Fiscal policy - objectives, instruments and effectiveness 2400-ENSM106A

. Public revenue (types of public revenue, classification of taxes and tax collection techniques, specific role of tax progression, distribution of the tax burden, optimal direct and indirect taxation, tax systems in the European Union and other countries)
2. Public expenditure (types of public expenditure, growth of public expenditure, Wagner's law, Peacock-Wiseman hypothesis, conditions for efficiency of public expenditure, impact of public expenditure on the private sector, public expenditure as an instrument of income redistribution)
3. State budget (budgetary principles and implementation of the state budget, accounting for the execution of the state budget, the course of the budget cycle, budget balance factors, mechanism of budget deficit formation)
4. Budget deficit and public debt (types of budget deficit, types of public debt, causes of public debt, public debt instruments, public debt dynamics and public debt management, limits to public debt, cost of servicing public debt)
5. Fiscal policy (objectives of fiscal policy, instruments of fiscal policy, criteria for assessing the effectiveness of fiscal policy, fiscal policy and social security systems, fiscal policy and population ageing, fiscal stabilisation policy, Ricardian equivalence concept, Haavelmo's theorem, relationship between fiscal policy and monetary policy)
6. Fiscal policy in the face of globalisation (changes in the structure of public revenue and expenditure as a consequence of international economic integration: the example of the EU, harmonisation of direct and indirect taxes in the EU, tax competition between integrated economic areas, state fiscal policy and the competitiveness of the economy, tax avoidance and tax evasion phenomena in the age of globalisation, consequences of the globalisation of financial markets for public debt management)