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Public Finance 

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Public Finance

Exploring Government Spending, Taxation, and Economic Policies: The Dynamics of Public Finance in Modern Economies


15 weeks

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Public Finance

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Public Finance
Course details

Who should do this course?
  • Professionals and academics studying economic theory, public policy, and fiscal management rely on public finance principles to analyze government budgets, tax systems, and the overall economic impact of government policies
What are the course deliverables?
  • Understand the fundamental concepts and theories of public finance, including public goods, externalities, taxation, and government expenditure
  • Analyze the role of government in the economy and its impact on resource allocation, income distribution, and economic stability
  • Evaluate different taxation systems and their efficiency, equity, and administrative feasibility
  • Critically assess the economic rationale behind government interventions, such as subsidies, regulation, and social welfare programs
More about this course
  • Public finance as a discipline is concerned with raising and spending money to deliver services and benefits, redistributing income, and smoothing the ups and downs of the business cycle
  • How effectively governments execute it depends crucially on their ability to collect, process, and act on a vast array of information: how much companies and workers earn, how many people are unemployed, who qualifies for government benefits
  • As a subject it encompasses a host of topics including market failures, externalities, structure and scope of government; taxation, subsidies and revenues; fiscal policies and behaviour of economic agents publicly provided goods; national government expenditures and related policies; national budget, deficit and debt; state and local government; intergovernmental relations etc
  • It considers the role governments play in keeping markets stable and analyzes the extent that government interference helps or hinders free-market activities
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Public Finance

Week 1

Part 1: Public Finance: An Introduction

Part 2: Public Finance: An Introduction

Pareto Efficiency

Part 1: Welfare Theorem

Part 2: Social Welfare Functions

Why do we need a Public Sector?

Week 2

Fiscal Functions

Theories of Public Expenditure: Wagner’s Law and Baumal’s Law

Part 1: Peacock Wiseman and Ratchet Effect

Part 2: Excessive Government

Part 1: Market Failures

Part 2: Redistribution and Merit Goods

Week 3

Public Goods

Part 1: General Model for Public Goods

Part 2: Lindahl Equilibrium Model

Pure and Impure Public Goods

Part 1: Free Riding and Public Good Provision

Part 2: Publicly Provided Private Goods

Week 4

Externalities: Definition and Market Inefficiency

Implication of Externalities

Part 1: Tragedy of Commons

Part 2: River Pollution and Traffic Jam

Part 1: Pecuniary Externalities

Part 2: Private Response to Externalities

Week 5

Public Responses to Externalities

Public responses to externalities emissions fee

Public Response to Externalities: The Cap and Trade Programs

Difference between Emissions Fees Versus Cap and Trade

Week 6

Implications for Income Distribution

Part 1: Principle of Taxation

Part 2: Desirable Characteristics of a Tax System

Nature of Tax Burden

Week 7

Meaning and Measures of Taxable Capacity

Concepts of Tax Incidence

Measuring Tax Incidence

Week 8

Partial Equilibrium View of Product Taxes

Deadweight Loss: Quantifying Economics Inefficiency of Taxation

Taxation of Savings and Labour Income

Week 9

Optimal Taxation

Government in the Economy

Fiscal Policy: Multiplier Effects

Week 10

Part 1: Overview of Money

Part 2: The Concept of Money and Measures of Money Supply

Part 1: How Bank Creates Money?

Money Demand and Equilibrium Interest rate

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Public Finance
Faculty details

Dr. Shreeda Chungkham
Dr. Shreeda Chungkham is currently serving as an Assistant Professor in the Department of Economics, Dhanamanjuri University, Imphal, Manipur, India. He has teaching experience of about 5 years. He has received his Ph. D from Centre for Economic Studies and Planning, Jawaharlal Nehru University, New Delhi, India on the topic ‘Ethnic Diversity and Economic Performance in North East India since 1972’. His research interest lies in development economics, development challenges of North East India, bilateral relations between India and South Korea and behavioural economics. To his credit, he has research work published in various journals and regularly presented papers in national and international conferences and seminars.

Public Finance
Admission Process

    Important Dates

    Jul 15, 2024
    Course Commencement Date

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