Overview
Public policy and economic behavior are interconnected fields that explore how government actions influence individual and group decisions regarding resource allocation. Understanding public policy helps us grasp the mechanisms that shape societal norms and economic outcomes. By studying economic be...
Key Terms
Example: The Clean Air Act is a public policy aimed at reducing air pollution.
Example: Consumers deciding whether to buy a product based on its price.
Example: Tax breaks for electric vehicle purchases encourage more people to buy them.
Example: Choosing the cheapest option when shopping.
Example: People often buy more snacks when they are on sale, even if they don't need them.
Example: Analyzing the impact of a new tax policy on economic growth.
Related Topics
Behavioral Economics
Explores how psychological factors influence economic decisions.
intermediatePublic Administration
Focuses on the implementation of public policy and management of public programs.
intermediateEnvironmental Economics
Studies the economic impact of environmental policies and resource management.
advancedKey Concepts
Public PolicyEconomic BehaviorDecision MakingResource Allocation