tailieunhanh - Lecture Public economics (5th edition) - Chapter 15: Fiscal policy

This chapter define fiscal policy and describe fiscal goals and instruments at the macroeconomic, sectoral and microeconomic levels; discuss the evolution of views on the macroeconomic role of fiscal policy, focusing on the distinction between the Keynesian and structural approaches and the choice between discretionary and rulesbased fiscal regimes; distinguish between the various definitions of budget balance and explain the economic significance of each;. | OXFORD UNIVERSITY PRESS SOUTHERN AFRICA Public Economics Chapter 15 Fiscal policy Oxford University Press Southern Africa Pty Ltd 2011 OXFORD UNIVERSITY PRESS Learning outcomes Define fiscal policy and describe fiscal goals and instruments at the macroeconomic sectoral and microeconomic levels Discuss the evolution of views on the macroeconomic role of fiscal policy focusing on the distinction between the Keynesian and structural approaches and the choice between discretionary and rules-based fiscal regimes Distinguish between the various definitions of budget balance and explain the economic significance of each. SOUTHERN AFRICA Oxford University Press Southern Africa Pty Ltd 2011 OXFORD UNIVERSITY PRESS Learning outcomes continued Explain the importance of distinguishing between a cyclical and a structural budget deficit and between active and passive fiscal policy Explain the fiscal consequences of the 2007-2009 international financial crisis and the ensuing Great Recession Describe salient features of fiscal policy in South Africa with reference to theory and against the backdrop of international experience and aspects of the performance of the South African economy Describe some of the features of fiscal reform in subSaharan Africa in recent years. SOUTHERN AFRICA Oxford University Press Southern Africa Pty Ltd .