Business Economics SYBCOM – IV Semester IV Manan Prakashan

Business Economics SYBCOM – IV
SYBCOM Semester IV mana prakashan

Content:
1. The Role Of Government In An Economy (10 Lec.)
l Meaning and Scope of Public Finance.
l Major Fiscal Functions : Allocation Function, Distribution Function & Stabilization Function
l Principle of Maximum Social Advantage: Dalton and Musgrave Views – the Principle in Practice, Limitations.
l Relation between Efficiency, Markets, and Governments
l The Concept of Public Goods and the Role of Government

2. Public Revenue (10 Lec.)
l Sources of Public Revenue : Tax and Non-tax Revenues
l Objectives of taxation – Canons of taxation – Types of taxes : direct and indirect – Tax Base and Rates of taxation : proportional, progressive, and regressive taxation
l Shifting of Tax Burden: Impact and incidence of taxation – Processes – factors influencing the incidence of taxation
l Economic Effects of taxation: on Income and Wealth, Consumption, Savings, Investments, and Production.
l Redistributive and Anti–Inflationary nature of taxation and their implications.

3. Public Expenditure And Public Debt (10 Lec.)
l Public Expenditure: Canons – classification – economic effects of public spending – on production, consumption, distribution, employment, and stabilization – Theories of Public Expenditure: Wagner’s Hypothesis and Wiseman Peacock Hypothesis – Causes for Public Expenditure Growth.
l Significance of Public Expenditure: Social Security contributions – Low-Income Support and Social Insurance Programmes.
l Public Debt :Classification – Burden of Debt Finance : Internal and External- Public Debt and Fiscal Solvency

4 Fiscal Management and Financial Administration (10 Lec.)
l Fiscal Policy: Meaning, Objectives, Constituents, and Limitations.
l Contra Cyclical Fiscal Policy and Discretionary Fiscal Policy: Principles of Sound and Functional Finance
l Budget – Meaning, Objectives and Types – Structure of Union Budget – Deficit Concepts – Fiscal Responsibility and Budget Management Act.
l Intergovernmental Fiscal Relations : Fiscal Federalism and Fiscal Decentralization – Central-state Financial Relations – 14th Finance Commission Recommendations