The role and nature of the government sector in the economy, principles of taxation, tax equity, incidence and excess burden of taxes, structure of taxes in the economy, role of personal, corporate, sales and wealth taxes, fiscal stabilization policy, and the economics of public debt. Preclusion: credit will not be given if taken concurrently with or after ECON 4401 (no longer offered) or ECON 4404. Precludes additional credit for ECON 3003 (no longer offered) and ECON 3407 (no longer offered). Prerequisite(s): ECON 1000 or FYSM 1003.Lectures three hours a week.