Course Information
FacultySocial and Economic Sciences
Cycle / Level2nd / Postgraduate
Teaching PeriodSpring
CoordinatorSouzana-Maria Palaiologou
Course ID600014575

Programme of Study: PMS STA OIKONOMIKA (2018-sīmera) (MF)

Registered students: 0
OrientationAttendance TypeSemesterYearECTS
KORMOSCompulsory Course216

Programme of Study: PMS STA OIKONOMIKA (2018-sīmera) (PF)

Registered students: 13
OrientationAttendance TypeSemesterYearECTS
KORMOSCompulsory Course216

Class Information
Academic Year2018 – 2019
Class PeriodSpring
Faculty Instructors
Weekly Hours3
Class ID
Course Type 2016-2020
  • Scientific Area
Course Type 2011-2015
Specific Foundation / Core
Mode of Delivery
  • Face to face
Digital Course Content
Language of Instruction
  • Greek (Instruction, Examination)
General Prerequisites
“R” and Eviews 9 for panel and time series analysis
Learning Outcomes
To know the basic characteristics of quantitative research and understand its role in public finance. • To learn different ways to collect quantitative data • To practice the empirical application of models for public economics • Implement methodological and solve practical problems that may arise from the researcher's involvement in the field study
General Competences
  • Retrieve, analyse and synthesise data and information, with the use of necessary technologies
  • Work autonomously
  • Generate new research ideas
  • Advance free, creative and causative thinking
Course Content (Syllabus)
The course aims to examine various contemporary issues within the area of public economics with emphasis on fiscal policy. These issues include: theories about the relationship of income with the degree of democratization, political polarization and division. Also we examine the relationship between economic growth and public spending and theories related to the twin deficits hypothesis.
public economics; public choice
Educational Material Types
  • Notes
  • Slide presentations
  • Book
Use of Information and Communication Technologies
Use of ICT
  • Use of ICT in Course Teaching
  • Use of ICT in Laboratory Teaching
  • Use of ICT in Communication with Students
  • Use of ICT in Student Assessment
Course Organization
Laboratory Work78
Student Assessment
Student Assessment methods
  • Written Exam with Extended Answer Questions (Formative, Summative)
  • Written Exam with Problem Solving (Formative, Summative)
Additional bibliography for study
1. Acemoglu, D., Johnson, S., Robinson, J.A., and Yared, P., 2008. Income and democracy. American Economic Review 98, 808-842. 2. Cervellati, Matteo, Florian Jung, Uwe Sunde, and Thomas Vischer. 2014. Income and Democracy: Comment. American Economic Review, Vol. 104(2): 707-719. 3. Benhabib, J., Corvalan, A., Spiegel, M.M., 2013. Income and democracy: Evidence from nonlinear estimations. Economics Letters 118, 489-492. 4. Benito, E.M., Bartolucci, C., 2012. Income and democracy: Revisiting the evidence. Economics Letters 117, 844-847. 5. Heid, B., Langer, J., Larch, M., 2012. Income and democracy: Evidence from system GMM estimates. Economics Letters 116, 166-169. 6. Paleologou, S.M., 2015. Income and democracy: the modernization hypothesis re-visited via alternative non-linear models. Empirical Economics, Vol. 48: 909-921. Acemoglu, D., and Robinson, J.A. 2006. Economic origins of dictatorship and democracy. New York and Cambridge, Cambridge University Press. Przeworski, A., Alvarez, M.E., Cheibub, J. A., and Limongi, F. 2000. Democracy and development. Cambridge, Cambridge University Press. 7. Peacock, A and Scott, A (2000). The curious attraction of Wagner’s Law, Public Choice, 102, 1-17. 8. Wahab, M. (2004). Economic growth and expenditure: evidence from a new test specification, Applied Economics, 36, 2125-2135. 9. Kahn, J.A. (2011). Can we determine the optimal size of government? CATO Institute, 14(7), 1-10. 10. Henrekson, M. (1993). Wagner’s law: A spurious relationship? Public Finance 48, 406–415. 11. Courakis, A., Moura-Roque, F. and Tridimas, G. (1993). Public expenditure growth in Greece and Portugal: Wagner’s law and beyond, Applied Economics, 25, 125-134. 12. Ansari, M., Gordon, D and C. Akuamoah (1997). Keynes versus Wagner: public expenditure and the national income for three African counties, Applied Economics, 29, 543-550. 13. Ghali, K. H. (1999). Government size and economic growth: Evidence from a multivariate cointegration analysis, Applied Economics, 31, 975-987. 14. Narayan, P.K, Prasad, A. and Baljeet, S. (2000), A test of the Wagner’s hypothesis for the Fiji islands, Applied Economics, 40, 2793-2801. 15. Hsieh, E. and Lai, K. (1994). Government spending and economic growth, Applied Economics, 26, 535-42. 16. Kolluri, B. R., Panik, M. J. and Wahab, M. S. (2000). Government expenditure and economic growth: Evidence from G7 countries, Applied Economics, 32, pp. 1059-1068. 17. Paleologou, S. (2015). The long-run tendency of government expenditure: a semi-parametric modeling approach, Empirical Economics, forthcoming. 18. Sideris, D. (2007). Wagner’s Law in 19th century Greece: A cointegration and causality analysis, Bank of Greece, Working paper, No.64. 19. Thornton, J. (1999). Cointegration, causality and Wagner’s Law in 19th century Europe, Applied Economic Letters, 6, 413-416. Vamvoukas, G. A. (1999), The twin deficits phenomenon. Evidence from Greece, Applied Economics, 31: 1093-1100. 21. Leachman, L. and Francis, B. (2002), Twin deficits: Apparition or Reality? Applied Economics, 34: 1121-1132. 22. Bangai, A (2006), Structural breaks and the twin deficits hypothesis, International Economics and Economic Policy 3: 137-155. 23. Kalou, S., and Paleologou, S.M. (2012). The twin deficits hypothesis: Revisiting an EMU country Journal of Policy Modeling, 34(2): 230-241 24. Kaufmann, S., Scharler, J. and G. Winckler (2002), The Austrian current account deficit: driven by twin deficits or by intertemporal expenditure allocation? Empirical Economics, 27: 529-542. 25. Cavallo, M. (2005) Understanding the Twin Deficits: New Approaches, New Results, Federal Research Bank of San Francisco, Economic Letter, No. 16. 26. Abell, John D., (1990), Twin Deficits during the 1980s: An Empirical Investigation, Journal of Macroeconomics, 12: 81-96.
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