Credit

3.00   (L-T-P:   3-0-0)

Department / Center / School / Unit

Economics

Course Objectives

The course is aimed at developing an understanding of the basics in Public Economics and Public Finance. Public economics is the study of government policy from the points of view of economic efficiency and equity. The course deals with the nature of government intervention and its implications for allocation, distribution and stabilization. Inherently, this study involves a formal analysis of government taxation and expenditures. The subject encompasses a host of topics including public goods, market failures and externalities. The course is divided into two sections, one dealing with the theory of public economics and the other with the Indian public finances.

Suggested References

Joseph E. Stiglitz, Economics of the Public Sector, W.W. Norton & Company, 3rd edition, 2000.
R.A. Musgrave and P.B. Musgrave, Public Finance in Theory & Practice, McGraw Hill Publications, 5th edition, 1989.
Basu, K (ed) (2012), Oxford Companion to Economics In India, Oxford University Press.
Economic Survey, Ministry of Finance, Oxford University Press.