. Matching taxes with expenditures adds even more complexity, as governments struggle to meet the economic, political, and social goals of their constituents in the face of the conflicting preferences of individuals. These are some of the topics of public finance. COURSE FORMAT Web Enhanced Lecture: This means regular class meetings (lectures) plus Learn for homework, communication and administration. Administration includes announcements, assignment due dates, special readings and online discussions. Administration also includes course progress and grades. You will need your UNM NetID (login) to use Learn. Using Learn Go to After you login, your My Courses list should include ECON (Fall 2015). To find out more about Learn, click the Support link in the upper right corner of your Learn page.
2 Schedule The official course schedule is posted in Learn and is subject to change. Check it often. There is an APPROXIMATE SCHEDULE listed elsewhere in this syllabus: this version is for early planning purposes only. Reading If the schedule shows reading due for a class meeting, that reading must be completed before arriving for that class. Students will be required to take an iclicker quiz in class on the reading material due that day. Taking the quiz will count toward class participation, with the actual quiz grade averaged into your overall grade for quizzes. The reading for this course is a bit experimental. While it seemed like a good idea to skip the $300 textbook, finding suitable freely-available material is challenging. We will start with a small book called "Mayordomo : chronicle of an acequia in northern New Mexico" by Stanley G. Crawford. This is an ebook available via a link on Learn. While recounting a unique and fading aspect of New Mexico history, this book will give us opportunities to bring the issues of public finance down from the national level to a very small, very personal scale. In the syllabus these readings begin with the letter "M". The letter "P" indicates the preface. Homework If the schedule shows a homework assignment due on a date, the homework is due before class that day. Homework is late the second that class starts - it never makes sense to miss class to complete the homework. Homework turned in late will have the credit reduced by five percent for each day late (which compounds quickly - see Homework assignments consist of three parts: answering the prompt in your Personal Journal, posting the answers to problems in your Homework Journal, and bringing a paper copy of problem answers to class for self-correction. Participation Students are expected to participate in discussions, in-class problem solving and exercises, and online forums. Credit for this course includes a participation component (see COURSE REQUIRE- MENTS below), which can be either positive or negative. For example, frequent absence reduces the opportunities for participation and may result in negative participation credit. Similarly, disrespectful conduct, either in the classroom or online, will not be tolerated and will result in negative participation credit. Exams In level courses, exam questions will be nearly identical to homework problems. In 300- level courses, exam problems will be similar to homework with some expectation that the student will be able to adapt to changes in numerical values or answer components (e.g. homework asked for equilibrium quantity, exam asks for equilibrium price). In 400-level courses, exam problems will address the same topics as homework, with the expectation that students are able to extrapolate Page 2 of 7
3 from familiar applications to similar but unfamiliar applications. I will typically warn you if something in class is likely to appear on an exam, but it is possible that something from the reading will appear on an exam that hasn t been discussed in class. iclicker Students are required to have an iclicker (any version), or the iclicker REEF smartphone app. The iclickers will be used to take surveys in class. iclicker use will be required for class participation. The physical iclicker is available from the bookstore. Registering your iclicker: You won t get any credit for your clicks unless you register your iclicker. There is now a link in Learn for registering your iclicker or iclicker REEF app. iclicker REEF is the new app replacing iclicker GO. iclicker GO is no longer available. If you paid for iclicker GO and it hadn t expired yet, your account was switched to iclicker REEF. iclicker REEF is supposed to be more reliable because it uses your phone data service if Wi-Fi is unavailable. Caution: The iclicker REEF app tries to use Lobo Wi-Fi to communicate with a distant server via the UNM network and the Internet. Meanwhile, the iclicker base contacts that server via the classroom computer, the UNM network, and the Internet. That is, the iclicker REEF app is affected by Wi-Fi availability, global network traffic, national weather patterns, and astrological convergences. The iclicker REEF app addresses only one link in this precarious chain: Lobo Wi- Fi. Experience with Wi-Fi devices in the Economics building has shown that Lobo Wi-Fi will hang rather than become unavailable. In this case, your device may not know to switch over to 4GL unless you switch off Wi-Fi. That still leaves the rest of the Interwebs to mess you up. In the past, many students have used the app without difficulty, but a few have been tormented by it. Use the app at your own risk - no accommodations for app-related problems can be made. JITT JITT (just-in-time teaching) is way for students to have some control over the curriculum. When you do the required reading, most of what you read will be clear to you, but a few things would be clearer with some discussion. To ensure that students take responsibility for this control, you will be required to make a post to the JITT discussion board in Learn at least once each week. JITT posts can include questions or comments about the homework or an exam question, or to make constructive comments in reply to a post by another student. ONLINE CONTENT This course will include online content posted on Learn. Please do not leave online work to the last minute assignments missed due to technical difficulties will receive the highest level of sympathy, but no grade allowances. Page 3 of 7
4 COURSE REQUIREMENTS EXAMS HOMEWORK QUIZZES PARTICIPATION 4 progressive exams (not cumulative, but subsequent exams may build on the material from earlier ones.) Exam 4 is during finals week. 8 homework assignments consisting of posts to the Homework Journal and to the Personal Journal. Late assignments will have 5% credit reduced for each day late There will be regular iclicker quizzes on the required reading. All students are expected to participate in solving problems in class, general discussions, and in-class exercises. This includes participating in online discussions. % of total grade (both journals weighted equally) GRADING POLICY Your total grade will be a weighted percentage (weighted as shown in the table above) and your final grade will be determined from the weighted total as shown below. > 95% A % A 90-92% A % B % B 80-82% B- A weighted average below 60% is a failing grade % C % C 70-72% C % D % D 60-62% D- ACCOMMODATION STATEMENT Accessibility Services (Mesa Vista Hall 2021, ) provides academic support to students who have disabilities. If you think you need alternative accessible formats for undertaking and completing coursework, you should contact this service right away to assure your needs are met in a timely manner. If you need local assistance in contacting Accessibility Services, see the Bachelor and Graduate Programs office. LIBRARY AND TUTORIAL SERVICES UNM-Main campus provides many library services and some tutorial services for distance students. For library services, go to to link to a specific library or to contact a librarian. For tutorial services, go to to explore UNM s online services. Page 4 of 7
5 ACADEMIC INTEGRITY/HONESTY The University of New Mexico believes that academic honesty is a foundation principle for personal and academic development. All University policies regarding academic honesty apply to this course. Academic dishonesty includes, but is not limited to, cheating or copying, plagiarism (claiming credit for the words or works of another from any type of source such as print, Internet or electronic database, or failing to cite the source), fabricating information or citations, facilitating acts of academic dishonesty by others, having unauthorized possession of examinations, submitting work of another person or work previously used without informing the instructor, or tampering with the academic work of other students. The University s full statement on academic honesty and the consequences for failure to comply is available in the college catalog and in the Pathfinder. In this course you will be held to the UNM standard and more. Do not do anything that would constitute academic misconduct. There will be zero tolerance of academic misconduct, and violations will be reported to University authorities. Penalties for academic misconduct include withdrawal from the course with a failing grade in addition to any penalties imposed by the University. ELECTRONIC DEVICES IN CLASS Laptops, tablets, smartphones, MP3 players, etc. must be used with consideration. In particular, students using laptops are encouraged to sit at the back of the lecture hall so they do not distract other students. Any student whose electronic device appears to be distracting other students will be asked to terminate use. IMPORTANT DATES August 28, Friday Last day to add or change sections or grade mode September 07, Monday Labor Day (no class) September 12, Friday Exam 1 October 08, Wednesday Exam 2 October 09, Friday Fall Break (no class) November 04, Wednesday Exam 3 November 06, Friday Last day to drop without Dean s permission November 27, Friday Thanksgiving (no class) December 04, Friday Last day to drop with Dean s permission December 09, Wednesday Exam 4-7:30 to 9:30 AM APPROXIMATE SCHEDULE The following schedule is for planning purposes only. The Calendar in Learn is the official schedule for this course. Page 5 of 7
6 Date Topic Reading due before class Homework Due (before class) Mon 17 Aug Intro to public finance / this course Wed 19 Aug Topics / utility theory review M P & 1 Fri 21 Aug Supply/demand/surplus/welfare review M 2 & 3 Mon 24 Aug Homework review, topics review M 4 & 5 HW 1 Wed 26 Aug Understanding regression results M 6 & 7 Fri 28 Aug Public goods M 8 & 9 Mon 31 Aug HW review/free-riding/crowding out M 10 & 11 HW 2 Wed 02 Sep Externalities / Coase / Pigou TBA Fri 04 Sep Environment and health TBA Mon 07 Sep No class (Labor Day) Wed 09 Sep HW review/exam review TBA HW 3 Fri 11 Sep Exam 1 Mon 14 Sep Cost/benefit analysis TBA Wed 16 Sep Measuring benefit / mistakes TBA Fri 18 Sep HW review/public choice theory TBA HW 4 Mon 21 Sep Lindahl pricing / voting TBA Wed 23 Sep Public choice theory TBA Fri 25 Sep Fiscal federalism TBA Mon 28 Sep Education externalities / mkt failures TBA Wed 30 Sep Market approaches / returns TBA Fri 02 Oct Returns to education TBA Mon 05 Oct HW review/exam review HW 5 Wed 07 Oct Exam 2 Fri 09 Oct No class (Fall break) Mon 12 Oct Intro to social insurance TBA Wed 14 Oct Social security insurance TBA Fri 16 Oct Social security reform TBA Mon 19 Oct HW review/unemployment insurance TBA HW 6 Wed 21 Oct Moral hazard/benefits to firms TBA Fri 23 Oct Income redistribution TBA Mon 26 Oct HW review/us health care TBA HW 7 Wed 28 Oct Private and public health insurance TBA Fri 30 Oct Public health care TBA Mon 02 Nov HW review/exam review HW 8 Wed 04 Nov Exam 3 Fri 06 Nov Types of taxation TBA Mon 09 Nov Income tax TBA Wed 11 Nov Equity/inefficiency/optimal taxation TBA Fri 13 Nov Taxes on labor TBA Mon 16 Nov Taxes on savings TBA Page 6 of 7
7 Date Topic Reading due before class Homework Due (before class) Wed 18 Nov HW review/wealth and investment TBA HW 9 Fri 20 Nov corporate taxation/investment/financing TBA Mon 23 Nov Tax reform TBA Wed 25 Nov Consumption and flat taxes TBA Fri 27 Nov No class (Thanksgiving) Mon 30 Nov HW review / tax topics HW 10 Wed 02 Dec Public finance topics Fri 04 Dec Exam review Wed 09 Dec Final - 7:30 to 9:30 AM Page 7 of 7
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