90-706 Public Finance: Theories and Cases
12 units, Carnegie Mellon University
Understanding public finance is essential for people working in public policy. Traditionally the study of public finance has been treated largely as a branch of microeconomics focussing on taxation and how the funds raised by taxation are spent. Lately a more contemporary approach has emerged which takes a more multidisciplinary approach. The longstanding concern with efficiency remains but there is greater emphasis on fairness and equity as well as on developing solutions that work in practice where political feasibility becomes important. This raises issues of citizen involvement coproduction and other forms of partnerships between governments and citizens, particularly citizen involvement in spending decisions. It also focusses attention on efficiency and fairness in how public finance is raised through taxation and debt as well as on modes of service delivery. Underpinning all of this is the normative debate about the role of government. To address these different perspectives, this course draws upon the disciplines of economics, political science, political philosophy and management. It is intended to put students into the drivers seat so that they understand not only the concepts but can also work the levers for managing public finance functions.
Prerequisites: none listed
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