ECON 3400 - Economic Analysis of Public Choice

(3) Credit Hours

The course provides a survey of economic analysis of politics, also known as public choice theory, political economy, or rational choice theory. The goal of the course is to provide the student with a general framework within which public sector policies and decisions can be evaluated. This framework applies the theoretical lens of economics to examine the behavior of voters, politicians, bureaucrats, and interest groups under various institutional arrangements. It introduces students to basic concepts and debates in public choice, including the logic of collective action, the Median Voter Model, information, bargaining, competition, constitutions, expressive voting, voter irrationality, behavioral political economy, dictatorship, and anarchy. Conceptual, theoretical, and empirical evidence will be examined throughout. On demand. Prerequisites: ECON 1020 with a minimum grade of C or department head approval.Junior standing. Differential course fee will be assessed.