Public Finance and Fiscal Policy – S6 Economics Notes

These Senior Six Economics notes cover public finance and fiscal policy. They start by defining public finance and its four parts: public revenue, public expenditure, national debt and the national budget. Learners study why governments need public finance and how it supports development. The notes cover the objectives and makeup of government spending in Uganda, the principles of public expenditure and the difference between recurrent, development and transfer spending. They also explain what drives public spending up, what that does to the economy, and how spending can be cut. Later sections look at tax and non-tax sources of revenue, including fees, fines and grants, and how fiscal policy is used to manage the economy.