Department of Economics, Unit Catalogue 2009/10 |
ES20023: Economics of politics (formerly EC20079) |
 Credits:
| 6 |
| Level:
| Intermediate |
| Period: | Semester 1 |
| Assessment:
| CW 50%, EX 50% |
| Supplementary Assessment: | Like-for-like reassessment (where allowed by programme regulations) |
| Requisites:
| Before taking this unit you must (take ES10001 and take ES10002) or take ES10010 |
| Description: | This unit is not available to single honours Economics students. Aims: The aim of this Unit is to apply introductory microeconomic theory to analyse political behaviour. Students will investigate the extent to which a rational choice model sheds insight on political behaviour and political institutions. Thus, the intention is to provide students with an integrative link between their understanding of economic theory and political science. Learning Outcomes: The learning outcome is that, by the end of the course, students will be able to apply introductory microeconomic theory to analyse political behaviour. They will be able to use microeconomics to explain and predict why governments prefer one policy option to another. They will be able to assess the costs involved in democratic decision-making processes. They will be able to identify and assess alleged 'failings' of the political processes and associated prescriptions. Skills: Analytical skills are facilitated (i.e. skills of value beyond the subject matter), e.g. the use and evaluation of arguments, logical reasoning. Investigative (research) skills and skill in time management are facilitated. An enhanced understanding of economic analysis and skill in presentation is assessed. Content: The course unit begins with a review of microeconomic welfare theory. This is applied to explain and predict the behaviour of politicians, bureaucrats, voters and pressure groups. The implications of adopting different collective decision making rules are investigated. Case studies are used to illustrate theory. Assessment is offered of the public choice school's assertion that government failure leads to an excessively large public sector. |