Economic Principles of Policy Analysis
This course will introduce students to the basic concepts and tools of microeconomics and welfare economics, which are used to analyze public policy from an economic perspective. We will use the economic framework to explain:
1. the demand and supply components of markets;
2. when markets are efficient and equitable;
3. how government policy relates to market failure at the microeconomic level.
The focus of the class will be on public policy and its relation to economics. In order to apply economic concepts in a practical way, we will use current events as supplied by the textbook and by additional readings. I hope to help students further develop critical thinking skills by using economic theory as a foundation for problem analysis. Examples of issues I hope to cover are:
-Is free trade a good thing?
-Is a minimum wage increase a good goal for society?
-How can the government reduce air and water pollution?
-Why does the government regulate some markets more than others?
The course has several goals in moving you forward in your learning experience:
- Apply basic economic concepts to everyday life.
2. Using economics, discover a problem, analyze alternative solutions to the problem, and form opinions as to which solution is best for society.
3. Improve your communication skills.