Development, Growth, and Structural Change. Lecture 1: How Economists Think About Growth and Development National Graduate Institute For Policy Studies IDTP Fall 2013 John Page. What is Development?. An economist’s answer: Rising per capita income What makes this appropriate?By merv
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Economic Policy. Economic Theory. Laissez-Faire Theory that dominated American economic policy (or the lack thereof) in the early years Basic idea is that market will correct itself; cyclical Cycles of expansion, growth, contraction, recession
ECONOMIC POLICY. PUBLIC POLICY – THE BASICS. Agenda Setting: Policy Formulation Adoption Implementation Evaluation Policy Politics: Who PAYS for whose BENEFITS ? Distributed Costs & Benefits - Ex: education / defense Concentrated Costs & Benefits
ECONOMIC POLICY. What are the problems or goals? What are the Solutions? Solutions generally take on incremental changes Exceptions: War (increased spending); Recession/Depression: New Deal; TARP; Financial Bailout. Macro economic goals. Economic Growth Low Unemployment Low Inflation.
Economic Policy. Introduction. What is economic policy Federal government and economic policy Free enterprise approach. Goals of economic policy. Economic growth Low unemployment Low inflation. Tools of economic policy. Fiscal policy Monetary policy Regulation. Tax policy.
Economic Policy. Q. What's the difference between an economist and a befuddled old man with Alzheimer's? A. The economist is the one with the calculator. Economic Freedom. Economic freedom matters Economic repression breeds terrorism ? From the 2002 study:
ECONOMIC POLICY. Chapter 18 O’Connor and Sabato American Government: Continuity and Change. ECONOMIC POLICY. In this chapter we will cover … The Roots of Government Participation in the Economy Stabilizing the Economy The Global Economy The Economics of Regulating Environmental Activity.
Economic Policy. The Goals and Instruments of Economic Policy. Introduction. During the decades following World War II, it mostly appeared that the problems of managing the U.S. economy had been solved.
Economic Policy. Now 15. American Dream. A healthy Economy is needed to help insure the goals of the Preamble. Another reason is so that Americans can try to obtain the American Dream. This is one of the main causes for illegal immigration. See the chart on pg 536
ECONOMIC POLICY. Revenues and Expenditures. Revenues: Money the government takes in – taxes, fees, other sources Expenditures: Money the government spends – mandatory and discretionary spending Revenues > Expenditures = Budget surplus Expenditures > Revenues = Budget deficit