Fall 2012 - 62385 - PA391 - Public Financial Management
|Instructor(s):|| Gamkhar, Shama
|Day & Time:||T 9:00 am -12:00 pm|
|Waitlist Information:||For LBJ Students: UT Waitlist Information|
|Final Exam Information:||December 14, 2012 - 9:00am - 12:00pm SRH 3.122|
This course provides a basic understanding of the financial activities of governments at all levels in the United States. It is usually taken during the first year. The course acquaints students with the purposes, characteristics, processes, and operations of financial management systems and develops their capabilities to analyze financial operations, coordinate such operations with relevant public policies and programs, and effectively manage the financial resources of public entities. Topics in the course include: the economic, political, and administrative environment of financial management systems and operations; budgeting theory and practice--including program and performance budgets; accounting and internal control; financial reporting; auditing--financial and performance; debt management; treasury and cash management; and revenue/tax administration.
This course is an introduction to the theory and practice of public financial management at all levels of government. The objective of this course is to develop student capabilities in the analysis of financial operations and the management of public sector financial resources. The main tools taught in this course include: how to write a performance budget statement, perform cost evaluations of projects, read and interpret basic financial market data, read a government financial statement and evaluate financial health, how to file your taxes (taxpayer’s perspective) or tax administration at different levels of government (government perspective). The course also offers an interdisciplinary approach to public sector financial management and several policy oriented discussion forums. The course format will primarily be a combination of lectures, discussions and student presentations.
The course will cover the principles of finance, economics, accounting and fiscal administration that are relevant to the understanding of financial functions and financial management in the public sector. The specific areas covered include: (1) Structure and administration of selected taxes; (2) Municipal bond market –valuation of the price of bond and, their yields, credit rating and the bond issuance process; (3) Public budgeting - the budgetary process, politics and reforms (including performance budgeting) and; (4) Financial accounting, reporting and analysis of financial statements. Additional areas may be included on the basis of student interests.
The classes will involve discussion of key concepts in the readings, but mostly relevant applications of the course material, homework assignments, case study/group projects and exams. There will be a weekly tutorial session where the homework assignments and material considered pre-requisites for the class and materials covered in class will be reviewed. Attendance at tutorials is strongly recommended.