Course topics:

The curriculum gives a comprehensive picture on the connection of public politics and the functioning of public finance, the audit of ensuring resources and of the realization of the expenditures – the financing of the central budget.

1. The economic role of the state and public politics; the most important substantive and direct goals of the fiscal policy and the related public funds and their management; the institutional system of public funds’ managements and the basic criteria of transparency and accountability of the financial operation.
2. Organizational arrangements, patterns of public financial management. Institutions active in public financial management, their operation, and the financing and control mechanisms. The operation of public financial management and of public finance in the current financial-economic crisis, and their role in mitigating the adverse social and economic impacts of the crisis;
3. Responsibilities and assigned tasks in the context of managing public property and implementing public services and development projects under PPP arrangements (with public and private funds and a mixed ownership structure)
4. Funding the operation of the political institutional system and the organizations in the non-governmental sector (political parties, classic NGOs and foundations) and the respective auditing practice.

Aims:

The aim of the course is to introduce students to the basic concepts of public finance and to the system of the state budget, with special emphasis on the relationship between fiscal and different departmental policies.

Cullis J. – Jones P. (1998): Public Finance and Public Choice, Oxford University Press, ISBN: 978-0198775799

Stiglitz, J. E. (2010): Economics of the Public Sector, W. W. Norton & Company, ISBN: 978-0393966510

Barr, N. (2004): Economics of the Welfare State, Oxford University Press, ISBN: 978-0199297818

Langdana, F. K. (2002): Macroeconomic Policy: Demystifying Monetary and Fiscal Policy, Springer, ISBN: 978-1441945969