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Course Contents

Public goods: Public goods defined, efficient provision of public goods, public versus private provision, public versus private production, public goods and public choice, Externalities: The nature of externalities, private responses, public response to externalities, taxes and subsidies, emission fees and cap-and-trade program. Expenditure Program Basic trade of, work incentives, work requirements, time limits, family structure Taxes and income distribution Tax incidence, partial equilibrium model: • Unit taxes on commodities • Ad volrem taxes • Taxes of factors • Commodity taxation without competition • Profit taxes • Tax incidence and capitalization General equilibrium models • Tax equivalence relations • The Herberger Model Taxation and efficiency Excess burden defined, excess burden measurement with demand curves, differential taxation of inputs, Efficient and equitable Taxation, Optimal commodity taxation, • The Ramsey rule • Equity consideration Optimal user fees, Optimal income taxation • Edgeworth model Politics and time inconsistency problems Other criteria for tax design • Horizontal equity • Cost of running the atx system • Tax evasion Deficit finance Interpreting deficit, surplus and debt numbers, the burden of the debt, • Lerner's view • An overlapping generation model • Neoclassical model • Ricardian model Should we reduce the deficit, hidden deficit and debt To tax or to borrow • Benefit received principle • Intergenerational equity • Efficiency considerations • Macroeconomic considerations • Moral and political considerations Public finance and ideology Organic view of the government, mechanistic view of the government, Government at a glance, the legal framework of the government of Pakistan, Expenditures and revenues in Pakistan. Taxation Structure in Pakistan Tax system in Pakistan, Elasticity and buoyancy of taxes in Pakistan, Federalism, National Finance Commission Award

Course Synopsis

The main objectives of the course are o To enable the student to understand the basic role of government in a modern state. o To facilitate the students with the use of public policy and its tools for the economic development and welfare maximization of the nation.

Course Learning Outcomes

By the end of this course it is expected that the student will be able: o To have an ability to apply knowledge of macroeconomics in public policy making. o To have an ability to identify, formulate and solve public sector problems. o To have the ability to critically evaluate the public policy.

Public goods and Private goods:Basic Concept

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Unit Taxes on Commodities (Tax is imposed on seller)

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Tax Wedge and Burden of Tax

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Unit Taxes on Commodities (Tax is Imposed on Buyer)

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The Elasticity of Demand and Supply and Incidence of Tax

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Tax system in Pakistan

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Tax Structure of Pakistan

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Tax Elasticity and Tax Buoyancy.Basic Concept

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Legal framework of Govt of Pakistan:Brief Introduction

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Book Title : Public Finance
Author : Harvey S. Rosen
Edition : 8th Edition
Publisher : McGraw-Hill
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Book Title : Eonomics of the Public Sector
Author : Joseph E.Stiglitz
Edition : 3rd Edition
Publisher : Norton

Book Title : Issues in Pakistan's Economy
Author : S. Akbar Zaidi
Edition : 2nd Edition
Publisher : Oxford University Press

Title : Public Goods
Type : Presentation

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Title : Externalities
Type : Presentation

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Title : Taxation and Income Distribution
Type : Presentation

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Title : Expenditure Programs for the Poor
Type : Presentation

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Title : Deficit Finance
Type : Presentation

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Title : Taxation and Efficiency
Type : Presentation

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Title : Efficient and Equitable Taxation
Type : Presentation

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Title : Public Finance and Ideology
Type : Other

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Title : Tax system in Pakistan:Elasticity and Buoyancy of taxes in Pakistan
Type : Reference Book

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