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  • Public Finance ECO312: 04/13/2023 Department of Economics

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    Tapiwa Mabhandi
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    This document provides an overview of public sector economics and the role of government. It discusses that governments have scarce public resources and must make budgetary choices. It also notes that resource allocation is influenced by both market forces and government intervention for issues like market failure. Government operates at national, provincial and local levels, and allocates resources through both economic and political processes. Fiscal policy tools include taxation, expenditure, financing, and regulation. There are ongoing challenges around poverty, economic growth, and the scale and role of the public sector.

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    This document provides an overview of public sector economics and the role of government. It discusses that governments have scarce public resources and must make budgetary choices. It also notes that resource allocation is influenced by both market forces and government intervention for issues like market failure. Government operates at national, provincial and local levels, and allocates resources through both economic and political processes. Fiscal policy tools include taxation, expenditure, financing, and regulation. There are ongoing challenges around poverty, economic growth, and the scale and role of the public sector.

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    Download as PPTX, PDF, TXT or read online from Scribd
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    5 views12 pages

    Public Finance ECO312: 04/13/2023 Department of Economics

    Uploaded by

    Tapiwa Mabhandi
    This document provides an overview of public sector economics and the role of government. It discusses that governments have scarce public resources and must make budgetary choices. It also notes that resource allocation is influenced by both market forces and government intervention for issues like market failure. Government operates at national, provincial and local levels, and allocates resources through both economic and political processes. Fiscal policy tools include taxation, expenditure, financing, and regulation. There are ongoing challenges around poverty, economic growth, and the scale and role of the public sector.

    Copyright:

    © All Rights Reserved
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    of 12

    CHAPTER 1

    Public Finance ECO312

    04/13/2023
    DEPARTMENT OF ECONOMICS
    THE PUBLIC SECTOR AND THE
    ECONOMY
     PUBLIC RESOURCES SCARCE
     BUDGET CONSTRAINTS – HAVE TO MAKE
    CHOICES
     IMPACT OF PUBLIC SECTOR IN
    ALLOCATION OF RESOURCES
     MARKET SYSTEM  DEMAND & SUPPLY 
    PRICE DETERMINATION
     MARKET FAILURE BALLOT PAPER, TAX

    04/13/2023
    DEPARTMENT OF ECONOMICS
    LEVELS OF GOVERNMENT

     NATIONAL
     PROVINCIAL
     LOCAL
     FINANCIAL FLOWS THROUGH ALL
    SPHERES OF GOVERNMENT
     GOVERNMENT NOT PROFIT DRIVEN
     ENSURE EFFICIENCY AND EQUITY IN
    ALLOCATION OF RESOURCES

    04/13/2023
    DEPARTMENT OF ECONOMICS
     ALLOCATION OF RESOURCES A POLITICAL
    PROCESS

    04/13/2023
    DEPARTMENT OF ECONOMICS
    FISCAL CHALLENGES

     NEED EFFICIENT MANAGEMENT OF


    RESOURCES
     FREE SOME RESOURCES - PRIVATISE?
     WHAT KIND OF ECONOMIC SYSTEM?
     WHO OWNS RESOURCES?
     ANY PROPERTY RIGHTS?
     HOW TO DESIGN TAX SYSTEM?
     WHAT ABOUT PUBLIC DEBT
    ACCUMULATED DURING APARTHEID?
    04/13/2023
    DEPARTMENT OF ECONOMICS
    FISCAL CHALLENGES

     CENTRAL DECISION MAKING?


     POWERS GIVEN TO PROVINCES/LOCAL
    SPHERES?
     POVERTY, JOB CREATION REMAIN
    CHALLENGE
     MACOECONOMIC STABILITY AT LEAST
    ACHIEVED DURING POST APARTHEID
    SOUTH AFRICA

    04/13/2023 DEPARTMENT OF ECONOMICS


    THE STUDY FIELD OF PUBLIC
    ECONOMICS
     STUDY THE NATURE,PRINCIPLES &
    ECONOMIC CONSEQUENCES OF
    EXPENDITURE,TAXATION, FINANCING &
    REGULATORY ACTIONS
     ULTIMATE OBJECTIVE TO IMPROVE THE
    WELL BEING OF THE PEOPLE

    04/13/2023
    DEPARTMENT OF ECONOMICS
    MAIN AREAS OF DECISION MAKING

     EXPENDITURE
    INSTRUMENTS OF FISCAL
     TAXATION POLICY
     FINANCING
     REGULATION
     SPEND TAX ON PRIMARY HEALTH CARE
    BUT BORROW TO BUILD IRRIGATION DAM
     REGULATION  ENACT LAWS
     TAXATION  INCOME TAX ETC

    04/13/2023
    DEPARTMENT OF ECONOMICS
    POSITIVE VS NORMATIVE
    ECONOMICS
     ECONOMIC CONSEQUENCES OF
    DECISIONS
     DEVELOPMENT CRITERIA

    04/13/2023
    DEPARTMENT OF ECONOMICS
    VIEWS ON THE ROLE OF THE STATE

     INDIVIDUALISTIC VIEW
     PUBLIC INTEREST/COLLECTIVE VIEW
     INDIVIDUALISTIC VIEW  EFFICIENCY OF
    RESOURCE ALLOCATION/ECONOMIC
    GROWTH
     COLLECTIVE VIEW  EQUITY, POVERTY
    REDUCTION, MAXIMISE WELFARE OF THE
    SOCIETY

    04/13/2023
    DEPARTMENT OF ECONOMICS
    DEVELOPMENTAL STATE

     PRESIDENT MBEKI PROPAGATED THIS


    MODEL
     DEVELOPMENT ELITE
     POWERFUL ECONOMIC BUREAUCRACY
     WEAK & SUBORDINATE CIVIL SOCIETY
     EFFECTIVE MANAGEMENT OF NON-STATE
    ECONOMIC INTEREST

    04/13/2023
    DEPARTMENT OF ECONOMICS
     NGOS
     PUBLIC ENTITIES  ALL INCLUDED IN
    PUBLIC SECTOR ECONOMICS

    04/13/2023
    DEPARTMENT OF ECONOMICS

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