This subject provides an overview of the field of political economics. Political economics extends the scope of standard economic analysis by assuming that individuals follow their own agenda and maximize their own utility not only in the economic, but also in the political sphere. The following broad areas will be covered: Determinants of institutional quality and its effects on economic performance; models of political competition and (re-)elections; various (so-called) political and institutional failures, including corruption and rent seeking, and delays in welfare-increasing reforms. -- Course Website
Prerequisites: Admission into BH-COM or BH-ARTS (Economics) and both of the following: Subject Study Period Commencement: Credit Points: ECON40001 Advanced Microeconomics Semester 1 12.50 ECON40002 Advanced Macroeconomics Semester 1 12.50
