This course examines theories of public finance from the perspectives of resources allocation, re-distribution of income and wealth, and economic stability and growth, with an emphasis on the impact of budget decisions on social justice and social harmony. Specific emphasis will be placed on the budgetary process, budget assessment, and budget reforms. This course will also examine the implications of monetary policy, such as interest rate, exchange rate and money supply, on public finance.

CILO-1: Identify the key points and assumptions of the theories and debates about major issues in public finance. CILO-2: Discuss key steps and issues in the budgetary and monetary processes. CILO-3: Summarize and explain the impact of various tax regimes on the economy. CILO-4: Analyze the long-term sustainability of government budget and expenditure.