To develop an understanding of Public Economics among students.
• 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
• 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
• Taxation: Meaning, canons, classification
• Tax ratio, Buoyancy, Elasticity
• Effects of Taxation
• Taxable Capacity : Meaning, Types, Measurement & Determinants
• Double Taxation
• Incidence of Taxation
• Principles of taxation: The Benefit approach, Ability to pay approach
• Trends of Taxation in India