Textbook Notes (362,755)
Canada (158,052)
Commerce (379)
COMM 394 (7)
Chapter 1-4

C394 Textbook Notes (Ch.1-4)

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University of British Columbia
COMM 394
Robin Lindsey

COMM 394 GOVERNMENTBUSINESSCHAPTER 1114Introduction NORMATIVE PRESCRIPTIVE or PUBLIC INTEREST APPROACH What should the role of government beGovernment policy should seek to promote the public interestWidely accepted government goalsEconomic Efficiency Trying to make the per capita benefits of consumption and services as high as possibleMacroeconomic Stabilization and Growth To stabilize cyclical fluctuationsFairness equity Taxation social welfare universal healthcare etcOther social objectives National unity culture limitations on gamblingalcohol consumptionPOSITIVE ANALYSIS DESCRIPTIVE or PRIVATE INTEREST APPROACT What factors explain the actual conduct of governmentFocuses on the objectives behavior and interaction of individuals and groups who influence policy decisionsAims to explain why government policy takes the form it does MAJOR POLICY AREASInternational trade policyEnvironmental policyCompetition policyPrice and entry regulationPublic enterprise and Crown corporationsMacroeconomic stabilization policy and the public debtCHAPTER 2Four Useful Economic ConceptsOPPORTUNITY COSTThe value of the best foregone alternativeProject should only be undertaken if their value exceeds the value of alternative projectsAdded costs on any project leave us with fewer resources for alternativesProjectsactivities are only funded to the extent that benefits exceed opportunity costsEG What is the value of a tuitionfree higher education when compared to the value of an alternative projectservice healthcare roads etc 1
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