Syllabus

Modules:

Unit-1
1. Role of Government in Economy
2. Theory of Social goods
3. Theory of Public Choice

Unit-2
Public Expenditure
Growth and structure of Public Expenditure, Public expenditure management, cost benefit analysis of public expenditure, evaluation of public expenditure-principle and problems, subsidies
Unit-3
Public Revenue
Issues in individual income taxation, corporate taxation, income tax integration, principle of taxation, indirect taxation-principle and issues, value added tax (VAT)-principle and issues, and Non-tax revenue
Unit-4
Federal Finance
Principle of federal finance, centre-state relationship.

Public economics (or economics of the public sector) is the study of government policy through the lens of economic efficiency and equity.

Public economics is concerned with issues, objectives and policies that affect the mass level of citizen of any nation state.

In this economic analysis has done on the basis of public policy and its economics which revolve not particular group or individual but specific administrative unit. At its most basic level, public economics provides a framework for thinking about whether or not the government should participate in economics markets and to what extent its role should be. In order to do so, microeconomic theory is utilized to assess whether the private market is likely to provide efficient outcomes in the absence of governmental interference. Inherently, this study involves the analysis of government taxation and expenditures. This subject encompasses a host of topics including market failures, externalities, and the creation and implementation of government policy. Public economics builds on the theory of welfare economics and is ultimately used as a tool to improve social welfare.

Harvey, Rosen,, Public Finance, IRWIN, Homewood, 1988

Atkinson, A. B. and Stiglitz, J.E, Lecturer in Public Economics, McGraw-Hill, New York 1980.

Musgrave Richard A, Fiscal System, Yale University Press, New Haven and London, 1969.

Musgrave, Richard A & Shoup, Carl S, Classics of the Theory of Public Finance, Macmillan, 1962