Degree in Political Economy that is collectively managed by the Department of Economics and the Department of Government. The major in Political Economy exposes college students to the rich intersection between economics and politics. Students study the social, political, and economic elements that have an effect on and are affected by methods of production, exchange, and distribution, as well as the combo of values reflected in them. Public selection principle is a microfoundations theory that’s intently intertwined with political economy.
Both approaches mannequin voters, politicians and bureaucrats as behaving in mainly self-involved methods, in distinction to a view, ascribed to earlier mainstream economists, of presidency officers trying to maximize particular person utilities from some kind of social welfare function. Other “traditional” subjects embrace analysis of such public policy issues as financial regulation, monopoly, lease-looking for, market protection, institutional corruption and distributional politics.
Ultimately, the convergence of these crisis dynamics calls … Read More