Why Management of Public Finance?

In the current pandemic periods, many governments are dealing with rising public debt and increasing tax burdens, which threaten the long-term sustainability of public finances. For these reasons, governments seek to manage public finance flows within or with the public sector as efficiently as possible, aided by the whole system and concept of public financial management. At the same time improving the system of Public financial management can be beneficial to foster societal changes and positive changes within the inclusive institutions, which leads to stronger state, reduced poverty, greater gender equality and balanced growth.


Course Title

Management of Public Finance

Lecturer Dipl. Ing. Matej Boór, PhD.
Load of the Course 20 teaching hours
Number of Credits 3

Learning Outcomes

  • Understanding of the theoretical underpinnings of public financial management, their methodological approaches and theoretical models
  • Knowledge of key analytical tools used in public financial management analysis Skills, attributes and competencies.
  • Ability to use formalised models
  • Ability to formulate own positions on fiscal and budget policy management issues and to argue them theoretically

Recommended Literature

  • Cangiano, M. (2013). Public Financial Management and Its Emerging Architecture. Washington, D.C.: International Monetary Fund.
  • Allen, A. Tommasi, D. (2001). Managing Public Expenditure: A Reference Book for Transition Countries. OECD, ISBN I80-85045-12-5
  • Pretorius, C. Pretorius, N. (2008) A Review of PFM Reform Literature. London: DFID
  • World Bank (2013). Beyond the Annual Budget: Global Experience with Medium-Term Expenditure Frameworks. Washington, DC: World Bank. © World Bank.

Interim Assessment

Assignments and Tasks

Final Assessment

Final report

Aim of the Course

To develop critical evaluation of the most important theoretical approaches and concepts of the use of instruments for public financial management with the focus on the issue of public debt management, cash and treasury management, fiscal risk management, public expenditure and revenue management, etc... The study of the course will enable students to become familiar with the current state of theory and policy in the field of public financial management, to build their ability to formulate their own approaches/positions on key topics and to apply their theoretical knowledge in the analysis of current issues at both national and supranational levels.

Course Contents

The course covers the various elements of public financial management in terms of models, tools, institutional coverage, etc.... in both theoretical and practical terms. It also focuses on the use and identification of best practices in the implementation of different public financial management systems in selected countries. From a practical perspective, the course examines the mechanics and implementation of a number of public financial management tools.


  1. Introduction to public financial management
  2. Management of public revenue
  3. Public expenditure management
  4. Fiscal rules
  5. Fiscal councils
  6. Medium-term budgetary framework
  7. Fiscal risk management
  8. Structural reforms of public finance
  9. Public financial management reform
  10. Public debt management
  11. Cash and treasury management
  12. Coordination of fiscal relations in monetary unions