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Local Finance

Course title

Local Finance


 FIN 430


Suzana Makreshanska Mladenovska, Ph.D.

Course objectives (competences): The main objective of the course is to teach students the basic principles of local government finance and fiscal decentralization. After completing the course, students should be able to: 

  • distinguish local from national public goods and services;
  • calculate optimal local supply of goods and services;
  • understand the pricing of local goods and services;
  • explain the objectives of fiscal decentralization and its benefits;
  • identify the role of local governments in the economy;
  • evaluate alternative local government revenue sources;
  • analyze the effects of grants and fiscal equalization;
  • discuss fiscal decentralization issues in Republic of Macedonia and
  • analyze local government budgets in the Republic of Macedonia.
Course content:
  • Government and market failures: externalities, public goods, natural monopolies
  • Demand and supply of local public goods and services
  • Price determination of local public goods: user fees
  • Local aspects of property taxes and tax capitalization
  • Fiscal decentralization: measurement and effects
  • Distribution of functions across levels of government
  • Distribution of revenue sources across levels of government
  • Fiscal equalization and grants
  • Local finance in the Republic of Macedonia
70 години

Во 2020 Економскиот факултет при Универзитетот “Св. Кирил и Методиј” во Скопје слави 70 години од своето основање.