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DIVISION III. Applied Economics and Public Policy

Division III deals with the economics of the public sector, public policy, the role of the State and the Government in the economy and with applied economic policy issues pertinent to the design and implementation of policy measures in the various sectors of the economy.  Thus, teaching and research carried out in the Division covers a number of theoretical and applied topics. Theoretical topics include the Economics of the Public Sector and Public Policy. In the past, public policy focused mainly on taxation issues, but recently the emphasis is shifted on applied economic policy issues, public choice, cost benefit analysis, and the design of public policies in the economy. The research on the fiscal sector centers on issues such as the role of the tax and public expenditure policies and the efficient allocation of resources within the economy. The Division covers also the subjects of monetary policy, banking and the role of money in the economy. Applied public policy topics include fiscal policy and the effects of taxation and public expenditure on stabilization and growth, the analysis of public interventions in the various sectors of the economy, such as agriculture, energy, health, social security, telecoms. The emphasis is on the role of government, reasons and objectives of government intervention, analysis of the effects of public policies and the design of public policies for efficiency and social justice.

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