Fall 2016 - 60850 - PA391 - Public Financial Management

This course is an introduction to the theory and practice of public financial management primarily at the state and local level. The objective of the course is for students to develop an: understanding of public sector financial resources; ability to analyze financial data and reports; and to interpret/connect this information in the context of public policy and management decisions. The course format will be a combination of lectures, discussions and group presentations.

The course will cover the principles of finance, budgeting, and accounting as they are needed in the practical application of financial policy and management decisions. Specifically the course will address:

1) Budgets - purpose, process and uses; 2) Financial Reporting - balance sheets, income statements, and financial condition analysis; 3) Financial Resources - taxes and non-tax sources of revenues; 4) Debt and Investment Management - tools, applications, and risk evaluations. 

REQUIREMENTS AND EXPECTATIONS

Students are expected to attend all classes. The class format will consist of lecture, group discussion, and guest lecturers. The course grade will be based on the following items: i) Class Participation, ii) 3 Problem Sets, iii) Mid-term Exam, iv) Final Exam, and v) Group Project (consisting of an in class presentation and 5 – 10 page written report).

READINGS

Students will not be required to buy a text book. All readings will be available on Canvas. The primary text book for the course is: Mikesell, John L., Fiscal Administration: Analysis and Applications for the Public Sector, Ninth Edition. Wadsworth, 2014.