Public Policy and Management 830

Economics of Public Policy and Management

Autumn 2005

Instructor:

Office Address:

Email:
Phone:

 

Robert Greenbaum

310N Page Hall (PA) 

 

greenbaum.3@osu.edu

292-9578 

 

Credit hours:

Day Section:

 

Evening Section:

 

4 

W: 1:30-4:18p

PA 60

W: 5:30-8:18p 

PA 20

Office Hours:

 

R: 4-5:30p (PA 310N) and by appointment

 

Assistants:

 

 

Andy Hultquist

Tricia Petras

 Assistant Q&A:

 

 

 

M: 4:20-5:20 PA 110B

T:  4:20-5:20 PA 240

 

 

 

PA 110L

292-9343

Required Textbook:

 

Robert Pindyck and Daniel Rubinfeld, Microeconomics, 6th Edition, Prentice Hall.

 

Optional  Books:

 

Tony Cleaver, Economics: The Basics.  2004.  Routledge.

Steven E. Rhoads, The Economist’s View of the World: Government, Markets, & Public Policy.  1985. Cambridge University Press.

Download Syllabus       Basic Information    Preliminary Course Outline

For Assignments, Readings, and Lectures, please log on to the course at carmen.osu.edu

 

Basic Information

Course Objectives:

This intermediate-level class focuses on microeconomic topics that are relevant to public policy analysis.  Microeconomics is the study of how individuals and firms make decisions and how these decisions lead to markets.  We will examine how markets allocate scarce resources and how government policy affects efficiency and equity.

Upon completion of the course, students will have gained a basic understanding of some core microeconomic concepts and methods of analysis.  Students will

  • Understand key concepts such as efficiency, opportunity costs, elasticity, and externalities.
  • Be able to apply tools from microeconomics to improve managerial and policy decision-making.
  • Be able to use economic analysis to evaluate public policy issues.
  • Be able to comprehend and critically evaluate arguments made in public policy debates.  You should be able to read and understand the economics sections of publications such the Wall Street Journal, New York Times, or The Economist.
  • Be able to apply the concepts learned in the class to other classes taken in the program such as public finance and public budgeting.

Supplemental Materials:

·        The textbook’s website contains a study guide with extra problems:   http://wps.prenhall.com/bp_pindyck_6

 

Course Format:

Classes will meet for lecture, problem solving, and discussion on Wednesdays September 21st through November 30th, except for November 23rd (Thanksgiving).  Lectures will focus on the assigned reading material from the textbook.  Some additional discussion reading material (newspaper/magazine articles or op-ed pieces focusing on relevant economic topics) will also be distributed.  Students are expected to prepare all reading assignments prior to each class so that they can fully contribute.

 

Course Requirements and Evaluation:

The course grade will be based upon a mid-term examination (35%), a final exam (35%), graded problem sets (20%), and class participation (10%). Problem sets are due at the beginning of class on the specified day.  Late assignments will receive no credit.  The lowest assignment grade (including late or missed) will be dropped.

 

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Preliminary Course Outline

 

 

Homework

Class

Date

Topics

Assign

Due

1

 

21-Sep

 

Introduction: Thinking like an economist (Ch 1); Rhoads (Ch 1-3);

Cleaver (1- 27); Supply and Demand (Ch 2.1-2.3, 2.7);

Cleaver (33-46)

HW1

 

2

28-Sep

Consumer Choice (Ch 3) (skim 3.6); Cleaver (pp. 27-33)

HW2

HW1

3

5-Oct

Demand (Ch 4) & Demand elasticity (2.4-2.5); Cleaver (pp. 33-37)

HW3

HW2

4

12-Oct

Short Run Production & Costs (Ch 6.1-6.3 & Ch 7.1-7.2);

Cleaver (48-52)

 

HW3

5

 

19-Oct

 

Finish up Short Run Production & Costs

Midterm Exam

 

 

6

 

26-Oct

 

Long Run Production and Costs (Ch 6.4 & Ch 7.3-7.4)

Perfect Competition and Profit Maximization (Ch 8); Cleaver (52-61) 

HW4

 

7

 

2-Nov

 

Perfect Competition and Profit Maximization (Ch 8)

Analysis of Competitive Markets (Ch 9); Rhoads (Ch 6)

HW5

HW4

8

9-Nov

Market Power: Monopoly (Ch 10.1 – 10.4, 10.7, 11.1-11.4);

Cleaver (61-77)

HW6

HW5

9

 

16-Nov

 

Games &Competitive Strategy (Pp. 441-442, 12.4 & 13.1-13.5)

Externalities (Ch 18.1-18.4); Rhoads (Ch 4-5)

HW7

 

HW6

 

 

23-Nov

No class: Thanksgiving

 

 

10

 

30-Nov

 

Public Goods (Ch 18.5-18.6)

Finish Up and Review; Rhoads (Ch 12)

 

 

 

7-Dec

Final Exam: 5:30-7:18 in TBA

 

 

Click here for an MS Word printable version of the syllabus. 
 

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