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PUBLIC ECONOMICS - I
Paper Code:
ECO 125
Credits:
4
Contact Hours:
60.00
Max. Marks:
100.00
Objective:
To develop an understanding of Public Economics among students.
12.00
Unit I:
Introduction
- Nature and scope of Public finance
- Role of Government Changing Perspective
- Role of the Government in a Capitalist, Mixed and Socialist Economy
- Fiscal functions of the government : Allocation, Distribution & Stabilization
- Government as an agent for Economic Planning and Development
- Private and Public sector : Cooperation or Competition
12.00
Unit II:
- Private goods, Social goods & Merit goods
- Market failure: Imperfections, Decreasing costs, Externalities, Uncertainty
- Externalities : Meaning, Positive and negative externalities, Corrective policy
- Principle of Maximum Social Advantage
- Public Revenue : Sources and Classification
12.00
Unit III:
Taxation I
- Taxation: Meaning, canons, classification
- Tax ratio, Buoyancy, Elasticity
- Effects of Taxation
- Taxable Capacity : Meaning, Types, Measurement & Determinants
- Double Taxation
12.00
Unit IV:
Taxation II
- Incidence of Taxation
- Meaning & Distinction between Impact & Incidence
- Types & Theories of Tax Incidence
- Shifting of tax under different Cost conditions
- Shifting of tax under different market conditions (Perfect Competition & Monopoly)
- Forward & backward shifting
- Principles of taxation: The Benefit approach, Ability to pay approach
- Trends of Taxation in India
12.00
Unit V:
Public Expenditure
- Public expenditure: Meaning, nature & classification
- Wagner’s Law of Increasing State Activities
- Wiseman Peacock Hypothesis
- Effects of Public expenditure
- Trends of Public expenditure in India
Essential Readings:
- Musgrave, Richard A. (1959), Theory of Public Finane, McGraw Hill, Kognakhusa, Tokyo.
- Musgrave, R. A. and P. B. Musgrave, 1980, Public Finance in Theory and Practice, McGraw Hill, Kogakusha, Tokyo.
- Dalton, Huge, Principles of Public Finance, 1971, Rontledge and Hegan Paul Limited, London.
- Herber, B. P., Modern Public Finance, 1976, Richard D Iruin, Homewood.
- Datt., Ruddar and K.P.M. Sundaram, Indian Economy, 2001, S. Chand & Company Limited, New Delhi.
- Ganguly S., Public Finance, 1999, The World Press Private Ltd. Calcutta.
- Goode, R.(1986), Government Finance in Developing Countries, TMH, New Delhi.
- Jha. R.(1998), Modern Public Economics, Routledge, London.
- Atkinson, A.B. and J.E. Siglitz (1980), Lectures on Public Economics,TMH, New York.
- Tyagi, B.P., Public Finance, Latest edition, Jain Praksash Nath & Company, Meerut.
- Bhatia, H. L., Public Finance, Recent Edition, Vikas Publication, New Delhi.
Academic Session:
