ECTS credits ECTS credits: 6
ECTS Hours Rules/Memories Student's work ECTS: 99 Hours of tutorials: 3 Expository Class: 24 Interactive Classroom: 24 Total: 150
Use languages Spanish, Galician
Type: Ordinary Degree Subject RD 1393/2007 - 822/2021
Departments: Applied Economics
Areas: Applied Economics
Center Faculty of Economics and Business Studies
Call: First Semester
Teaching: With teaching
Enrolment: Enrollable
Public Finance: Revenues and Expenditures is a compulsory subject in the Bachelor's degree in Economics, taught in the first semester of the third year. Its main objective is for students to acquire a solid understanding of the financial activity of the public sector, covering both public revenues and expenditures. The subject begins with a theoretical introduction on the historical background and the general principles that govern these two dimensions of public finance. Then, the main aspects related to spending programs, the public sector budget, types of revenues and their dimension, taxes, the requirements of a good tax system, and the analysis of taxes are analyzed and classified, with specific reference to financial activity in Spain.
1. The Public Sector as an Economic Agent and Its Organization
Definition, functions, and scope of the public sector. Levels of government and institutional structure.
2. The Public Budget
Concept, functions, and the budgetary cycle.
3. Public Intervention and Decision-Making
Market failures and justification for public intervention. Economic and political criteria in public decision-making.
4. Public Spending: Efficiency and Equity
Analysis of public expenditure. Assessment of its incidence, efficiency, and redistributive impact.
5. Public Sector Financing: Tax System and Basic Concepts
Sources of public financing. Structure and principles of a tax system.
6. Taxation: Incidence, Efficiency, and Equity
Economic analysis of taxes. Legal and effective incidence, effects on efficiency and equity.
7. Deficit and Public Debt. Fiscal Rules
Concepts of deficit and public debt. Causes, consequences, and regulatory frameworks for fiscal discipline.
Basic Bibliography:
Ayala et al. (2024). Economía del Sector Publico, Aranzadi, Madrid.
Supplementary Bibliography
Albi et al. (última edición): Economía Pública I y II, Ed. Ariel, Barcelona.
Corona, J. y Díaz, A. (2000). Introducción a la Hacienda Pública, Ed. Ariel, Barcelona
Fuentes, E. (1990). Hacienda Pública. Introducción y Presupuesto, Ed. Rufino García Blanco, Madrid
Gruber, J. (2005): Public Finances and Public Policy, Worth Publishers
López, M. Utrilla, A. (1998). Introducción al Sector Público Español. Ed. Civitas. Madrid
Musgrave, R.; Musgrave, P. (1999). Hacienda Pública Teórica y Aplicada, McGraw Hill, Madrid.
Rosen, H. (2007): Hacienda Pública, Ed. McGraw-Hill, Madrid. (7ª edición)
Stiglitz, , J.E. (2006): La Economía del Sector Público, Ed. Antonio Bosch, Barcelona
Supplementary Bibliography
For each topic, references to "further reading" materials will be provided through the virtual campus.
Basic Competences
CB2. Students should be able to apply the knowledge acquired to their work or vocation in a professional manner and possess the necessary competences usually demonstrated through the development and defense of arguments, as well as the resolution of problems within their field of study.
CB3. Students should have the ability to gather and interpret relevant data, usually within their field of study, in order to make judgments that include critical reflection on social, scientific, or ethical aspects.
CB4. Students should be capable of communicating information, ideas, problems, and solutions to both specialized and non-specialized audiences, using language appropriate to each context.
CB5. Students should develop the learning skills necessary to undertake further studies with a high degree of autonomy.
General Competences
CG2. Ability to develop and defend arguments on economic issues at a general level and to solve problems related to these issues by applying their knowledge of economic reality, theories, models, and scientific methods specific to economics.
CG5. Acquire general knowledge of economics and the learning skills necessary to continue studying and to undertake specialized studies in economics or related areas, with a high degree of autonomy and using techniques for data representation and presentation specific to the discipline.
Transversal Competences
CT1. Capacity for analysis and synthesis, applied to the understanding and approach of complex situations in the field of economics.
CT4. Ability to search for, select, manage, and use relevant information effectively from various sources.
CT6. Capacity to identify, formulate, and solve problems effectively, using appropriate methodologies and tools.
CT9. Development of autonomous learning, taking responsibility for one’s own educational process and being capable of organizing study and knowledge acquisition independently.
Specific Competences
CE1. Know and understand the nature of economics and how the economic environment operates, with special emphasis on public sector economics.
CE2. Master the knowledge and analytical and representation techniques specific to public sector economics.
CE3. Know and apply tools for analyzing public revenue and expenditure.
The teaching methodology combines various didactic strategies with the aim of facilitating learning. Lectures are used to present fundamental concepts and provide a solid theoretical foundation. These are complemented by practical and interactive sessions, along with supplementary activities that bring students closer to the practical and current reality of the public sector at the national, regional, and local levels. Additionally, case studies are used to analyze real situations and develop critical thinking skills. Finally, project-based or case-based learning is promoted, encouraging teamwork, problem-solving, and the direct application of theoretical content.
Students are required to use the virtual campus platform and Microsoft Teams, through which materials, tests, and other resources will be shared. For this purpose, the use of RAI and access to computer equipment are necessary (www.rai.usc.es/).
The assessment system will be continuous and will combine different tools to evaluate the degree of competence acquisition by the students. An exam will be conducted, consisting of various sections, including multiple-choice questions, open-ended questions, as well as problem-solving and practical exercises. Active participation in organized debates and systematic observation of academic performance throughout the course will also be taken into account, assessing the student’s engagement, critical thinking, and analytical skills. The relative weight of continuous assessment activities will be 30%, while the final exam will account for 70%.
WORK IN THE CLASSROOM Hours
Lectures 30
Interactive classes 18
Small group tutorials or single 12
Total working hours in the classroom 60
STUDENT PERSONAL WORK Hours
Individual self-study or group 50
Writing exercises, conclusions and further work 25
Other work in the computer 5
Further reading, library or similar activities 10
Total hours of personal work 90
It is recommended that students maintain continuous attendance of face-to-face sessions, paying special attention to the explanations provided by the teaching staff and actively participating in the proposed activities. It is essential to complement class content with the recommended readings, which help deepen the understanding of key concepts and contextualize theory in practice. Likewise, attendance at scheduled activities, such as conferences or seminars, will contribute to a broader and more applied understanding of the subject. The rigorous completion of assignments, exercises, and proposed tasks will allow students to consolidate the knowledge acquired, making this an essential element in the learning process and continuous assessment.
It should be noted that in cases of fraudulent completion of exercises or exams, the provisions set out in the Regulations will apply.
For the assessment of academic performance of students with an exemption status, an email must be sent to the course instructor indicating their personal details and the reason for the exemption.
Maria Cadaval Sampedro
Coordinador/a- Department
- Applied Economics
- Area
- Applied Economics
- Phone
- 881811664
- maria.cadaval [at] usc.es
- Category
- Professor: Temporary PhD professor
Xoaquin Maria Fernandez Leiceaga
- Department
- Applied Economics
- Area
- Applied Economics
- Phone
- 881811574
- xoaquin.fernandez [at] usc.es
- Category
- Professor: University Lecturer
Jaime Gaya Moreno
- Department
- Applied Economics
- Area
- Applied Economics
- jaime.gaya [at] usc.es
- Category
- Professor: LOSU (Organic Law Of University System) Associate University Professor
| Monday | |||
|---|---|---|---|
| 15:00-17:00 | Grupo /CLE_02 | Galician | Classroom 24 |
| Tuesday | |||
| 09:30-11:30 | Grupo /CLE_01 | Galician | Classroom 24 |
| Thursday | |||
| 09:30-11:00 | Grupo /CLE_01 | Galician | Classroom 24 |
| 15:00-16:30 | Grupo /CLE_02 | Galician | Classroom 24 |
| 01.15.2026 16:00-19:00 | Grupo /CLIS_04 | Classroom A |
| 01.15.2026 16:00-19:00 | Grupo /CLIS_02 | Classroom A |
| 01.15.2026 16:00-19:00 | Grupo /CLIS_03 | Classroom A |
| 01.15.2026 16:00-19:00 | Grupo /CLIS_01 | Classroom A |
| 01.15.2026 16:00-19:00 | Grupo /CLE_02 | Classroom A |
| 01.15.2026 16:00-19:00 | Grupo /CLE_01 | Classroom A |
| 06.22.2026 12:00-15:00 | Grupo /CLE_01 | Classroom B |
| 06.22.2026 12:00-15:00 | Grupo /CLIS_04 | Classroom B |
| 06.22.2026 12:00-15:00 | Grupo /CLIS_02 | Classroom B |
| 06.22.2026 12:00-15:00 | Grupo /CLIS_03 | Classroom B |
| 06.22.2026 12:00-15:00 | Grupo /CLIS_01 | Classroom B |
| 06.22.2026 12:00-15:00 | Grupo /CLE_02 | Classroom B |