Required Courses

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Author: Linda Boone
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3FDFOU*UFSBUJPOTJOUIF1VCMJD'JOBODJBM.BOBHFNFOU$VSSJDVMVN *T8IBU1SBDUJUJPOFST/FFE#FJOH5BVHIU Table 1. Top 10 Topics Covered in Core/Required Courses All Schools

%

Schools with Public Budget/Finance Specialization

Budget Execution Budget Analysis

67 66

Budget Execution Budget Reform

76 76

Budget Preparation/ Process/Cycle Performance Budgeting

66

Budget Analysis

69

Budget Analysis Budget Preparation/ Process/Cycle Performance Budgeting

66

69

Capital Budgeting/Planning 63

Budget Reform Capital Budgeting/Planning Politics of Public Budgeting Fund Accounting Intergovernmental Grants Sales Taxation

64 64 60 58 55 55

Budget Preparation/ Process/Cycle Performance Budgeting Capital Budgeting/Planning Market Failure Politics of Public Budgeting Break-even Analysis Cost-Benefit Analysis

69 66 66 62 62 62

Budget Execution Fund Accounting Politics of Public Budgeting Fiscal Federalism Budget Reform Sales Taxation

%

Schools without Public Budget/Finance Specialization % 63 63 63

61 61 58 58 55 55

Table based on responses from 67 institutions; 29 of responding institutions are categorized as having a specialization in public financial management, while the remaining 38 do not.

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 XJUIUIFBEEJUJPOPGmOBODJBMDPOEJUJPOBOBMZTJT'PSQSPHSBNTXJUIPVUTQFDJBM J[BUJPOT GPVSOFXUPQJDT QSPQFSUZUBYBUJPO JODPNFUBYBUJPO EFCUNBOBHFNFOU  BOEDPTUCFOFmUBOBMZTJT BSFJOUIFUPQUJNFTQFOUDBUFHPSZUIBUBSFOPUJO UIFUPQDPSFDPWFSBHFDBUFHPSZ(See Table 2.)

Table 2. Top 10 Topics by Time Spent – A lot (3-plus hours) or Quite a bit (1-3 hours) Overall

%

Specialization

%

Non-specialization

%

Capital Budgeting/Planning Budget Analysis Budget Execution Budget Preparation/ Process/Cycle Politics of Public Budgeting

49 48 46 43

Budget Analysis Budget Execution Capital Budgeting/Planning Cost-Benefit Analysis

52 52 45 45

Capital Budgeting/Planning Politics of Public Budgeting Performance Budgeting Budget Analysis

53 50 50 45

43

Debt Management

45

45

Property Taxation Performance Budgeting

42 42

45 41

Cost-Benefit Analysis Debt Management

40 39

Financial Condition Analysis Budget Preparation/ Process/Cycle Property Taxation Balance Sheet

Budget Preparation/ Process/Cycle Budget Execution Property Taxation

41 41

Cost-Benefit Analysis Income Taxation

37 34

Balance Sheet

36

Politics of Public Budgeting

34

Debt Management

34

42 42

Table based on responses from 67 institutions; 29 of responding institutions are categorized as having a specialization in public financial management, while the remaining 38 do not.



+PVSOBMPG1VCMJD"ąBJST&EVDBUJPO

3FDFOU*UFSBUJPOTJOUIF1VCMJD'JOBODJBM.BOBHFNFOU$VSSJDVMVN *T8IBU1SBDUJUJPOFST/FFE#FJOH5BVHIU Table 3. Top 10 Topics by Importance — Extremely or Very Important Overall

%

Specialization

%

Non-specialization

Budget Analysis Budget Preparation/ Process/Cycle Budget Execution

45 43

45 45

Politics of Public Budgeting 50 Budget Analysis 45

42

Budget Analysis Budget Preparation/ Process/Cycle Budget Execution

%

45

Politics of Public Budgeting Performance Budgeting Capital Budgeting/Planning Balance Sheet Property Taxation

42 40 37 36 36

Performance Budgeting Capital Budgeting/Planning User Fees and Charges Debt Management Cost-Benefit Analysis

38 38 38 34 34

Budget Preparation/ Process/Cycle Performance Budgeting Budget Execution Balance Sheet Property Taxation Fund Accounting

Fund Accounting User Fees and Charges

34 34

Intergovernmental Grants Politics of Public Budgeting

34 31

Revenue Forecasting 37 Capital Budgeting/Planning 37

42 42 39 39 39 39

Table based on responses from 67 institutions; 29 of responding institutions are categorized as having a specialization in public financial management, while the remaining 38 do not.

*NQPSUBODF ɨFmOBMRVFTUJPOGPSUIJTTIPSUQBQFSJTUIFGPMMPXJOH)PXEPUPQJDTSBUF JOUFSNTPGJNQPSUBODF "SFUIFUPQJDTUIBUJOTUSVDUPSTCFMJFWFUPCFJNQPSUBOU HJWFOUIFNPTUUJNFGPSDPWFSBHFJODMBTT (See Table 3.) -PPLJOHBUUIFUPQUPQJDTPSEFSFECZJNQPSUBODF XFDBOTFFUIBUUXP UPQJDT‰GVOEBDDPVOUJOHBOEVTFSGFFTBOEDIBSHFT‰SBOLJOUIFUPQGPS JNQPSUBODFBOEBSFOPUJOUIFUPQGPSUJNFTQFOUPSGPSDPWFSBHFJOSFRVJSFE DPVSTFTɨFCBMBODFTIFFUBOEUIFQSPQFSUZUBYBSFJOUIFUPQGPSPWFSBMMJN QPSUBODF CVUBSFOPUJOUIFUPQGPSDPWFSBHFJOSFRVJSFEDPVSTFTɨFCBMBODF TIFFUSBOLTUIJOUFSNTPGDPWFSBHFJOSFRVJSFEDPVSTFT BOEUIFQSPQFSUZUBY SBOLTUI(See Appendix 1.) ɨFUPQJNQPSUBOUUPQJDTGPSQSPHSBNTXJUIBTQFDJBMJ[BUJPOEJĊFSGSPNUIF PWFSBMMUPQ BOEBMTPIBWFTJHOJmDBOUEJĊFSFODFTGSPNDPSFUPQJDTDPWFSFEBOE UIFBNPVOUPGUJNFTQFOU6TFSGFFT EFCUNBOBHFNFOU BOEJOUFSHPWFSONFOUBM HSBOUTBSFBMMJOUIFUPQGPSJNQPSUBODF CVUBSFOPUGPVOEJOUIFPUIFSUPQ MJTUT8FTFFBTJNJMBSSFTVMUJOQSPHSBNTXJUIPVUBTQFDJBMJ[BUJPO3FWFOVFGPSF DBTUJOHBOEUIFCBMBODFTIFFUBSFOPXIFSFUPCFGPVOEBNPOHUIFPUIFSUPQ MJTUT(See Appendices 2 & 3.) $ĠğĔĝĦĕĚğĘ5ęĠĦĘęĥĤ ɨJTQBQFSIBTGPDVTFEPOJEFOUJGZJOHUIFDVSSFOUTUBUFPGDVSSJDVMVNJOQVCMJD mOBODJBMNBOBHFNFOU8FBTLFEXIFSFQVCMJDmOBODJBMNBOBHFNFOUDPOUFOU XBTCFJOHDPWFSFE IPXNVDIUJNFXBTCFJOHTQFOUPOEJĊFSFOUUPQJDT BOEIPX JNQPSUBOUXFSFFBDIPGUIFDPWFSFEUPQJDT0VSmOEJOHTJOEJDBUFUIBUDPVSTFTJO TJNJMBSUZQFTPGQSPHSBNTUFOEUPDPWFSTJNJMBSUPQJDT *OQBSUJDVMBS CVEHFUFYFDVUJPO CVEHFUBOBMZTJT CVEHFUQSFQBSBUJPOQSPDFTT  QFSGPSNBODFCVEHFUJOH DBQJUBMCVEHFUJOH BOEUIFQPMJUJDTPGCVEHFUJOHFBDI TIPXVQJOUIFUPQDBUFHPSJFT8FBMTPGPVOEUIBUGBDVMUZXIPUFBDIUIFTF +PVSOBMPG1VCMJD"ąBJST&EVDBUJPO



3FDFOU*UFSBUJPOTJOUIF1VCMJD'JOBODJBM.BOBHFNFOU$VSSJDVMVN *T8IBU1SBDUJUJPOFST/FFE#FJOH5BVHIU DPVSTFTIBWFTJNJMBSWJFXTBCPVUUIFJNQPSUBODFPGQVCMJDmOBODJBMNBOBHFNFOU UPQJDT "TOPUFEBCPWF UIFSFBSFTPNFEJĊFSFODFTJOUIFDPWFSBHF UJNFTQFOU BOE QFSDFJWFEJNQPSUBODFCFUXFFOQSPHSBNTXJUIBOEXJUIPVUBTQFDJBMJ[BUJPO8IZ XFPCTFSWFUIFTFEJĊFSFODFTSFNBJOTPQFOGPSEJTDVTTJPOBOETUVEZ*OTVNNBSZ  UIFSFTVMUTGSPNUIJTQBQFSJMMVTUSBUFUIBUNVDIPGXIBUXBTCFJOHUBVHIUZFBST BHPJTTUJMMCFJOHUBVHIUUPEBZɨFRVFTUJPOPGXIFUIFSUIJTJTBEJTDPVSBHJOH mOEJOHPSOPUNBZEFQFOEPOBOJOEJWJEVBMTQFSTQFDUJWF*GPOFTWJFXJTUIBU UIFBSFBPGQVCMJDmOBODJBMNBOBHFNFOUIBTOPUDIBOHFENVDIGSPNZFBST BHP UIFOUIJTSFTVMUJTOPUQBSUJDVMBSMZTVSQSJTJOHPSEJTDPVSBHJOH)PXFWFS JG POFCFMJFWFTUIBUUIFmFMEIBTDIBOHFEJOUFSNTPGXIBUJTBDUVBMMZIBQQFOJOH  UIFTFSFTVMUTNBZDBVTFTPNFDPODFSOɨFSFSFNBJOTUIFRVFTUJPOPGUIFNBUDI CFUXFFOQSBDUJDFBOEUIFPSZ



+PVSOBMPG1VCMJD"ąBJST&EVDBUJPO

3FDFOU*UFSBUJPOTJOUIF1VCMJD'JOBODJBM.BOBHFNFOU$VSSJDVMVN *T8IBU1SBDUJUJPOFST/FFE#FJOH5BVHIU

Non-specialization

1 3 3 3 1 6 8 16 12 16 12 12 31 6 31 23 23 16 16 23 12 8 8 16 8 16 23 43 16 31 23 23

Specialization

1 2 2 2 5 5 7 8 9 9 9 12 12 12 15 15 15 15 15 15 15 22 22 22 22 26 27 28 28 28 28 28

Topic

Overall

Specialization

Budget Execution Budget Analysis Budget Preparation/Process/Cycle Performance Budgeting Budget Reform Capital Budgeting/Planning Politics of Public Budgeting Fund Accounting Intergovernmental Grants Sales Taxation User Fees and Charges Bases of Accounting Fiscal Federalism Market Failure Debt Management Fiscal Policy Income Taxation Property Taxation Public Expenditures Revenue Forecasting Theories of Budgeting Break-even Analysis Cost-Benefit Analysis Expenditure Forecasting Tax Expenditures Time Value of Money Cash Management Auditing Balance Sheet Cash Flow Statement Financial Statement Analysis Intergenerational Equity

Non-specialization

Topic

Overall

Appendix 1. Ranking of topics covered in core courses, overall and by specialization

5 1 1 1 9 1 7 5 12 9 12 17 7 23 9 12 12 17 17 12 20 25 25 20 25 23 25 20 34 25 31 31

Revenue Administration Unemployment, Inflation, GDP Cost Measurement Financial Condition Analysis Government Financial Accounting Demand & Supply/Equilibrium Operating Statements Perfect Competition Personnel Budgeting The Federal Reserve Aggregate Demand & Supply Monetary Policy Political Economy Public Choice Social Welfare Pension Funding Social Insurance Consumer Theory Optimal Taxation Uncertainty/Risk Aversion Financial Information Systems Procurement Risk Management Asymmetric Information Producer Theory Labor Markets Theory of the Firm Asset Markets FIFO vs. LIFO Investment Analysis Nonprofit accounting Public School Finance

28 28 35 36 36 38 38 40 40 42 43 43 45 45 45 48 48 50 50 50 53 53 53 56 57 58 58 60 60 60 60 60

23 31 31 31 31 31 31 23 41 43 31 43 43 41 50 43 50 48 50 48 50 55 62 54 55 55 58 58 58 58 62 64

31 25 34 36 36 38 38 43 38 41 48 43 47 48 41 48 43 53 48 53 55 48 43 55 55 60 55 62 62 62 60 55

Table based on responses from 67 institutions; 29 of responding institutions are categorized as having a specialization in public financial management, while the remaining 38 do not.

+PVSOBMPG1VCMJD"ąBJST&EVDBUJPO



3FDFOU*UFSBUJPOTJOUIF1VCMJD'JOBODJBM.BOBHFNFOU$VSSJDVMVN *T8IBU1SBDUJUJPOFST/FFE#FJOH5BVHIU

Non-specialization

3 1 1 7 10 8 15 3 3 8 3 15 10 15 10 10 15 10 15 23 23 23 15 38 23 23 23 35 23 23 39 15

Specialization

1 2 3 4 5 6 6 8 9 10 11 12 13 14 14 14 14 18 18 18 18 22 22 24 24 24 24 28 28 30 31 31

Topic

Overall

Specialization

Capital Budgeting/Planning Budget Analysis Budget Execution Budget Preparation/Process/Cycle Politics of Public Budgeting Property Taxation Performance Budgeting Cost-Benefit Analysis Debt Management Balance Sheet Financial Condition Analysis Income Taxation Government Financial Accounting Revenue Forecasting Theories of Budgeting Financial Statement Analysis Budget Reform Time Value of Money Public Expenditures Nonprofit accounting Cash Flow Statement Cost Measurement Auditing Sales Taxation Revenue Administration Fund Accounting Cash Management User Fees and Charges Bases of Accounting Expenditure Forecasting Operating Statements Market Failure

Non-specialization

Topic

Overall

Appendix 2. Topics ranked by time spent teaching, overall and by specialization

1 4 6 4 2 6 2 8 10 11 22 9 11 11 18 18 11 22 18 11 11 18 22 11 22 22 22 22 30 32 22 36

Intergovernmental Grants Tax Expenditures Fiscal Federalism Fiscal Policy Demand & Supply/Equilibrium Unemployment, Inflation, GDP Break-even Analysis Investment Analysis Aggregate Demand & Supply Risk Management Public Choice Political Economy Public School Finance Monetary Policy Asset Markets Social Welfare Perfect Competition Consumer Theory Personnel Budgeting Theory of the Firm The Federal Reserve Social Insurance Procurement Producer Theory Optimal Taxation Pension Funding Labor Markets Financial Information Systems Uncertainty/Risk Aversion Intergenerational Equity Asymmetric Information FIFO vs. LIFO

33 34 34 34 34 38 39 40 40 42 42 42 45 45 45 48 48 48 51 52 52 52 52 56 56 56 56 56 61 62 62 64

23 42 32 15 39 32 42 42 35 57 39 42 47 35 32 50 57 57 42 47 47 50 50 57 57 50 50 50 50 62 62 62

36 30 36 43 32 40 32 36 43 32 48 43 43 59 59 43 40 40 53 53 53 48 48 48 48 53 53 53 59 59 59 64

Table based on responses from 67 institutions; 29 of responding institutions are categorized as having a specialization in public financial management, while the remaining 38 do not.



+PVSOBMPG1VCMJD"ąBJST&EVDBUJPO

3FDFOU*UFSBUJPOTJOUIF1VCMJD'JOBODJBM.BOBHFNFOU$VSSJDVMVN *T8IBU1SBDUJUJPOFST/FFE#FJOH5BVHIU

Non-specialization

1 1 1 10 4 4 10 10 18 4 18 7 10 10 23 10 26 18 7 7 10 18 10 30 18 39 30 23 23 29 26 26

Specialization

1 2 3 3 5 6 7 8 9 9 11 12 12 14 14 14 17 17 19 19 19 19 23 24 24 26 26 28 29 30 30 32

Topic

Overall

Specialization

Budget Analysis Budget Preparation/Process/Cycle Budget Execution Politics of Public Budgeting Performance Budgeting Capital Budgeting/Planning Balance Sheet Property Taxation Fund Accounting User Fees and Charges Revenue Forecasting Debt Management Operating Statements Expenditure Forecasting Public Expenditures Time Value of Money Bases of Accounting Cost Measurement Cost-Benefit Analysis Intergovernmental Grants Market Failure Nonprofit accounting Financial Statement Analysis Cash Management Financial Condition Analysis Cash Flow Statement Fiscal Federalism Break-even Analysis Auditing Income Taxation Sales Taxation Procurement

Non-specialization

Topic

Overall

Appendix 3. Topics ranked by importance, overall and by specialization

2 3 5 1 3 10 5 5 5 12 9 16 12 16 11 16 12 16 26 26 23 21 26 16 23 12 21 26 26 26 32 39

Revenue Administration Theories of Budgeting Government Financial Accounting Pension Funding Personnel Budgeting Risk Management Budget Reform Demand & Supply/Equilibrium Investment Analysis Uncertainty/Risk Aversion Tax Expenditures Unemployment, Inflation, GDP Fiscal Policy Public School Finance Aggregate Demand & Supply Political Economy Asset Markets Intergenerational Equity Monetary Policy Public Choice The Federal Reserve Optimal Taxation Perfect Competition Producer Theory Financial Information Systems Social Welfare Theory of the Firm Consumer Theory Labor Markets Asymmetric Information Social Insurance FIFO vs. LIFO

32 32 35 35 35 35 39 39 39 42 43 43 45 45 47 48 49 49 49 49 49 54 54 54 57 57 57 60 60 62 62 64

30 30 30 30 30 47 38 39 39 39 47 39 30 47 39 47 39 47 39 53 53 58 53 53 58 47 58 58 58 58 53 64

32 32 39 39 39 23 39 32 32 32 32 39 56 39 50 46 56 50 56 46 46 46 50 50 50 61 50 56 56 61 63 64

Table based on responses from 67 institutions; 29 of responding institutions are categorized as having a specialization in public financial management, while the remaining 38 do not.

+PVSOBMPG1VCMJD"ąBJST&EVDBUJPO



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