PUBLIC FINANCE AND FISCAL POLICY

Public finance is a section of microeconomics which is concerned with public revenue and public expenditure. It is therefore concerned with the various sources of public revenue and the different areas where the state spends money in order to achieve major objectives of national development.

BRANCHES OF PUBLIC FINANCE

Public finance consists of five (5) branches and these include;

1.     Public revenue

2.     Public debt/ borrowing

3.     Public expenditure

4.     Fiscal policy

5.     Financial administration.