Demonstrate an understanding of government taxatio

Demonstrate an understanding of government taxation and expenditure

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Public Finance

Learning outcomes evidenced by this assignment

1. Demonstrate an understanding of government taxation and expenditure
   
   
2. Analyse linkages between taxation, tax avoidance and expenditure.
   
   
3. Demonstrate an understanding of the economic framework of government activity and how it influences economic activity.
   
   
4.  Develop a nuanced view of public policy and its consequences for the national economy as well as its international impact

Details of the task

You are required to answer all of the following questions:

1. Explain Pareto efficiency and discuss the weaknesses of Pareto efficiency.(400 words)
   
   
2. Evaluate Lindhal’s solution for voluntary financed goods. Discuss how the Clarke’s tax can be implemented for people to report their benefits from public good voluntarily. (500 words)
   
   
3. Discuss why market failure occurs when externalities arise causing market price to diverge from social costs and outline some solutions that can be implemented to deal with the impact of externalities. (500 words)
   
   
4. Explain the difference between a progressive tax and a proportional tax. Discuss why individuals and firms should pay taxes and evaluate how just the UK tax system is. (600 words )
   
   
5. Outline what a Lorenz curve is and explain the significance of the Gini coefficient. Discuss the characteristics of those on low income. Evaluate the policies that can be implemented to reduce income inequality and poverty. (500 words )

Discuss the rationales for government involvement in health care. Discuss the problems of moral hazard and adverse selection within health insurance markets.