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- Full title: Public Finance: A Contemporary Application of Theory to Policy, 12th Edition
- Edition: 12th
- Copyright year: 2021
- Publisher: Cengage Learning
- Author: David N Hyman
- ISBN: 9780357133002, 9780357133002
- Format: PDF
Description of Public Finance: A Contemporary Application of Theory to Policy, 12th Edition:
Develop a strong understanding of today’s public finance and public policy with the economics-oriented approach in Hyman’s PUBLIC FINANCE: A CONTEMPORARY APPLICATION OF THEORY TO POLICY, 12E. Popular author and respected economist Dr. David Hyman clearly illustrates the role government plays in today’s economy as he explains how and why the public sector makes decisions. This timely edition addresses public issues confronting the United States and other nations throughout the new millennium. You examine expenditure and tax topics as you develop the information-driven, analytical tools to understand major government policy and finance issues. Packed with current, real-world examples, this edition sparks lively discussion and debate with its coverage of hot topics, such as today’s national defense and homeland security, pollution rights, Social Security reform, federal tax reform and the Iraq war. Numerous study tools and exercises help sharpen your economic insights.Important Notice: Media content referenced within the product description or the product text may not be available in the ebook version.
Table of Contents of Public Finance: A Contemporary Application of Theory to Policy, 12th Edition PDF ebook:
About the AuthorPrefaceBrief ContentsContentsPart 1: The Economic Basis for Government ActivityChapter 1: Individuals and Government Individuals, Society, and Government Governments and Political Institutions The Allocation of Resources Between Government and Private use The Mixed Economy, Markets, and Politics Government Expenditures in the United States International View: How Much Government? The Share of Government Expenditure in Modern Economies The Structure of State and Local Government Expenditure Financing Government Expenditure in the United States Market Failure and the Functions of Government: How Much Government is Enough? Aging Populations: Implications for Public Finance Summary Internet Resources Appendix 1: Tools of Microeconomic Analysis Chapter 2: Efficiency, Markets, and Governments Positive and Normative Economics Normative Evaluation of Resource use: The Efficiency Criterion Markets, Prices, and Efficiency Conditions Market Failure: A Preview of the Basis for Government Activity Equity Versus Efficiency Public Policy Perspective: The Tax System and the Birthrate-An Example of Positive Economic AnalysisPositive Analysis Trade-off Between Equity and Efficiency Summary Internet Resources Appendix 2: Welfare Economics Chapter 3: Externalities and Government Policy Externalities: A Classification and Some Examples Internalization of Externalities Property Rights to Resource Use and Internalization of Externalities: The Coase Theorem Environmental Protection Policies in the United States Markets for Pollution Rights in Practice: Sulfur Dioxide Allowances, and Capping and Trading the RigGlobal Perspective: Global Pollution: Externalities That Cross Borders Summary Internet Resources Chapter 4: Public Goods Characteristics of Public Goods Public Policy Perspective: National Defense Spending in the United States Provision of Private Goods and Public Goods: Markets and Government The Demand for a Pure Public Good Efficient Output of a Pure Public Good Global Perspective: The Marginal Cost of the Persian Gulf War to the United States and How InternatiThe Free-Rider Problem Summary Internet Resources Chapter 5: Public Choice and the Political Process The Supply of Public Goods Through Political Institutions: The Concept of Political Equilibrium A Model of Political Equilibrium Under Majority Rule Uniqueness and Cycling of Outcomes Under Majority Rule The Political Process Public Policy Perspective: Public Choice in U.S. Cities: Do Political Institutions Matter? Political Parties and Political Equilibrium Voting on More than One Issue at a Time: Logrolling Public Policy Perspective: State Government Spending: Does the Size of the Legislature Matter? Special-Interest Groups and their Impact on Political Equilibrium Bureaucracy and the Supply of Public Output Summary Internet Resources Part 2: Government Expenditures and Policy in the United States: Selected IssuesChapter 6: Cost-Benefit Analysis and Government Investments The Budget Process Economic Analysis for the Budget Process: Achieving the Least-Cost Means of Accomplishing an AuthoriCost-Benefit Analysis Analysis of Government Investments: Cost-Benefit Analysis in Practice Public Policy Perspective: Cost-Benefit Analysis of the Job Corps Program Summary Internet Resources Chapter 7: Government Subsidies and Income Support for the Poor Poverty in the United States Public Policy Perspective: Changing the Poverty Threshold: When Are People Really Poor? Government Programs to Aid the Poor: The Basis and the Trade-Offs Government Programs of Assistance to the Poor in the United States Subsidies and Transfers to Individuals: Economic Analysis of Their Effects Medicaid and State Government Budgets: Skyrocketing Costs Subsidies to Housing and Food The Impact of Government Assistance Programs for the Poor on the Work Incentive of Recipients Programs with no Status Tests: The Negative Income Tax and Subsidies to the Working Poor TANF, Work, and Public Assistance: Welfare Reform in the United States Programs to Aid the Poor and the Distribution of Money Income in the United States Summary Internet Resources Chapter 8: Social Security and Social Insurance Social Security in the United States The Social Security Retirement System Social Security Replacement Rates Global Perspective: Social Security throughout the World: Trends toward Privatization Public Policy Perspective: Social Security and the Family: Some Anomalies in the Modern Age The Return to Workers: How do Pension Benefits Compare with the Taxes that Workers Pay? Demographic Change and the Future of Social Security Proposals to Reform Social Security: Maintaining Benefits versus Partial Privatization The Impact of Social Security on Savings and Work Incentives Global Perspective Social Security Pensions in the European Union Health Insurance for the Elderly: Medicare Unemployment Insurance Summary Internet Resources Chapter 9: Government and Health Care Characteristics of the U.S. Market for Health Care Public Policy Perspective: Why Worry about Growth in Health Care Costs? Governments and Health Care: Compensating for Market Failure Government Spending on Health Care in the United States Health Care Reform: Issues and Policies Universal Coverage Global Perspective: National Health Insurance and Health Services in Great Britain and Canada Summary Internet Resources Part 3: Financing Government ExpendituresChapter 10: Introduction to Government Finance Purpose and Consequences of Government Finance Principles of Taxation Global Perspective: Taxes and Tax Rates throughout the World How should the Burden of Government Finance be Distributed? Criteria for Evaluating Alternative Methods of Government Finance Alternatives to Taxation Public Policy Perspective: User Charges and Efficient Allocation of Resources to Transportation InfrGovernment Enterprise Public Policy Perspective: State Lotteries-A Government Enterprise with a Hidden Regressive Tax on GSummary Internet Resources Chapter 11: Taxation, Prices, Efficiency, and the Distribution of Income Lump-Sum Taxes: A Benchmark Standard for Comparison Global Perspective: The Lump-Sum Tax Takes Its Lumps in the United Kingdom The Impact of Taxes on Market Prices and Efficiency Further Analysis of Tax Incidence General Equilibrium Analysis of the Excess Burden and Incidence of Taxes Taxes, Government Expenditures, and the Distribution of Income Summary Internet Resources Appendix 11: The Excess Burden of Taxation: Technical Analysis Chapter 12: Budget Balance and Government Debt The Federal Budget Balance Public Policy Perspective: How Did the Deficit Get So Big in 2009? The Impact of Recessions and PublEconomic Effects of the Federal Budget Balance Government Debt Borrowing by State and Local Governments Burden of the Debt Global Perspective: Consequences of Uncontrolled Budget Deficit Growth: The Case of Turkey Sovereign Debt: Default Risk, Interest Rates, and Austerity Summary Internet Resources Part 4: Taxation: Theory and StructureChapter 13: The Theory of Income Taxation Comprehensive Income: The Haig-Simons Definition A General Tax on Comprehensive Income: Economic Effects of a Flat-Rate Income Tax Labor Market Analysis of Income Taxation Public Policy Perspective: The Incidence of Payroll Taxes in the United States Taxation of Interest Income and its Effect on Saving Market Analysis of Taxation on Interest and Investment Income Public Policy Perspective The Supply-Side Tax Cuts of the 1980s Summary Internet Resources Chapter 14: Taxation of Personal Income in the United States The Tax Base: Basic Rules for Calculating Taxable Income and Why Much of Income is Untaxed Tax Preferences Tax Preferences Under the U.S. Income Tax System Issues in Income Tax Policy Global Perspective: Income Taxes and Economic Growth How Progressive are Federal Income Taxes? Effective Average and Marginal Tax Rates Public Policy Perspective: Measuring the Progressivity of the Federal Personal Income Tax Summary Internet Resources Chapter 15: Taxation of Corporate Income The Tax Base: Measuring Business Income Separate Taxation of Corporate Income: Issues and Problems Global Perspective: Tax Treatment of Multinational Corporations Reduction in Corporate Tax Rates in 2018 and Other Changes in Taxation of Business Income Corporate Taxation throughout the World: International Comparisons Short-Run Impact of the Corporate Income Tax Long-Run Impact of the Corporate Income Tax Public Policy Perspective: A New Way to Tax Corporate Income-The Corporate Cash Flow Tax Incidence of the Corporate Income Tax Summary Internet Resource Chapter 16: Taxes on Consumption and Sales Consumption as a Tax Base Direct Taxation of Consumption: The Expenditure Tax A Comprehensive Consumption Tax Base A General Tax on Comprehensive Consumption Impact on Efficiency in Labor Markets Sales Taxes Turnover Taxes Value-Added Taxes Global Perspective: Current Use of the VAT Summary Internet Resources Chapter 17: Taxes on Wealth, Property, and Estates A Comprehensive Wealth Tax Base Assessment of Property Value A Comprehensive Wealth Tax Selective Property Taxes Tax Capitalization Capitalization and The Elasticity of Supply of Taxed Assets Property Taxation in the United States Public Policy Perspective: Capitalization of Property Tax Rate Differentials Land Taxes Property Transfer Taxes Summary Internet Resource Part 5: State and Local Government FinanceChapter 18: Fiscal Federalism and State and Local Government Finance Fiscal Federalism Global Perspective: Fiscal Federalism in the European Union Centralized Versus Decentralized Government Citizen Mobility and Decentralized Government The Theory of Taxation Within a decentralized System Variation in Fiscal Capacity Intergovernmental Fiscal Relations The Theory of Grants Matching Versus General-Purpose Grants: An Application of the Theory of Collective Choice Under MajoEducation Finance Summary Internet Resources GlossaryName IndexSubject Index