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Chapters 1-4 Summaries - Coggle Diagram
Chapters 1-4 Summaries
Chapter One :check:
MEANING OF PUBLIC FINANCE
The SCOPE OF PUBLIC FINANCE
Why is public finance needed?
Public & Private Finance
Public spending Vs Government spending
Relations with other social disciplines
Economics
Political Science
Sociology
Law
Ethics and Philosophy
Psychology
History
Public Administration
International Relations
Public Finance and Ideology
Organic view of government
Mechanistic view of government
Chapter Two : :no_entry:
Key concepts and components of public finance
Taxation
Government Spending
Budgeting
Fiscal Policies
Public Debt
Deficit and Surplus
Public Goods
Externalities:
Redistribution
Economic Stability
Inter-governmental Finance
Public Finance Theories
Financial Administration
Similarities and dissimilarities of private and Public
Chapter Three :forbidden:
Major Fiscal Functions
Allocation functions
Distribution functions
Stabilization functions
Mitigating Business Cycles
Controlling Inflation
Addressing Unemployment
Managing External Shocks
Maintaining Long-Term Growth
Regulatory functions
Consumer Protect
Environmental Protection
Market Competition
Financial Sector Regulation
Labor Standards
Health and Safety
Public Utilities
Public Health
Transportation
Information Privacy and Data Security
Education and Professional Licensing
Building Codes and Zoning
Chapter Four :!?:
THE PRINCIPLE OF MAXIMUM SOCIAL ADVANTAGE
Assumptions of the Principle
Public expenditure
Taxation
Attainment of maximum social advantage
Marginal Social Sacrifice (MSS)
Marginal Social Benefit (MSB)
Net Social Benefit (NSB
NSB=MSB-MSS
CATEGORIES OF GOODS
PUBLIC GOODS
Private goods
Mixed goods
Merit Goods