Introduction to Public Finance

With the shift in the paradigm of the society, moving from a ‘police state’ to a ‘welfare state’, the importance of public finance has changed considerably. The importance of public finance could be viewed from the following angle: Taxation, Protection of Infant Industries, Provision Public Goods, Effects of a Market Economy, Redistribute of Income, Subsidies, and grants, Optimum utilization of resources, Economic planning, Providing employment opportunities. This book will introduce definition and the development of public finance, public expenditures, public revenues, taxes, public loans, public budget, the role of economic planning on nation’s development, and finally, the book will introduce the four markets economic systems.