Study guide

Purpose of these notes

Public finance explains how government raises money, spends it and manages the resulting obligations. These notes retain the eight modules of the supplied lecture material while combining repeated explanations. Study the relationships between revenue, expenditure, borrowing and service delivery.

Learning approach

For each topic, learn the definition, explain the main mechanism and apply it to a Nigerian example. When comparing policies, consider their effects on efficiency, fairness, economic stability and administrative capacity. A policy may improve one objective while making another harder to achieve.

Figures and examples

Numerical exercises are illustrative unless a date and source are supplied. Historical tax institutions and reforms are identified as such. Debt figures on page 44 refer to March 2025; they are not presented as current totals. Official sources for selected updates appear on page 80.

Examination preparation

Build answers around a clear argument supported by explained points. Distinguish related terms, show calculation steps and qualify claims that depend on economic conditions. Use the revision pages to test understanding after completing the modules.