Public Financing and BudgetingModule Details

Rationale 

This course aims to introduce students to the fundamental concepts of public sector finance with an emphasis on public budgeting. The course will examine the main phases of the budgetary process as well as the elements that influence it. Students will get acquainted with projected revenues and expenditures and become familiar with the causes of deficit and surplus budgets. Fiscal and Monetary Policies will also be examined along with the ways these influence budget making and execution. Core themes of taxation, accounting, reporting and auditing are covered. The course concludes with an exploration of the ethical issues pertaining public sector finance.

Learning Outcomes

At the end of the course students will be expected to:
 
(i)    Define public finance and public budgeting. 
(ii)   Discuss the challenges of the role of government in public finance.
(iii)  Identify the main phases of the budgetary process and the factors influencing this process.
(iv)  Identify examples of best practices in public sector finance.
(v)   Explain when a budget deficit and budget surplus occur.
(vi)  Describe the main features and principles of fiscal and monetary policies.
(vii) Explain the main elements of the economic theory of taxation.
(viii) Comply with the financial reporting requirements of the regulatory framework for public finance management.
(ix)  Explain how budgeting is accomplished in different governance systems. 
(x)   Outline the main principles for managing public money on an ethical level.