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The study of government actions impacting the economy and the ways through which government can step in to improve social welfare is defined as public economics. The concepts of study included in public economics are government spending, taxation, public goods, income redistribution and market failures. Public economics context indicates high value and importance in understanding the actions of government influencing the economy. Reflecting on public economic assignments, they are quite complex due to the inherent difficulty with the analysis of government policies. Public economics deals with several topics from taxation policies and government expenditures to public goods and provides a book of mixed theoretical concepts and practical applications.
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