Unit-I
Introduction to Public Finance : Nature, Scope and its Importance. 
Public Expenditure: Canons, Principle ofMaximum Social Advantage, Wagner’s Law, Wiseman Peacock Hypothesis. Causes for the Recent Growth of Public Expenditure in India. 
Taxation: Classification and Canons, Characteristics of a Good Tax System.
Unit-II
Incidence and Impact of Taxation : Demand and Supply Theory. 
Taxable Capacity : Absolute and Relative Capacity, Determinants of Taxable Capacity. 
Public Debt : Its types and Role, Burden of debt and Methods of its Redemption.
Deficit Financing : Objectives and Limitations. 
Unit-III
Pure Theory of International Trade : Classical and Heckscher - Ohlin Theories,  The Theory of  Reciprocal Demand.
Terms of Trade : Concept and Types 
Commercial Policy : Free Trade Vs. Protection, Regional Blocks: ASEAN, SAFTA Problems and prospects. Impact of W.T.O. on Less Developed Countries. 
Unit-IV
Balance of Payments: Meaning, Concept and Components of Balance of Payments. Disequilibrium in the Balance of Payments : Causes and Measures to corret the disequilibrium
Exchange Rate : Meaning and its Determination, Fixed Vs. Flexible Rate of Exchange and Purchasing Power Parity Theory.
IMF and IBRD : Objectives, Working and Achievements.