Noh Hyung-kyu: Public Economics (26-1 semester, workbook included)

The mixed economic system in which we operate today is one where economic activities in the private and public sectors coexist. In particular, within the public sector, the government acts as an economic agent carrying out various economic activities; "public economics" is a branch of economics that studies these government activities. This book provides a concrete overview of the scale of public sector economic activity in Korea. Just as the analysis of consumer and corporate economic activities begins with the assumption that they pursue the maximization of utility and profit, respectively, the analysis of government economic activities starts with the assumption that they pursue the maximization of social welfare. To support this analysis, the book addresses efficiency and equity, and introduces not only government market intervention but also market failures in detail, such as monopolies, public goods, and externalities. Furthermore, it analyzes the decision-making process in the public sector based on public choice theory and covers cost-benefit analysis, a technique for evaluating large-scale government-led public projects. Finally, it examines the principles of taxation and related institutions, which are the most important means of securing the financial resources necessary for the government to perform its inherent functions.

Korean title: 공공경제학(26-1학기, 워크북포함)

Korean author: 노형규

Korean publisher: 한국방송통신대학교출판문화원

ISBN-13: 9788920035470