Public finance is the study of the role of the government in the economy, assessing the government revenue and government expenditure of the public authorities and the adjustment of one or the other to achieve desirable effects and avoid undesirable ones. It is a branch of economics that emphasizes the function and role of government in the economy. Public finance is considered to be threefold, consisting of governmental effects on the efficient allocation of available resources, the distribution of income among citizens, and the stability of the economy.

Public finance is the management of a countrys revenue, expenditures, and debt load through various government and quasi-government institutions. The main components of public finance include activities related to collecting revenue, making expenditures to support society, and implementing a financing strategy (such as issuing government debt) . The U.S. Treasury is responsible for issuing debt, and when there is a deficit, the Office of Debt Management (ODM) will make the decision to sell government securities to investors.

Public finance is an important topic in policy-making and research. It affects peoples lives and can promote inclusive growth. Budgeting, accounting, and financial management concepts and techniques are central to the successful operation of government, nonprofit, and for-profit organizations.