1. Why Study State and Local Government Finance? -- 2. Microeconomic Analysis: Market Efficiency and Market Failure -- 3. Public Choice Without Mobility: Voting -- 4. Demand for State and Local Goods and Services -- 5. Public Choice Through Mobility -- 6. Organization of Subnational Government -- 7. Costs and Supply of State and Local Goods and Services -- 8. Pricing of Government Goods: User Charges -- 9. Intergovernmental Grants -- 10. Borrowing and Debt -- 11. The Budget Process -- 12. Principles of Tax Analysis -- 13. The Property Tax: Institutions and Structure -- 14. Property Tax: Economic Analysis and Effects -- 15. Sales and Excise Taxes -- 16. Income Taxes -- 17. Business Taxes -- 18. Revenue from Government Monopoly and Regulation -- 19. Education -- 20. Transportation -- 21. Welfare -- 22. Economic Development.