Topic 20: The Income and Expenditure of the Government

Thursday, April 12, 2012

Content

 A) Public Expenditure
v Public and Private Spending (meaning, aims and examples)
v Types of Public Expenditure
v Current and Capital Expenditure (Meaning and differences)
v Arguments for Public Expenditure

B) Public Revenue
v Sources of Revenue (tax, non-tax and grants)
v Taxation
o    Meaning
o    Reasons for Taxation
o    Canons of Taxation
o    Types of Taxes
Ø  Direct Taxes (Pros and Cons with examples)
Ø  Indirect Taxes (Pros and Cons with examples)
o    Kinds of Tax
o    The Fairness of a Tax
Ø  Progressive Tax
Ø  Regressive Tax
Ø  Proportional Tax
o    A Graphic Presentation of the Fairness of a Tax

C) The National Debt
v The National Debt and Public Debt
v PSBR and PSDR
v Three categories of National Debt

D) Financial Administration
v The Budget
v Uses of Budget
v Types of Budget
o    Deficit Budget
o    Surplus Budget
o    Balanced Budget
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