Course Details

Public Finances

Academic Year 2023/24

NVB058 course is part of 2 study plans

​ NPC-SIE Winter Semester 2nd year

​ NPC-MI Winter Semester 1st year

Subject is focused on characteristics of public finances, public estates and basic principles of decision making in public sector. There are solved areas of public revenues and expenditures, principles of tax theory, social security and social insurance. Part of the subject is also created by spatial aspects of public finances and principles of budgetary process including impact of fiscal imbalance on the state economics.

Credits

3 credits

Language of instruction

Czech

Semester

winter

Course Guarantor

doc. Ing. Vít Hromádka, Ph.D.

Institute

Institute of Structural Economics and Management

Forms and criteria of assessment

graded course-unit credit

Entry Knowledge

Fundamentals of microeconomics, macroeconomics and financing, tax structure overview.

Aims

Student will obtain elementary overwiev about public financing problem and about systém of public financing in Czech Republic. The aim of subject is to refer to financial structure within the scope of public sector and their incidence to economy of the state entire, economy of regions and economy of private subjects.
Knowledge of financial structure within the scope of public sector and their incidence to economy of the state entire, economy of regions and economy of private subjects.

Basic Literature

Maaytová A., Pavel J., Ochrana F. a kol. Veřejné finance: v teorii a praxi. Grada Publishing a.s., 2015, 208 stran (cs)
Hejduková, P. Veřejné finance – teorie a praxe. C. H. Beck, 2015, 272 stran (cs)
Hromádka, V. Veřejné finance. Elektronická studijní opora VUT, 2014, 120 stran (cs)
Gayer, T., Rosen, H. Public finance. McGraw-Hill Education, 2014, 588 stran (en)
Peková, J. a kol. Veřejný sektor, teorie a praxe v ČR. Wolters Kluwer, 2019 (cs)

Syllabus

1. Public finances – basic terms and links.
2. Economical analysis of public estates, their characteristics and typology.
3. Public choice and its consequence for public finance sphere. Basic rules of public choice.
4. Public expenditures, public projects and public expenditure programs. Macro and microeconomic aspects and impacts of public expenditures. Factors, which affects size, structure and dynamic of public expenditures.
5. Public revenues, classification of public revenues and other tax classifications. Public charges.
6. Tax theory introduction. Tax principles, tax justice, efficiency of taxes, tax transfer and impact.
7. Social security and causes of its formation. Social security tools. Social insurance.
8. Spatial aspects of public finances, fiscal federalism, fiscal decentralization
9. State economic policy. Short-term and long-term lost of fiscal balance.
10. Budgetary process in the Czech Republic.

Prerequisites

Fundamentals of microeconomics, macroeconomics and financing, tax structure overview.

Specification of controlled instruction, the form of instruction, and the form of compensation of the absences

Extent and forms are specified by guarantor’s regulation updated for every academic year.

Offered to foreign students

Not to offer

Course on BUT site

https://www.vut.cz/en/students/courses/detail/271082

Exercise

13 weeks, 3 hours/week, compulsory

Syllabus

1. Introduction into public finances, basic economic state functions.

2. Public goods and their classification.

3. Public expenditures.

4. Public incomes.

5. Introduction into tax theory.

6. Economic policy of the state.

7. Spatial aspects of public finances.

8. Public budgets.

9. Deficit of public budgets.

10. Credit test.