Taught By:
Joshua Lyman
Professional Instructor
School of Public Affairs & Administration
Western Michigan University
Read LinkedIn profile here.
Course Description:
The actions and decisions of public administrators require thorough understanding of the economic logic undergirding public service. This includes understanding the ways government actions and interventions can be designed to address many public problems that the competitive market fails to address. This course examines key microeconomic principles and theories focusing on the models of consumer and firm behavior, public goods and externalities, asymmetric information, market failures, and the impact of government regulations on the private actors, economy, and society. In the context of a global economic system characterized by competition and mutual interdependencies, it also explores contemporary public service and policy issues including minimum wage regulations, inequality, national debt, trade protections, health insurance, and food stamps provision.
