Fiscal Policy and Public Finance
Description
Fiscal Policy and Public Finance encompasses the study of government revenue collection through taxation, government expenditure for public services, and public debt management to influence economic activity and achieve macroeconomic objectives. The subject covers different types of taxes, government spending categories, budget preparation and approval, fiscal deficits and surpluses, and fiscal instruments for economic stabilization. Learners will understand how governments use taxation and spending to manage aggregate demand, address market failures, and fund public goods. Understanding fiscal policy is essential for comprehending how governments influence economic growth and stability.
Learning Objectives
Upon completing this subject, learners will be able to understand different tax types and their economic effects. They will analyze government spending categories and fiscal impacts. Learners will understand fiscal deficits and public debt. They will evaluate expansionary and contractionary fiscal policy. They will analyze budget components and fiscal sustainability. Finally, learners will synthesize information to understand fiscal policy's role in economic management.