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0:00
Hi, everyone.
My name is Sanjay Raja,
and I'm an economist based
in London, UK,
specializing predominantly
in macro and micro policy.
The topic that we are
going to look at today
is on fiscal policy,
and more specifically,
on the budget and public debt.
0:17
So here we want to look
at the government's budget
and how it really impacts
on society via tax,
public spending,
instances of public debt,
and the like.
So my aim here today
is to really break down
the barriers to economics
and what it really means
in the real world.
I myself am not an academic
in the strict sense.
However, I do use macro
and micro principles
to guide my economic analysis.
And that's what I'm hoping
to show you today.
So we're gonna really
try and understand
what the budget means to society
and more specifically to you,
and how it affects
macroeconomic variables
such as public debt.
I'll say more about
public debt a little bit later
in the presentation.
But for now,
let's focus on the budget.
1:00
So the first thing
we're gonna cover is
'what is fiscal policy?'
and how it's implemented
in practice.
We're also going to be
exploring public spending
and receipts.
Next, we'll focus
on public debts and yields,
two topics that really go
hand in hand.
And last but not least,
a few concluding words
to wrap up today's presentation.
1:20
So before we go on,
here's my first question
to everyone,
and it's a bit of
an open-ended question.
In the context of the government,
what is a budget?
And when you think about this,
I want you to think about
how important it is to society.
Now, take a minute,
think about this,
reflect on this,
because I think this is
quite an important piece.
Now, budgets are very similar
to that of household budgets
in the way that we look at
incoming and outgoing resources.
Clearly,
there are some differences,
but overall, a household budget
is very similar to that
of the government's.
So let's keep
those thoughts in our mind
as we go to the next
20 or so minutes
in this presentation.
