ECN 312: Public Finance And Fiscal Policy
Your course notes, organised in one place.
Your course notes
Everything you need, one note at a time.
The Theory of Demand and Supply of Public Goods3 items
The demand for private goods depends on the level of income while the supply is a function of the cost of production. Consumers reveal their preferences for the commodity by their willingness and ability to pay the price.
Externalities as Public Goods6 items
Externalities occur when one person’s actions affect another person’s well-being and the relevant costs and benefits are not reflected in market prices.
The Principle of Maximum Social Gains and Income Transfer3 items
The principle of Maximum Social Gains provides the criteria for determining the optimum size of public expenditure programmes (public output) and taxation. Public expenditure or output is provided through taxation.
About this course
The demand for private goods depends on the level of income while the supply is a function of the cost of production. Consumers reveal their preferences for the commodity by their willingness and ability to pay the price.
