INTRODUCTION AND WELCOME

Welcome to this module of public finance online. Public finance cover the theoretical foundation  of the market and market failure, the need for the public sector in a market economy, the functions of public finance in Kenya, fiscal institutions, the theory of private and public goods, fiscal expenditures and growth over time, public expenditure valuation methods including cost-benefit analysis, the structure of government revenue, taxation and tax system in Kenya, principles of taxation, types of taxes, merits and demerits, tax incidence and tax burden, taxable capacity, the economics of public debt, government budget and budget process. This will hopefully equip you with the knowledge and skill on how to handle day to day economic challenges and turn them to be opportunities of success in the economy