Public Economics

ECON 410 • Spring 2022 • Hood College

Analyze and understand how actual public policy is made by actual governments by examining the incentives and constraints of individuals choosing in politics and other non-markets.

By the end of this course, you will:

1. Understand the incentives of different participants in a liberal democracy, particularly voters, politicians, bureaucrats, regulators, and special interest groups
2. Understand the processes by which actual public policy gets made by actual people
3. Understand the difference between constitutional-level rules and political rules and the importance of each
4. Explain current events and public policies in terms of individuals accomplishing separate political goals through political exchanges
5. Recognize the analytical and practical similarities and differences between individuals acting in markets and non-market institutions
6. Understand and explain real world differences in outcomes and in operations between political, cultural, economic, and social institutions in different societies
7. Overcome the nirvana fallacy