2019-2020 Undergraduate Catalog

ECON 30773 Public Choice

Prerequisites: 3 hours of any economics course. Public choice theory is the application of economic theory to non-market decision-making, specifically in the political sphere. It assumes the same principles that economists use to analyze actions in the marketplace - people are primarily driven by self-interest - and applies them to analyze choices made collectively (such as the outcomes of elections or how to govern common pool resources).