Public Finance: How Taxes and Fees Fund Civic Spending

A comprehensive understanding of public finance is critical to understand the role that local leaders play in ensuring fiscal responsibility, sustainability and provision of public goods and services. This course draws on theoretical concepts and practical application of public finance at the national, state and local levels. Students will be able to discuss the following critical public finance questions that organize the class:

• Why study public finance?
• How is public finance utilized to achieve redistribution and social insurance?
• How is taxation applied in practice at the national and state level?
• What financial tools does a municipality have?

Learning Outcomes:

• By the end of the course, students will understand the theoretical tools of public finance, budget analysis, and deficit financing. Students will also understand how public welfare socially optimal outcomes. Students will consider how federally- and state-funded social insurance programs are implemented and the challenges associated with them.
• Students will understand how tax systems are implemented in practice at the federal and state level, considering the impact of major fiscal events in California’s recent history. Students will consider both positive and negative implications of a given policy by presenting an argument for or against an assigned policy.
• Students will understand the tools of municipal finance and understand how local jurisdictions provide public services.
• Students will be able to consider definitions of equity and provide an analysis of a social fiscal policy/program of their choice.