COURSE INFORMATION Course Title: FISCAL POLICY

Code	Course Type	Regular Semester	Theory	Practice	Lab	Credits	ECTS
ECO 342	B	6	3	0	0	3	6

Academic staff member responsible for the design of the course syllabus (name, surname, academic title/scientific degree, email address and signature)	Dr. Kristal Hykaj khykaj@epoka.edu.al
Main Course Lecturer (name, surname, academic title/scientific degree, email address and signature) and Office Hours:	Dr. Kristal Hykaj khykaj@epoka.edu.al
Second Course Lecturer(s) (name, surname, academic title/scientific degree, email address and signature) and Office Hours:	NA
Language:	English
Compulsory/Elective:	Elective
Study program: (the study for which this course is offered)	Bachelor in Economics (3 years)
Classroom and Meeting Time:
Teaching Assistant(s) and Office Hours:	NA
Code of Ethics:	Code of Ethics of EPOKA University Regulation of EPOKA University "On Student Discipline"
Attendance Requirement:
Course Description:	Examining about Public finance, definition and aim of fiscal policy, giving method of fiscal policy. Analyzing fiscal policy for inflation, deflation, instability and stagflation.
Course Objectives:	Evaluate the effectiveness of fiscal policy through consideration of factors including, the ability to target sectors of the economy, the direct impact on aggregate demand, the effectiveness of promoting economic activity in a recession, and crowding out.

BASIC CONCEPTS OF THE COURSE

1	Fiscal Policy
2	Public Finance
3	Budget

COURSE OUTLINE

Week	Topics
1	Introduction to Fiscal Policy. This lecture provides an overview of the recent macroeconomic trends, and identifies main fiscal challenges in the region where the course is taught, and presents the roadmap for the course. Page 1-24
2	Fiscal Policy.This unit covers the government’s role and key objectives in conducting fiscal policy: macroeconomic stability, efficient and equitable resource allocation, and sustainable long-term growth. Page 24-91
3	Sources of government revenue. In practice, fiscal policy entails specifics about expenditure and tax policy. The level and composition of expenditure and revenue matter greatly when looking at the impact of fiscal policy. Page 261-275
4	Types of government expenditure. Fiscal policy has also a role to play in terms of long term growth, mainly through investment in physical and human capital, and equity. Page 272-292
5	Taxation. Taxation in Albanian and its comparison around the world. Page 523-557
6	The Budget Outcome. Different fiscal aggregates have different purposes. To analyze fiscal policy, it is important to have a good understanding of key concepts, their interrelations, and their importance for fiscal objectives. Page 91-120
7	Midterm
8	Distribution in Fiscal Policy. This unit covers the concept of fiscal stance and how it adjusts for cyclical components of output fluctuations, and the impact of countercyclical policies. Page 489-521
9	Evaluation of fiscal policy. Designing investment spending plans and identifying the challenges associated with it are important for low income countries as well as emerging countries. Page 557-587
10	Taxation Inefficiency. Many LICs and EMs (LIIE) face high income volatility. They face more volatile business cycles and less consumption smoothing compared to AEs. They also face more inflation and exchange rate volatility and finally they experience more often fiscal crashes and sudden stops. Page 589-623
11	Deficit and Debt. This unit overviews the standard techniques to study debt dynamics, and explains why it is necessary to preserve debt sustainability in the medium to long run. PAge 647-674
12	Fiscal Policy and Debt. The 2008-09 crisis and its aftermath make the challenge of designing an optimal fiscal policy even more pressing. Page 674-701
13	The role of businesses and organization in the Fiscal Policy. In the case of oil exporters, a specific fiscal policy framework taking into account high income volatility and intergenerational transfers is warranted. Page 701-736
14	Semester Review for Final Exam. Questions and discussion.

Prerequisite(s):	Macroeconomics
Textbook(s):	Public Finance and Public Policy by Jonathan Gruber - Sixth Edition
Additional Literature:
Laboratory Work:
Computer Usage:	Excel, Word, PowerPoint
Others:	No

COURSE LEARNING OUTCOMES

1	Evaluation of fiscal policy
2	Fiscal policy and the ability to target sectors of the economy
3	Fiscal policy impact on aggregate demand
4	Fiscal policy effectiveness of promoting economic activity in a recession
5	Fiscal policy and crowding out

COURSE CONTRIBUTION TO... PROGRAM COMPETENCIES (Blank : no contribution, 1: least contribution ... 5: highest contribution)

No	Program Competencies	Cont.
Bachelor in Economics (3 years) Program
1	Students define the fundamental problems of economics
2	Students describe key economic theories
3	Students critically discuss current developments in economics
4	Students appropriately use software for data analysis
5	Students critically contextualize the selection of an economic problem for research within scholarly literature and theory on the topic
6	Students apply appropriate analytical methods to address economic problems
7	Students use effective communication skills in a variety of academic and professional contexts
8	Students effectively contribute to group work
9	Students conduct independent research under academic supervision
10	Students uphold ethical values in data collection, interpretation, and dissemination
11	Students critically engage with interdisciplinary innovations in social sciences
12	Student explain how their research has a broader social benefit

COURSE EVALUATION METHOD

Method	Quantity	Percentage
Midterm Exam(s)	1	35
Presentation	0	0
Case Study	0	0
Final Exam	1	55
Attendance		10
	Total Percent:	100%

ECTS (ALLOCATED BASED ON STUDENT WORKLOAD)

Activities	Quantity	Duration(Hours)	Total Workload(Hours)
Course Duration (Including the exam week: 16x Total course hours)	16	4	64
Hours for off-the-classroom study (Pre-study, practice)	2	20	40
Mid-terms	1	20	20
Assignments	1	6	6
Final examination	1	20	20
Other	0	0	0
Total Work Load:			150
Total Work Load/25(h):			6
ECTS Credit of the Course:			6

CONCLUDING REMARKS BY THE COURSE LECTURER

The purpose of this module is to present students with the role of the fiscal policy on maintaining a healthy public finance.