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With a background from the previous section we now study some of the critical characteristics of policy process. You have already studied earlier various technical theories relating to equilibrium state, optimal solutions, intergenerational optimizations, theories of choice and justice, etc. Now, instead of revisiting those theories over again, we will focus on their applicability to policy processes. In the course of the study we will see that the beauty of those theories, created under idealized framework is lost in applications. Even the very ethical ideals and notions of justice are compromised on the grounds of various claims made by special interest groups in policy process.
But you need not lose heart. You have to take it as a challenge to make your self capable of modifying theories on the basis of real would facts and to be able to make best explanation of facts on the basis of those idealized theories you have been studying. This real-idealized interaction has been very fruitful in advancement of all the branches of knowledge.
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Consider the model of industry protection of Grossman and Helpman. There are two industries A and B, each producing good X and Y respectively. All other things being equal, the dem
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what id the definition of public debt burden?
Problem 1: "The public sector needs to be reformed so as to meet the challenges of the day." With special reference to Mauritius, discuss the challenges that the public sect
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(1) The federal government is considering selling tracts of federally owned land to private developers and using the revenues to provide aid to victims of an earthquake in a foreig
Question 1: Briefly (three or four paragraphs) give reasons for your answer. (a) In studying the public sector, economists should use either positive or normative economics
Jack and Jill live alone on an island. Their labour supply schedules are identical and given by L = (1 - t)w, where t is the income tax rate and w denotes the wage. Jill's wage i
Explain the following: (Critically Depensated) Growth Function Sustainable Yield Functions Logistic Growth Function
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