GOV 310L Lecture Notes - Lecture 11: Business Cycle, Comparative Advantage
Document Summary
Public policy is an o cially expressed institution backed by a reward or punishment that expresses the goals of a government. Public policies can be encoded in laws, rules, statutes, edicts, regulations, or orders. Public policies use bene ts or sanctions to encourage people to follow them. The underlying beliefs, intensions, and attitudes held by a person or group. The attachment a grouper individual feels to a particular political party. Technocracy: (these tend to be neglected in most cases, although they matter more than most think) Monetary policy: regulates the economy through manipulating the supply of money, the interest rates, and the availability of credit. The actions that governments take that e ect the economy. Fiscal policy: they regulate the economy through taxing and spending. Tax - how does the government get its money. Spending - how does the government spend its money. People disagree about the best policies to ful ll these goals.
