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PUB 205: Public Finance and Budgeting

Course Description

This course introduces public administrators to the basic principles of public finance and the rigors of public budgeting. This course will familiarize students with capital and operating budgets, public borrowing and bonding, the typical public budgeting process, and the relationship between policy-making and resource allocation.

Prerequisite

  • ENG 101: English Composition 1

Student Learning Outcomes (SLOs)

Students who successfully complete this course will be able to:

  1. Understand the role of government in the economy including the provision of certain goods and services due to market failure, externalities, and public goods.
  2. Develop an understanding of the political context of government budgeting and finance.
  3. Explain the typical budget process, cycle, and institutions.
  4. Understand general spending patterns of the federal government and state and local governments.
  5. Describe different budget formats such as traditional, performance, program, and zero-based budgets.
  6. Understand capital budgets and capital project funding options.
  7. Differentiate between the major sources of government revenue including income, consumption, and property taxes.
  8. Examine alternate sources of government revenue such as user fees, user charges, and sales by public monopolies.
  9. Understand the administrative aspects of public revenue systems (collection costs, audit, appeal, enforcement).
  10. Identify issues surrounding and various techniques used to develop revenue forecasts, revenue estimates, and tax expenditure budgets.
  11. Understand the complex relationship between the federal, state, and local governments to provide and fund goods and services both independently and cooperatively.

General Education Outcomes (GEOs)

Please check the applicable GEOs for this course, if any, by outcomes at GEO Category Search, or by subject area at GEO Discipline Search.

Course Activities and Grading

AssignmentsPointsWeight

Discussions (Weeks 1-8)

80

80%

Written Papers (Weeks 3 & 7)

20

20%

Total

100

100%

Required Textbooks

(Available through Charter Oak's online bookstore)

  • Mikesell, John L. Fiscal Administration: Analysis and Applications for the Public Sector. 9th ed. Belmont, CA: Wadsworth Publishing Company, 2014. ISBN-10: 1-133-59480-8 or ISBN-13: 978-1-133-59480-2

Additional Resources

  • The budget and other related documents of a municipality of your choice (for the Municipal Budget Project).

Course Schedule

Week

SLOs

Readings and Exercises

Assignments

1

1,2

Topic: Introduction to Public Finance

  • Reading:
    • Lecture
    • Mikesell, Chapter 1
  • Read assigned chapters
  • Participate in the Discussions
  • Review the Lecture material

2

2,3,4

Topic: Budget Process, Structures, and Institutions

  • Reading:
    • Lecture
    • Mikesell, Chapters 2 -4
  • Read assigned chapters
  • Participate in the Discussions
  • Review the Lecture material

3

2,3,5

Topic: Budget Methods, Classifications, and Reform

  • Reading:
    • Lecture
    • Mikesell, Chapters 5 & 6
  • Read assigned chapters
  • Participate in the Discussions
  • Review the Lecture material
  • Submit Written Paper 1

4

2,6

Topic: Capital Budgets and Debt Administration

  • Reading:
    • Lecture
    • Mikesell, Chapters 7 &15
  • Read assigned chapters
  • Participate in the Discussions
  • Review the Lecture material

5

2,7, 9

Topic: Introduction to Revenue Sources:Income Taxes

  • Reading:
    • Lecture
    • Mikesell, Chapters 8 & 9
  • Read assigned chapters
  • Participate in the Discussions
  • Review the Lecture material

6

2,7

Topic: Revenue Sources, Cont.: Taxes on Goods and Services and Property Taxes

  • Reading:
    • Lecture
    • Mikesell, Chapters 10 & 11
  • Read assigned chapters
  • Participate in the Discussions
  • Review the Lecture material

7

2,8

Topic: Other Revenue Sources

  • Reading:
    • Lecture
    • Mikesell, Chapter 12
  • Read assigned chapters
  • Participate in the Discussions
  • Review the Lecture material
  • Submit Written Paper 2

8

2,10,11

Topic: Revenue Forecasts and Intergovernmental Fiscal Relations

  • Reading:
    • Lecture
    • Mikesell, Chapters 13 &14
  • Read assigned chapters
  • Participate in the Discussions
  • Review the Lecture material
  • Complete Evaluation

COSC Accessibility Statement

Charter Oak State College encourages students with disabilities, including non-visible disabilities such as chronic diseases, learning disabilities, head injury, attention deficit/hyperactive disorder, or psychiatric disabilities, to discuss appropriate accommodations with the Office of Accessibility Services at OAS@charteroak.edu.

COSC Policies, Course Policies, Academic Support Services and Resources

Students are responsible for knowing all Charter Oak State College (COSC) institutional policies, course-specific policies, procedures, and available academic support services and resources. Please see COSC Policies for COSC institutional policies, and see also specific policies related to this course. See COSC Resources for information regarding available academic support services and resources.