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Public Sector Economics

Course Title

Public Sector Economics


ECN 420


Prof.Ljubomir Kekenovski, PhD

Course objectives (competencies): Upon completion of the course students should be able to:

  • Gain new knowledge about the place, role and representation of the public sector in the economic structure of modern economies;
  • Argue about the reasons for the existence of the public sector (market failure);
  • Understand the failure of the state (government);
  • Analyze programmatic approaches to budgeting;
  • They focus on public sector financing, deficits and their economic implications.


Course content: 

1. Public sector in modern economies;

2. The public sector in the Republic of Macedonia;

3.  Market versus state (government) resource allocation;

4.  Market failure (existence of monopolies, uneven and socially unacceptable distribution of income, public goods, externalities, asymmetric information, macroeconomic instability) and state regulation;

5. Government failure;

6. Provision of public goods;

7. Analysis of Government Consumption Programs (health, defense, social security, education);8.       Taxation – the microeconomics aspects of taxes;

9. Deficits, public debt and their economic implications.


70 години

Во 2020 Економскиот факултет при Универзитетот “Св. Кирил и Методиј” во Скопје слави 70 години од своето основање.