Introduction to Public Finance - The University of ….ppt

Introduction to Public Budgeting and Finance;Administrative Stuff;Objectives of the course;What is Public Budgeting?;What is Public Finance?;What is the Role of Government?;The Role of Government: Ideology;Current Trends;Organic view of government;Mechanistic view of government;The Role of Government: Objective Analysis;Complexity theory and Systems thinking;Government in a market economy;Legal Framework;Federal Government: Expenditure;Federal Government: Revenue;State and local governments;The Size of Government;Historical context;What has happened to the deficit?;What has happened to the size of government as a share of GDP?;How does size of US government compare with other countries (2001)?;How does the federal government spend its money?;How do state governments spend money?;Where does the government get its money?;How do we Objectively Measure Government Performance?;Role of Theory;If we fail to test our theories and their assumptions, or continue to believe them when they fail the tests, they become ideology, not theory;Neoclassical Economic Theory;Ecological Economic Theory;Georgist Economic Theory;Empirical methods for Testing theories;Measurement in a complex system;How do we normatively measure government Performance?;Why do we need normative measures?;Pareto Efficiency;Indifference curves in Edgeworth box;;Contract curve;Marginal rate of substitution;Production possibilities frontier;Marginal cost;Efficiency demands that;First Fundamental Theorem of Welfare Economics;Second Fundamental Theorem of Welfare Economics;Conclusions