This course examines the use of fiscal and monetary policies to achieve socio-economic and political objectives. Topics include: the functions of public budgeting, Keynesian model and the monetary revision, budgetary process, revenue budgeting, expenditure budgeting, capital budgeting, concepts of taxation, protective strategies and counter strategies, interest and exchange rates issues, auditing and evaluation.

CILO-1: Build a foundation for thinking about the role of public finance in public policy formulation and public administration. CILO-2: Recognize some core theoretical concepts in public finance, including equity, efficiency, natural monopoly, public good, externality, monetary policy, New Public Management, and New Economic Geography. CILO-3: Apply the theoretical concepts from this course to explain the public policy in Macao, Hong Kong, and Mainland China. CILO-4: Conduct empirical study of public policy and social policy from the perspective of public finance.