Public Finance: Introductory Notes
Lecture 1
Public Finance
Introductory notes
PROF. ANDREEA STOIAN, PHD
DEPARTMENT OF FINANCE AND CEFIMO
BUCHAREST UNIVERSITY OF ECONOMIC STUDIES
Team
Andreea Stoian, Professor of Finance, PhD, Department of Finance and
CEFIMO, Bucharest University of Economic Studies
Email: andreea.stoian@fin.ase.ro
Webpage: http://www.ase.ro/index.asp?nod=academic&item=detalii_profesori&ID=758
Office hours: Tuesdays, 3pm-6pm, Room 3108, Department of Finance
Student of the Faculty of Finance and Banking, 1st year, English class
Head of the English class: email address, mobile contact
Heads of groups: 1519, 1520, 1521: email addresses, mobile contacts
General aim
To have good knowledge in theory and in practice of
the main concepts, theories, methods and tools of
analysis used in Public Finance and applied on real
economy.
Learning outcomes (I)
Identify the costs
Give examples of
to society
different types of
related to
taxation
taxation
List the most Describe the
important area taxation and
of spending and budgeting
describe their system of one
effects on particular
economy country
Learning outcomes (II)
Good
Collect raw data
understanding and
and organizing
use of the methods
specific datasets
and tools of
used in the analysis
quantitative
of public finance
analysis
Analysis of various
Report the data on
issues on public
public finance
finance
Learning outcomes (III)
Understand some
Define concepts of simple economic
public finance models related to
public finance
Discuss current
controversies
Explain the political related to taxation
economy aspects of and government
public finance spending and to
other public finance
issues
Content
Topic 1
• Introduction to Public Finance
• Market failure, public goods and externalities
• Income distribution and welfare
• Macroeconomic stabilization, regulatory and control role
Topic 2
• Government Revenues
• Factors influencing the size of the government revenues
• The size, the composition and the dynamic of government revenues in RO and
compared to EU
Content
Topic 3
• Taxation. Romanian Tax System
• Principles of taxation, regulatory framework, types of taxes
Topic 4
• Government Spending
• Factors influencing the size of the government expenditures
• Hypothesis of increasing state activity
• The size, composition and the dynamic of government expenditures in RO and
compared with EU
Content
Topic 5
• Welfare state expenditures
• Government expenditures on education, health and social security and
protection
Topic 6
• Government borrowings
Topic 7
• Budget deficit and public debt
Compulsory readings
Lectures slides
Lectures notes
Cullis, J., Jones, P., Public Finance and Public Choice, Oxford 1998
Gruber, J., Public Finance and Public Policy, Worth Publishers, New York, 2009
Rosen, H., Gayer, T., Public Finance, McGraw Hill/Irwin, New York, 2007
Hyman, D., Public Finance. A Contemporary Application of Theory and Policy, Thomson, 2005
Public Finance and ACCA
Association of Chartered
Certified Accountants
The ACCA exams are divided into two levels; Fundamentals and Professional. The Fundamentals level is divided into
two modules Knowledge and Skills. The Knowledge module introduces you to the main areas of financial and
management accounting. You will study the other technical accountancy areas after you study this. There are six
subjects in the Skills module which cover the main technical areas that accountants are expected to know.
F1 Accountants in Business; F2 Management Accounting; F3 Financial Accounting; F4 Corporate and Business Law; F5
Performance Management; F6 Taxation; F7 Financial Reporting; F8 Audit and Assurance; F9 Financial Management
Assessment
60% Written
20% Test
examination
20% Project
Written examination. Public Finance
paper
SECTION A SECTION B
Questions Exercises
You have to provide the complete
There is only one correct and correct answer, or
answer To give the solution to the
exercise!
You have to choose it! 4.5 points
4.5 points
+1 point