Reference no: EM131594691

Assignment

Question 1

Explain two of the six criteria for policy prescription, (a) effectiveness, (b) efficiency, (c) adequacy, (d) equity, (e) responsiveness, and (f) appropriateness. Then, describe a real or hypothetical public policy issue and select which of the two criteria you believe would be the most beneficial to use in deciding a policy. Provide at least two reasons for your selection.

Debate It: Take a position for or against the following statement: Rational choice is not possible. Discuss how different types of rationality are related to different criteria for prescription. Provide at least two reasons and two examples to support your response

Question 2

Saving Lives by Prescribing Policies" Please respond to the following:

From the case studies, Case 1.1 and Case 5.1, explain two of the major issues. Then, analyze the assumptions that govern safe driving and discuss whether some assumptions are more reasonable than others. Support your position with at least two reasons and one example.

From the case studies, Case 1.1 and Case 5.1, recommend the best ways to estimate the value of time and the cost of a gallon of gasoline. Support your position with at least two reasons and one example.

CASE 1.1E GOELLER SCORECARD-MONITORING AND FORECASTING TECHNOLOGICAL IMPACTS

When advanced technologies are used to achieve policy goals, sociotechnical systems of considerable complexity is created. Although it is analytically tempting to prepare a comprehensive economic analysis of the costs and benefits of such policies, most practicing analysts do not have the time or the resources to do so. Given the time constraints of policy making, many analyses are completed in a period of several days to a month, and in most cases policy analyses do not involve the collection and analysis of new data. Early on in a project, policy makers and their staffs typically want an overview of the problem situation and the potential impacts of alternative policies. Under these circumstances, the scorecard is appropriate.

The Goellerscorecard, named after Bruce Goeller of the RAN D Corporation, is appropriate for this purpose. Table C1.1 shows the impacts of alternative transportation systems. Some of the impacts involve transportation services used by members of the community, whereas others involve impacts on low-income groups. In this case, as Quade observes, the large number of diverse impacts are difficult to value in dollar terms, making a benefit-cost analysis impractical and even impossible.50 Other impacts involve financial and economic questions such as investments, jobs created, sales, and tax revenues. Other impacts are distributional because they involve the differential effects of transportation.

Case 5.1

CASE 5.1 OPPORTUNITY COSTS OF SAVING LIVES-THE 55 MPH SPEED LIMIT41

Conducting a benefit-cost analysis is not only a technical matter of economic analysis. It is also a matter of identifying, and if necessary challenging, the assumptions on which benefit-cost analysis is based. This can be seen if we examine the case of the National Maximum Speed Limit of 1974.

Table 5.11 describes steps in conducting a benefit-cost analysis and a critique of the assumptions underlying the analysis. The case shows, among other things, that all steps in conducting a benefit-cost are sensitive to these assumptions.

Attachment:- Policy-Analysis.rar