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Faculty: Shelby Chodos
The course provides an introduction to issues of financial management in state and local government. The class explores three interrelated areas: (1) raising revenues - including the trade-offs associated with establishing a sustainable tax base; (2) raising capital by borrowing in the capital markets; and (3) investing funds - in the context of both cash management and funding pension systems. Specific topics include: state and local tax policy, transit finance, school finance, privatization, economic development, debt management, and infrastructure finance. This course is policy focused and is not a substitute for courses in corporate finance, project finance, or the capital markets. The course is not intended to be a theoretical treatment of public finance, but was instead designed for students who desire a practical overview of real world challenges at the state and local level.