Planning and Methods of Financing Municipal Infrastructure Projects
Level:
Master's Course Status:
Elective CEU credits:
2 Academic year:
2011/2012 Semester:
Winter Start and end dates:
9 Jan 2012 - 30 Mar 2012 Co-hosting Unit(s) [if applicable]:
Department of Public Policy Stream/Track/Specialization/Core Area:
Decentralized Governance Specialization CEU Instructor(s):
Karoly Zoltan Jokay Assessment :
Course Requirements:
Regular class attendance and discussion, policy presentation in small group format and final paper.
The approach to instruction will be interactive, that is, students will be expected to be active in commenting on the readings, and in adding their own experiences to the discussion. We will attempt to integrate as many practical examples as possible into the class discussions.
Grading:
20 % class participation and contribution to discussion, 30% group exercise and presentation, 50% final policy memo (paper).
Full description:
- Subnational units of government, defined as municipalities and regions/provinces, as long as they have their own sources of revenue and clear responsibilities according to national constitutions, play an increasing role in financing their economic and service-delivery infrastructure. In tight fiscal circumstances, subnational units of government face not only constricted resources, but also increased demands directly from the citizens and taxpayers. For this reason, what and how the subnational level finances is a critical element in any State’s public finance system, and is a determinant of public welfare.
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- The course will discuss the bank-driven, West European, as well as aspects of the capital market-driven North American or Anglo-Saxon model.
- In addition, given the student audience, we will look at infrastructure financing at the subnational level in select transition countries, such as Poland, Hungary, and the Western Balkans (Ex-Yugoslavia).
- Students will be encouraged to share African, Asian and Latin American experiences.
- The course will be grounded in models supported by actual practice, and the participants will be expected to research the subnational financing system of their own countries and base their group assignment on such inquiry.
- Some of the specialized sessions may involve guest speakers with legal and financial backgrounds (For example, Public Private Partnerships, or how banks evaluate municipal creditworthiness).
- Students will be expected to present the borrowing framework of a country of their choosing (group assignment), as well as independently write a policy brief to a fictional minister in another country, outlining the most critical missing element in the legal framework for municipal borrowing.
The emphasis will be on showing practical examples of how theoretical principles were actually applied in the field in countries undergoing transition. The readings will attempt to have an even balance between theory and actual practice in the transition countries.
