Lesson: Components of Public Finance Economics • Third Year of Secondary School

In this lesson, we will learn how to identify public (government) expenditure, revenue, and budget as components of public finance.

Lesson Plan

Students will be able to

understand the main classifications of public finance, which are public expenditures, public revenues, and the public budget,
understand the role of political democracy in regard to public finance,
understand the definition and characteristics of public expenditure,
understand sources of public revenue, such as state-owned enterprises, public debt, fees, and taxes,
understand the following canons of taxation: equity, economy, certainty, and convenience,
distinguish between different types of taxes: head versus income taxes, proportional versus progressive taxes, and direct versus indirect taxes,
understand the definition and characteristics of the public budget and the process of creating and approving the budget,
understand the following principles of the public budget: annuality, unity, universality, and budget balance.