Economic Policy [3HEFEK151V]
Time and Place | Lecture (Prof. Dr. Carsten Hefeker)Wednesday 8-10 in US-A 234. Tutorial (Alexander Bareis)Monday 16-18 in US-A 234.
Office hours
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Mechanics | The course is based mainly on the textbooks by Mueller and Persson and Tabellini which are available in the library. Additional sources are indicated below and will be specified in class. Before registering for the course, please read the course outline and information on how the tutorial will work. |
Requirements | This course has 9 Credit Points. To obtain those points, students will have to pass the final exam successfully and additionally actively participate and present in the tutorial. For details, please refer to the documents provided via Unisono. |
Content | Introduction
Property Rights, Transaction Costs and Economic Efficiency
Part II: Democratic Economic Policy
Majority Voting and its Problems The Median-Voter
Probabilistic Voting Interest Groups and Bureaucracy Part III: Implementation of Economic Policy
Part IV: Partisan Economic Policy
Debt and Common Pool-Problems War-of-AttritionTying the Hands of One's Sucessor Part V: Economic Policy in Practice Economic Policy Aims: Some Examples |
Literature | Acemoglu, Daron (2003) Why Not a Political Coase Theorem?, Journal of Comparative Economics 31, 620-652. Acocella, Nicola, Giovanni Di Bartolomeo and Andrew Hughes Hallett (2012) The Theory of Economic Policy in a Strategic Context, Cambridge: Cambridge University Press. Besley, Timothy (2006) Principled Agents? The Political Economy of Good Government, Oxford: Oxford University Press. Dixit, Avinash (1996) The Making of Economic Policy, Cambridge: MIT-Press. Drazen, Allan (2000) Political Economy in Macroeconomics, Princeton: Princeton University Press. Hillman, Arye (2018) Public Finance and Public Policy, 3rd ed., Cambridge: Cambridge University Press. (You may also use older editions.) Mueller, Dennis C. (2003) Public Choice III, Cambridge: Cambridge University Press. North, Douglass C. (1990) A Transaction Cost Theory of Politics, Journal of Theoretical Politics 2, 355-367. Persson, Torsten and Guido Tabellini (2000) Political Economics: Explaining Economic Policies, Cambridge: MIT-Press. |