ECON 241 Study Guide - Comprehensive Final Exam Guide - Canada, Inflation, Gross Domestic Product

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Policy analysis + economics: problem definition/ structuring, goals, constraints, criteria, policy instruments, education, problem. Present of diagnosis (a) stakeholder analysis --- who has interest in problem, resources being to know, beliefs about problems (b) build empirical base about nature dimensions of problem. -who affected, how are they affected, trends over time, etc eg: poverty. -framing is choice of ideological +methodological approach eg: gender wage gap tax evasion. -modelling uses formal or informal model to link symptoms to policy options eg: overfishing: goals, constraint & criteria. -goals are broad statements of what wish to achieve alleviate problem. Goals often conflict trade-offs policy delate/efficiency vs equity. -characteristics of problems (a) often constellation of problems eg: youth employment. Social disaffection (b) problems are socially constructed maintained + changed by groups eg: climate change inequality (c) problems and dynamic. Health, ui/ei: macroefficiency efficient fraction of gdp devoted to totality of welfare state impossible.

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