24L/12T
This course provides an introduction to the central economic policy issues in industrialized nations around the world including but not limited to Canada, the U.S., Europe, and Japan. It examines how governments raise revenue through taxation and the rationale for government provision of goods and services such as social security, health care, education, income transfers, national defense, and housing / food assistance. It also explores the economics of regulation such as minimum wages, environmental regulation, immigration, antitrust, and criminal justice along with the division of responsibility between different levels of government. Emphasis is placed on real-world examples including the economic and political trade-offs policymakers face when designing, implementing, and revising policies. The course also investigates the economics of government debt and of monetary policy along with the growing challenges for public finances posed by declining fertility rates and rising life expectancy. A primary focus is on how policymakers can improve the current and future performance of their economies while expanding opportunity for all.