PADP 6930 Public Financial Administration

Market Failure. Information Economics. Market vs. Government Failure. Pareto Optimality. Kalder-Hicks Optimality. Institutional Failure. Tiebout Competition. Privatization of Public Goods. Agency Theory (Principal-Agent Issues). Adverse Selection. Moral Hazard. Transaction Costs Economics. Provision...

What is Budgeting? Constraints of Fiscal Administration. Volatility. Budgeting History. Functions of Budgeting. Budget Structure. Administrative, Economic, and Functional Approaches. Budget Cycle. Budget Strategies. Government Expenditure.

Simple Forecasts. Annual Growth Rates. Preparation of Agency Budget Requests. Budget Instructions. Budget Proposal. Elements of Cost Estimation. Classification Structures. Personnel Costs. Non-Personnel Costs. The Executive Budget. Fiscal Sustainability. Budget Reductions. Appropriation. Feedback Co...

Fiscal Conditions and Controls. Net Saving Measure. Budget Features. Dual Budget System. Budget Balancing Tricks. Differences from Budgeting by the National Government.

Interest Rate. Discounting vs. Compounding. Opportunity Cost. Simple vs. Compound Interests. Risk-Free Rate. Equivalent Annual Return (EAR). Determinants of Interest Rates for Individual Securities. Future Values. Present Values

Market Segmentation Theory. Benefit-Cost Ratio. Economic Efficiency. Sensitivity Analysis. Capital Budgeting.

Criteria for Analyses. Expenditure Analysis. Revenue Analysis. Consumer Price Index (CPI). Debt Analysis. Nominal vs. Real. Concentration vs. Diversity. Herfindahl-Hirschman Index (HHI). Budget Quality. Budget Formats

Executive Preparation. Executive Budget. Top-Down Approach. Types of Budgets. Zero-Based Budgeting. Legislative Consideration. Appropriation Acts. Committees.

Phases of Federal Budget Cycle. Legislative Review. Execution & Service Delivery Phases. Audit & Evaluation.

Subcommittees. Committees. Chambers. Congress. President.

20 Multiple Choice. Topics: Market Failure Benefit-Cost Analysis --> Present and Future Values, Annuities & Single Cash Flow. Net Profit Value, Benefit-Cost Ratio, Interest Return Rate, Payback Values Compounding Periodicity

Basic Definitions. Kalder-Hicks Optimality. Tiebout Competition. Markets. Market Failure. Public Goods. Non-Rivalry & Non-Excludability. Externalities. Incomplete Market with Imperfect Information. Investment Decisions (IRR, NPV, BCR). Payback Period. Relationships between NPV, BCR, IRR, & Discount ...