This course introduces students to an in-depth examination of the forces that influence the behavior of public administrators engaged in the public sector decision-making process on economic issues. Based on diverse theoretical and practical perspectives, students are able to learn various market and bureaucratic scenarios including micro- and macro-economic problems and impacts and how tools of modern political economy can be used to address contemporary policy questions. By leading classes along with discussions, students are encouraged to marshal facts embedded in the public decision making, analyze research literature, critically examine the pros and cons, and support educated conclusion as potentially qualified public administrators and policymakers.
This course provides students with basic principles of political economy and applies them to public administration issues on the interaction of the public and private sectors of our economy at an advanced level. In a broader manner, this course will cover the following questions:
1. What is the market failure?
2. When can government play a role in improving market outcomes?
3. How can we evaluate whether a policy is likely to be effective?
4. What are the potential pitfalls associated with government involvement in markets (bureaucratic failure)?
5. How can public managers improve the efficiency and effectiveness of their organizations?
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