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The Microeconomics of Public Policy Analysis : International Studen - Lee S. Friedman

The Microeconomics of Public Policy Analysis

International Studen

Hardcover Published: 9th May 2002
ISBN: 9780691089348
Number Of Pages: 784

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This book shows, from start to finish, how microeconomics can and should be used in the analysis of public policy problems. It is an exciting new way to learn microeconomics, motivated by its application to important, real-world issues. Lee Friedman's modern replacement for his influential 1984 work not only brings the issues addressed into the present but develops all intermediate microeconomic theory to make this book accessible to a much wider audience.

Friedman offers the microeconomic tools necessary to understand policy analysis of a wide range of matters of public concern--including the recent California electricity crisis, welfare reform, public school finance, global warming, health insurance, day care, tax policies, college loans, and mass transit pricing. These issues are scrutinized through microeconomic models that identify policy strengths, weaknesses, and ideas for improvements. Each chapter begins with explanations of several fundamental microeconomic principles and then develops models that use and probe them in analyzing specific public policies.

The book has two primary and complementary goals. One is to develop skills of economic policy analysis: to design, predict the effects of, and evaluate public policies. The other is to develop a deep understanding of microeconomics as an analytic tool for application--its strengths and extensions into such advanced techniques as general equilibrium models and pricing methods for natural monopolies and its weaknesses, such as behavioral inconsistencies with utility-maximization models and its limits in comparing institutional alternatives. The result is an invaluable professional and academic reference, one whose clear explanation of principles and analytic techniques, and wealth of constructive applications, will ensure it a prominent place not only on the bookshelves but also on the desks of students and professionals alike.

"An important book. It should have a major impact in schools of policy, planning, and administration, and even in some economics departments. Friedman does a great job of applying the theory to important real-world problems." - David Howell, New School University "The Microeconomics of Public Policy Analysis will quickly become the most widely used text in graduate schools of public affairs and will be an attractive text for use in advanced undergraduate economics courses. This is one of the few books I know of that a noneconomist can skim through and end up with a reasonable understanding of the key economic concepts central to the study of policy analysis." - Samuel L. Myers, Jr., University of Minnesota

Alternative Course Designsp. xv
Prefacep. xvii
Acknowledgmentsp. xix
Microeconomic Models for Public Policy Analysis
Introduction to Microeconomic Policy Analysisp. 3
An Introduction to Modeling: Demand, Supply, and Benefit-Cost Reasoningp. 19
Utility Maximization, Efficiency, and Equityp. 36
Using Models of Individual Choice-Making in Policy Analysis
The Specification of Individual Choice Models for the Analysis of Welfare Programsp. 79
The Analysis of Equity Standards: An Intergovernmental Grant Applicationp. 124
The Compensation Principle of Benefit-Cost Reasoning: Benefit Measures and Market Demandsp. 169
Uncertainty and Public Policyp. 220
Allocation over Time and Indexationp. 278
Policy Aspects of Production and Supply Decisions
The Cost Side of Policy Analysis: Technical Limits, Productive Possibilities, and Cost Conceptsp. 317
Private Profit-Making Organizations: Objectives, Capabilities, and Policy Implicationsp. 373
Public and Nonprofit Organizations: Objectives, Capabilities, and Policy Implicationsp. 417
Competitive Markets and Public Policy Interventions
Efficiency, Distribution, and General Competitive Analysis: Consequences of Taxationp. 461
The Control of Prices to Achieve Equity in Specific Marketsp. 507
Distributional Control with Rations and Vouchersp. 550
Sources of Market Failure and Institutional Choice
Allocative Difficulties in Markets and Governmentsp. 593
The Problem of Public Goodsp. 617
Externalities and Policies to Internalize Themp. 635
Industry Regulationp. 660
Policy Problems of Allocating Resources over Timep. 696
Imperfect Information and Institutional Choicesp. 724
Author Indexp. 753
Subject Indexp. 757
Table of Contents provided by Syndetics. All Rights Reserved.

ISBN: 9780691089348
ISBN-10: 0691089345
Series: International Studen
Audience: Tertiary; University or College
Format: Hardcover
Language: English
Number Of Pages: 784
Published: 9th May 2002
Publisher: Princeton University Press
Country of Publication: US
Dimensions (cm): 25.4 x 18.42  x 4.45
Weight (kg): 1.61