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(SYLLABUS)
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(Public Finance)
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Objectives
• The aims of this course are to introduce basic concepts of public finance, particularly in the context of
macroeconomics policies, to the students. This course will provide students relevant theoretical methods to analyze
government public finance policies. The course will emphasize on application of advanced macroeconomic to
public finance.
Sr. No. Topic
1 Meaning and scope of Public Finance; Principles of maximum social advantage;
Issues related to economic activities of the public sector.
2 Instrument of public finance: concepts and role of budget; Public revenue: Revenue
receipts and capital receipts.
3 Taxation and its cannons; Division of tax burden: Expediency theory.
4 Socio – political theory; Ability to pay theory; objective and subjective indices.
5 Incidence of taxes and the effects of a tax, Forward and backward shifting; Theories
of tax shifting: the concentration theory; Diffusion theory.
6 Classification and choice of taxes: Direct and indirect, VAT; Effect of taxation on
production and growth.
7 Public Debt: Meaning of public and private debt and its limitations; Public debt,
economic growth and inflation.
8 Public expenditure: Meaning and nature of public expenditure, Wagner’s law of
Increasing of state activities; Effects of public expenditure and economic
stabilization; Public budget: Introduction, types.
9 Federal Finance: The rationale and principles; Indian Federal Finance: Historical
background, financial federalism under constitution.
10 Finance Commission: Introduction, rationale.
