Taken AY2015/2016 Semester 1
EC3351: PUBLIC FINANCE
Description:
I took this module under Professor Chia Ngee Choon, the creator of the module. She told us that she had set up the module 15 years ago and designed the syllabus for it. Prof Chia is a really good teacher, and is quite well-known for teaching this particular module. I had students in my tutorial from Beijing University, and they had chosen to take her class based on their seniors’ recommendations. The module is therefore quite popular, and can go for a few hundred bid points. The class size is also rather small at 60 students.
The teaching of the module itself is somewhat different from other modules. Prof Chia’s style is for students to print and bring handouts, which she will then go through during lecture. Therefore, expect to be scribbling notes and drawing graphs during lecture. She will also give out readings and extra problems during lectures for students to complete on the spot. The problems are not graded, and she will walk around the LT to help students and answer any questions. She will then go through the problem with the whole class. It is therefore quite important to attend the lectures, especially because the webcast is not released until before midterm and final (to encourage students to come to lecture), and the textbook does not cover all the lecture material.
Tutorials are all taught by Prof Chia, and she generally will go around and look at students’ answers before choosing the students to present. The students she chooses often have the wrong answer or some common mistake that she will then explain to the class for everyone to learn. She is really nice, and will never press you to present if you choose not to do so. I have never felt her tutorials to be competitive, and have always enjoyed them.
In terms of the module material, we looked mainly at market failures, such as public goods and externalities, and government policies to achieve Pareto efficiency. Taxation is one main part of the syllabus. We also looked at political processes from an economic perspective.
Assessment:
The midterms and finals of this module are not easy. They are mostly application questions of the material learnt during class, and can be a little tricky. Therefore, to do well, you will have to be very sure of your concepts. The times given for the exams are also a little tight, so make sure you can draw graphs quickly and efficiently. A little trick discovered by me and my friends to draw indifference curves neatly and quickly is to bring a French ruler into the exam hall.
As for the project work, I found it to be much more taxing and difficult than the paper examinations. We had to complete a 25 page report and a presentation of a real-world issue, with possible resolutions using the concepts taught during class (e.g. tax redistribution). Analyzing real world data is highly recommended, although regression tables and graphs are a bonus and not necessary. I really recommend planning your time well to manage assignments if you aim to do well for the project, as it will definitely take up a lot of time and effort. Consultations with the prof are also helpful, although Prof Chia’s benevolent personality, may sometimes lead to confusion as to whether she really likes an idea or not. Regardless, she will warn you if she foresees major problems with your project.
Tutorial attendance/ participation: 10%
Mid-term: 20%
Project: 35% (including presentation and report)
Finals: 35%
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