Economics for Public Policy II: Choices and Competition

This course is the sequel to PPOL 3115. Core topics include consumer choice; choices in the public and private sector; the role of private self-interest; the role of governmental self-interest ("public choice"); utility maximization; price elasticity of demand; short and long-run costs; competition; monopoly; efficiency; oligopoly; antitrust policy; positive and negative externalities, such as taxes and regulations; effects of governmental uncertainty; market distortions; trade policy; profitability; productivity; the economics of health care and environmental regulation; leading and lagging indications of economic activity; creation of economic policy; "theory" vs. "applied" considerations. Prerequisites: PPOL 3115 and sophomore standing. Recommended Prerequisite: PPOL 2000.