Public Finance

·         Nature and scope of public finance; fiscal functions: an overview

·         Public goods, private goods and merit goods

·         Market failure and externalities, government intervention

·         Property rights, the Coase theorem

·         Principle of maximum social advantage 

·         Public Expenditure: meaning, classification

·         Principle of public expenditure

·         Canons and effects of public expenditure

·         Wagner’s law of increasing state activities

·         Peacock-Wiseman hypotheses

·         Trends of public expenditure in India

·         Sources of public revenue

·         Taxation - meaning, canons and classification of taxes

·         Taxation: impact and incidence of taxes

·         Theories of tax shifting

·         Incidence and shifting of commodity taxes under different cost conditions

·         The benefit and ability to pay approaches

·         Taxable capacity

·         Effects of taxation

·         Optimal taxation

·         Tax System in India: structure and reforms

·         Objectives and classification of public debt

·         Burden of public debt - Ricardo Pigou Thesis, Buchanan Thesis, BDK Thesis, Musgrave thesis of Inter Generation Equality

·         Effects of public debt

·         Methods of debt redemption

·         Debt management

·         Loans versus taxes

·         Trends of public debt in India

·         Kinds of government budgets; Economic and functional classification of the budget

·         Centre state financial relationship

·         Role of Finance Commission

·         Recommendations of the latest Finance Commission

·         Fiscal federalism in India

·         Budget deficits in India

·         Current Central Government budget