This essay focuses on Public Finance.   Research relate to this topic: Borcherding, Thomas. 1985. “The Causes of Government Expenditure Growth: A Survey of the U.S. Evidence,” Journal of Public Economics (December): 359–82. Borcherding, Thomas and Robert Deacon, 1972.

 Public Finance

Firstly, How are public finance and public budgeting relate?

Secondly, How do economic factors and policy affect budgetary politics?

Justify your response.

Research related to this topic: Borcherding, Thomas. 1985. “The Causes of Government Expenditure Growth:

A Survey of the U.S. Evidence,” Journal of Public Economics (December): 359–82. Borcherding, Thomas and Robert Deacon, 1972.

“The Demand for the Services of Non-federal Governments,” The American Economic Review (December) 62(5): 891–901. Oates, Wallace E. 1985.

“Searching for Leviathan: An Empirical Study,” The American Economic Review (September) 75(4): 748–757. Oates, Wallace E. 1989.

“Searching for Leviathan: A Reply and Some Further Reflections,” The American Economic Review (June) 79(3): 578–583. Tiebout, Charles. 1956.

“A Pure Theory of Local Expenditures,” The Journal of Political Economy (October) 64(5): 416–424. Schultze, Charles L. 1992.

“Is There a Bias Toward Excess in U.S. Government Budgets or Deficits?” Journal of Economic Perspectives (Spring) 6(2): 25–43.

The goals of public finance

Public finance can be define as the study of government activities, which may include spending, deficits and taxation.

The goals of public finance are to recognize

Firstly, when,

Secondly, how

Thirdly, why the government should intervene in the current economy,

understand the possible outcomes of making changes in the market.

In addition, public finance can involve issues outside of the economy, including accounting, law and public finance management.

Understanding the role of the government and how changes may affect the economy are a few important aspects of public finance professionals.

When the government intervenes and takes action within the economy,

the outcomes are classify into one of three categories:

Firstly, economic efficiency,

Secondly, distribution of income

Thirdly, macroeconomic stabilization.

Economic Efficiency

Economic efficiency is the standard that economists use to evaluate a variety of resources.

Typically, efficiency can be determine by a general formula of ratios and their generate outcomes.

The difference between technical efficiency and economic efficiency is the relationship of values people place on things.

Firstly, Values in technical efficiency may be subjective from one person to another.

Economic efficiency focuses on eliminating waste to provide as much value as possible.

Secondly, Technical efficiency looks to maximize value, while sacrificing as much as is need to create the best initiative.

Additionally, check on time

Moreover, use your brain

Further, check on language

In addition, check on your speed