Content: 1. Public finance definition of basic concepts, linkages, and aspects; connection with the economy of the public sector, causes the development of public finances, arguments, functions and principles, macro - a microeconomic context, development of fiscal theory. 2. Private versus public sector - market efficiency, fairness (macro- and microeconomic implications. 3. Public goods - definition, classification, free-rider problem, and provision of public goods. 4. Public choice - voting rules under direct democracy (unanimity, majority, logrolling), representative democracy (median voter, bureaucracy 5. Externalities - definition, classification, private and public responses to externalities. 6. Public expenditures, public projects, and public expenditure programs - introduction into the analysis, the definition of basic concepts, types of public expenditures, and their classification. 7. Cost-benefit analysis of public expenditures, public projects and public expenditure programs effectiveness of public expenditures, public projects, and public expenditure programs, methods used for the analysis of their effectiveness. 8. Introduction to the tax theory - classification, historical and theoretical aspects, tax principles, fairness of taxes, tax efficiency (tax burden, administrative costs), tax incidence. 9. Social security - causes of origin, implementation tools, social insurance. 10. Spatial aspects of public finance, fiscal federalism, fiscal decentralization, local finance. The issue of securing public services at different levels of government. 11. Budget system and budget process. The state budget, budgeting methods. Calculation of government debt. Budget and fiscal policy - definition of basic concepts, links between budget and fiscal policy, various influences. 12. Short-term and long-term fiscal imbalance - consequences and possible solutions. Structural deficit. Cyclical deficit. Hidden debt as a risk factor. 13. Current trends in public finance - definition, selected issues of public finance in the context of European integration.
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