Public Finance

The study of the management and allocation of public funds, including budgeting, revenue generation, and fiscal policies.

Budgeting: The component of public finance that deals with the allocation and management of public resources for the purpose of fulfilling government responsibilities.

Taxation: The process of collecting financial resources from individuals or businesses to fund government activities.

Public Debt: The accumulation of financial liabilities incurred by the government, such as bonds or other forms of borrowing.

Fiscal Policy: The use of government spending and taxation to influence the economy, promote economic growth, and stabilize the business cycle.

Public Choice Theory: The study of how public officials and agencies make decisions about the allocation of resources.

Public Economics: The application of economic principles to issues of public finance, such as taxation, public goods, and social welfare.

Public Goods: Goods or services provided by the government that benefit the general public, but would not be provided by the private sector.

Public Governance: The process of managing public resources and implementing policy to achieve certain goals.

Revenue Policy: The planning and implementation of government policies related to the generation of revenue, including taxation, fees, and charges.

Financial Management: The process of managing government finances, including budgeting, accounting, and auditing.

Fiscal Deficit: The difference between government expenditures and revenue, resulting in a shortfall that must be financed by borrowing.

Public Expenditure: The government's expenditure on public goods and services, including education, health, and infrastructure.

Public Revenue: The income of government, such as taxes, fees, and fines.

Public Service Delivery: The provision of public services by government agencies, including healthcare, education, and transportation.

Public-private partnerships: Collaborative arrangements between government and private sector entities to carry out public projects or provide services.

Regulation: The imposition of government rules and standards on private sector activities to promote public safety and welfare.

Public Investment: The allocation of government resources into long-term projects, such as infrastructure, that are expected to generate future income or benefit.

Decentralization: The transfer of power and resources from the central government to local governments or other entities.

Performance Management: The use of performance metrics and evaluation systems to assess the effectiveness of public programs and services.

Public Sector Reforms: Structural, organizational, and functional changes to the public sector to increase efficiency, effectiveness, and accountability.

Public Budgeting: This involves the management of public funds and the creation of budgets for government entities.

Public Debt Management: This involves managing the national debt, including borrowing and repaying loans, and implementing strategies to minimize the risk of default.

Public Expenditure Analysis: This is the analysis of government spending, including reviewing the efficiency, effectiveness, and adequacy of programs and policies.

Public Financial Accounting: This includes the management and reporting of government financial transactions, such as recording and monitoring expenditures and revenue.

Public Financial Reporting: This involves producing financial reports for public consumption, such as annual reports and financial statements.

Public Investment Management: This involves managing government-led investments in infrastructure, technology, and other projects.

Public Revenue Management: This includes identifying and implementing revenue-generating strategies for government entities, such as taxation, tariffs, and user fees.

Public Risk Management: This involves preparing for and managing risks associated with public finances, including natural disasters, economic downturns, and cybersecurity threats.

Public Sector Economics: This involves the study of economic systems and policies related to government entities.

Public Sector Financial Management: This encompasses all aspects of financial management related to government entities, including budgeting, accounting, and reporting.

What is the primary focus of public finance?

What are the three main areas within the purview of public finance?

Who proposed a framework to assess public finance?

What are the two central motivations for government intervention?

What factors influence how governments intervene in the economy?

What type of effects do government interventions have on economic outcomes?

Why do governments choose to intervene in the economy?

How does public finance contribute to achieving desirable effects?

What are the consequences of market failure?

How does government influence the distribution of income among citizens?

What is the role of public provision in government intervention?

How does taxation impact government intervention?

What are the potential outcomes of government subsidization?

How do specific government interventions impact economic outcomes?

What are the factors considered in political economy when making public policy?

How do governments determine the appropriate timing for intervention in the economy?

What methods are used to assess the efficient allocation of resources?

How do governments address income inequality through public finance?

How does government intervention impact the stability of the economy?

How do political considerations influence government intervention in the economy?