public finance

Noun

public finance (uncountable)

1. A field of economics concerned with paying for collective or governmental activities, and with the administration and design of those activities.
   • 2000, John M. Quigley, Eugene Smolensky, editors, Modern Public Finance, Harvard University Press, →ISBN, page 2:

     Moreover, the formulation of the model serves as a blueprint for the incorporation of modern notions of labor economics in public finance.