PPEL505

Public Choice is the application of economics to the study of non-market phenomena. It is concerned with the economic theory of collective action, of the public sector, of bureaucracies, of religion, of politics (democratic and authoritarian), and of criminal activities. In this course we will explore questions such as: What is the difference between private and public goods? Under what conditions is it efficient for a collective problem to be addressed by government, by private arrangements, or to be ignored and left unsolved? How do democracies work, and why are they vulnerable to be captured by special interests? What is \"self-governance\" and how do we decide whether a collective problem should be addressed at federal, state, or local level? How do people organize outside the law?

Fall, Spring

Fall, Spring