Build a strong understanding of today's public finance and public policy with the economics-oriented approach in Hyman's PUBLIC FINANCE: A CONTEMPORARY APPLICATION OF THEORY TO POLICY, 12E. Popular author and respected economist Dr. David Hyman clearly illustrates the role government plays in today's economy as he explains how and why the public sector makes decisions. This timely edition addresses public issues confronting the United States and other nations throughout the new millennium. You examine expenditure and tax topics as you develop analytical tools to understand major government policy and finance issues. Packed with current, real examples, this edition sparks lively discussion and debate with its coverage of hot topics, such as today's national defense and homeland security, pollution rights, Social Security reform, federal tax reform and the Iraq war. Numerous study tools and exercises help you sharpen your economic insights.
PART I: THE ECONOMIC BASIS FOR GOVERNMENT ACTIVITY.
1. Individuals and Government.
2. Efficiency, Markets, and Governments.
3. Externalities and Government Policy.
4. Public Goods.
5. Public Choice and the Political Process.
PART II: GOVERNMENT EXPENDITURES AND POLICY IN THE UNITED STATES: SELECTED ISSUES.
6. Cost-Benefit Analysis and Government Investments.
7. Government Subsidies and Income Support for the Poor.
8. Social Security and Social Insurance.
9. Government and Health Care.
PART III: FINANCING GOVERNMENT EXPENDITURES.
10. Introduction to Government Finance.
11. Taxation, Prices, Efficiency, and the Distribution of Income.
12. Budget Balance and Government Debt.
PART IV: TAXATION: THEORY AND STRUCTURE.
13. The Theory of Income Taxation.
14. Taxation of Personal Income in the United States.
15. Taxation of Corporate Income.
16. Taxes on Consumption and Sales.
17. Taxes on Wealth, Property, and Estates.
PART V: STATE AND LOCAL GOVERNMENT FINANCE.
18. Fiscal Federalism and State and Local Government Finance.
Glossary.
Name Index.
Subject Index.
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David N Hyman
David N. Hyman, professor of economics and alumni distinguished undergraduate professor at North Carolina State University, has taught both undergraduate and graduate courses in public finance for more than 30 years. Dr. Hyman received his Ph.D. in economics from Princeton University. He has held Woodrow Wilson, Earhart and Ford Foundation fellowships and was a Fulbright senior research scholar in Italy. He has served as a visiting research professor at the University of Turin in Italy and as visiting professor of economics at the University of Ferrara in Italy. Dr. Hyman is a member of the Academy of Outstanding Teachers at North Carolina State University and received the Alumni Association Outstanding Teacher Award in 1982 and 1996. In 2006 and 2019, he also received the North Carolina State University Department of Economics College of Management Teaching Excellence Award. In 2010 and 2012, Dr. Hyman was the College of Management recipient of the Board of Governors Award for Excellence in Teaching. He has authored several popular economics texts and has published scholarly articles in the National Tax Journal, Public Choice, Journal of Economic Education and other respected academic journals. In 2005, his PUBLIC FINANCE text was translated into Chinese and published by the Peking University Press. Dr. Hyman served on the President’s Council of Economic Advisers as a consultant and senior staff economist. He has also been a guest scholar at the Brookings Institution and has worked as a government budget analyst and economist for the Board of Governors of the Federal Reserve System and the U.S. Comptroller of the Currency. In addition, Dr. Hyman is a photographer whose palladium and platinum prints are in the Corcoran Legacy Collection at the American University Museum in Washington, D.C. and the Gregg Museum of Art and Design at North Carolina State University.
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THIS EDITION BALANCES COVERAGE OF TODAY'S GOVERNMENT EXPENDITURE AND CURRENT TAX TOPICS. Students develop the informative and analytical tools needed to understand today's government policy and finance.
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STRONG ORGANIZATION AND CAREFUL EXPLANATIONS CLARIFY EVEN COMPLEX ISSUES. This text is recognized for its clarity, even when presenting today's most complex policy-related issues. This approach, delivered by respected author and economist Dr. David Hyman, is trusted by hundreds of colleges and universities in the United States and throughout the world.
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CURRENT EXAMPLES AND APPLICATIONS OF GOVERNMENT POLICIES BLEND WITH THIS EDITION'S CAREFULLY DEVELOPED THEORY. Students gain an understanding of the theory behind public policy and public finance as they examine numerous examples drawn from today's government institutions. Students also work with this edition's up-to-date practical applications, designed to illustrate key economic points.
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UPDATES HIGHLIGHT THE LATEST GOVERNMENT STATISTICS AND TODAY'S MOST RECENT SCHOLARLY RESEARCH. This edition focuses on many of today's most pertinent topics, including issues relating to aging of the population and Social Security as well as the impact of health care reform, government budget deficits and recent changes in income and corporate profit taxation in the United States.
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NEW COVERAGE EXAMINES THE IMPACT OF THE TAX CUT AND JOBS ACT (TCJA) OF 2017. Students review how the TCJA of 2017 has continued to influence policy and finances. This edition also discussed other relevant tax reform and policy changes and their ongoing impact.
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THIS EDITION OFFERS A UNIQUE, INTRIGUING VIEW INTO PUBLIC POLICY TODAY AND IN THE YEARS AHEAD. The author details policy and finance issues that will confront the United States and other nations throughout the new millennium. Students examine key topics related to public finance and taxation, including indifference curve analysis, producer and consumer surplus and tax incidence.
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PRACTICAL APPROACH PRESENTS CRITICAL CONCEPTS IN THE CONTEXT OF REAL ISSUES OCCURRING RIGHT NOW. Unlike other texts that focus primarily on policy issues, author Dr. Hyman emphasizes the economic theory of public goods and how best to provide them today. He builds in applications to illustrate key economics points and reviews timely topics, such as national defense and homeland security, health care, pollution rights, Social Security reform and federal tax reform.
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THIS EDITION TAKES A SOLID ECONOMICS-ORIENTED APPROACH TO PUBLIC FINANCE AND PUBLIC POLICY. Students gain a balanced view of both the revenue and expenditure sides of taxes and public goods. This provides a comprehensive understanding of economics affect public policy issues.
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NUMEROUS CURRENT, REAL EXAMPLES AND ISSUES ENGAGE READERS AND PROMPT DISCUSSION AND DEBATE. Captivating Public Policy Perspectives address current issues in the news and how these issues impact public finance now and in the future. In addition, Global Perspectives boxes compare different taxing and public goods delivery systems, giving students an excellent overview of today's global markets.
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EFFECTIVE STUDY TOOLS HELP READERS REVIEW MATERIAL AND FOCUS ON KEY CONCEPTS. This edition includes Learning Objectives and Student Checkpoints to ensure comprehension. In addition, Chapter Summaries and Looking Forward sections highlight upcoming topics and Key Concepts strengthen the book's clear organization. Review Questions, End-of-Chapter Problems, Internet Resources and Additional Readings provide additional opportunities to master material and expand readers' understanding.
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