We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy

Public Finance as the study of income Essay

Topics:

Paper type: Essay Pages: 2 (408 words)

Views: 254

Public FinanceIntroductionAccording to Hyman, 2010, the term public finance is defined as the study of how the government through rationing the use of government goods and services and funding their resource costs affects price incentives, production possibilities, and resource utilization. In the case, the author implies that the public finance sector is wholly identified as government related, and the private sector has very little influence on its activities.

Chand, 2008, defines public finance as the study of income, debt, and expenditure of the government.

He then goes ahead and gives the main difference with the term private investment; that unlike focusing on the government, private funding is for an individual or institution. The study of public finance also incorporates the analysis of the various fiscal and economic policies that the government comes up with to deal with the debts taken. Therefore, the definitions by Hyman, 2010, and Chand, 2008, are in harmony with each other.

In Bhatia, 2009, Public Finance is defined as the subject that discusses financial operations of the government treasury.

Bhatia, 2009, offers a comprehensive definition of the term public finance by first explaining the concept of public and private goods. In this angle, he is, therefore, able to formulate a definition that allows the reader to see the rationale of public sector economics. The role of the government in the public finance sector is also said to be regulatory; being termed as the invisible hand of market forces. The author, therefore, builds up the decision logically and therefore easily comprehendible.

Kennedy, 2012, offers a different approach towards the definition of public finance. Instead of coming up with her definition of the subject, she quotes existing definitions that accurately meet the demands of the reader. The most comprehensive is that of Dalton, that states that public finance is concerned with the expenditure and income processes of public authorities and the adjustment of one to the other. In total, the author summarizes the definitions and terms public finance as the activity concerned with the explanation of how governments collect revenue, incur expenditure and the administration of the tax expenditure process CITATION MMa12 l 1033 (Kennedy, 2012).

References

BIBLIOGRAPHY Bhatia, H. L. (2009). Public Finance. New Delhi: Vikas Publishing House Pvt .

Chand, S. (2008). Public Finance, Volume 1. Delhi: Atlantic Publishers & Dist.

Hyman, D. (2010). Public Finance. Boston, Massachussets: Cengage Learning.

Kennedy, M. M. (2012). Public Finance. New Delhi: PHI Learning Pvt. Ltd.

Source document

Cite this page

Public Finance as the study of income. (2015, Sep 27). Retrieved from https://studymoose.com/public-finance-essay

How to Avoid Plagiarism
  • Use multiple resourses when assembling your essay
  • Use Plagiarism Checker to double check your essay
  • Get help from professional writers when not sure you can do it yourself
  • Do not copy and paste free to download essays
Get plagiarism free essay

Not Finding What You Need?

Search for essay samples now

Our customer support team is available Monday-Friday 9am-5pm EST. If you contact us after hours, we'll get back to you in 24 hours or less.

By clicking "Send Message", you agree to our terms of service and privacy policy. We'll occasionally send you account related and promo emails.
No results found for “ image
Try Our service
online

Hi, I am Sara from Studymoose

Hi there, would you like to get such a paper? How about receiving a customized one? Click to learn more https://goo.gl/CYf83b

online

Hi, I am Sara from Studymoose

Hi there, would you like to get such a paper? How about receiving a customized one? Click to learn more https://goo.gl/CYf83b

image

Your Answer is very helpful for Us
Thank you a lot!