Public finance

Public finance is the study of how governments raise and spend money. It's a branch of economics that examines the role of government in the economy, focusing on government revenue, expenditure, and the effects of these activities on society.

Key aspects of public finance include:

Revenue: How governments generate income, primarily through taxes but also fees, fines, and other sources.
Expenditure: How governments allocate their funds to various programs and services, such as education, healthcare, infrastructure, and defense.
Debt: The management of government borrowing and the associated national debt.
Economic policy: The use of fiscal policy (government spending and taxation) to influence economic growth, employment, and other macroeconomic objectives.

In essence, public finance is about understanding the relationship between government and the economy, and the decisions governments make to provide public goods and services while balancing budgets and promoting economic stability.

Public Finance