Economic Policy in Ireland

COURSE OBJECTIVE 

This course is designed to provide students with the analytical and historical foundation for studying contemporary public policy issues in Ireland. It begins with a brief overview of how the Irish economy has evolved in the past 25 years and identifies and outlines a series of key public policy issues in areas such as health, housing, the environment, and social protection. It proceeds to develop an economics framework for analysing these issues which covers the concepts of efficiency, equity, market failure, welfare state, and cost benefit analysis. This framework is then applied to the various public policy issues identified earlier in the course. The course will include a field trip to Dublin to meet key policymakers and analysts.

LEARNING OUTCOMES

On completion of the module the student should be able to:

• Outline how the Irish economy has evolved over the past 25 years with particular attention to key public policy objectives.
• Describe the main mechanisms of resource allocation in modern societies.
• Define the main social objectives for the allocation of societal resources.
• Apply the theoretical framework of market failure and cost-benefit analysis to examine the role of public policy in the Irish economy.
• Apply the theoretical framework of government failure to appraise the role of public policy in the Irish economy.
• Describe the role, objective and impact of the welfare state.
• Present and apply a set of theories of society to explore the nature of welfare state systems in Ireland and comparable countries.
• Present an economic analysis of public policy in a number of sectors including health, education, income redistribution, housing, road congestion and climate change.

REQUIRED READINGS 

• O'Hagan/O’Toole/Whelan, editors. The Economy of Ireland: Policymaking in a Global Context, 14th Edition, Palgrave, 2021. (Students must ensure that they have access to this book.)
• Other required readings will be placed on the Course Blackboard.

COURSE OUTLINE

Week 1:

• Overview of Irish economy
• Historical Background; Social Objectives for Resource Allocation
• Market Failure and the Role of Government

Week 2:

• Theories of the Welfare State
• Behavioural Economics and Public Policy

Week 3:

• Cost Benefit Analysis
• Distribution and Poverty
• Housing, Energy and the Environment, Health

Week 4:

• Education
• Various

Final Exam

REQUIREMENTS FOR CREDITS 

1. Attendance and participation in lectures (10%)
2. Policy brief on a selected issue of interest and current debate in Ireland (40%)
3. Final exam (50%)