TAILIEUCHUNG - Lecture Public economics (5th edition) - Chapter 6: Public choice theory

Lecture Public economics (5th edition) - Chapter 6 discuss the Rawlsian theory of justice and comment on its relevance to recent political developments in South Africa, explain the median voter theory and indicate its potential strengths and weaknesses, discuss the meaning and importance of Kenneth Arrow’s impossibility theorem, consider whether logrolling (or vote trading) is an efficient means of improving the outcomes of a majority voting system. | OXJORD UNIVERSITY PRESS SOUTHERN AFRICA Public Economics Chapter 6 Public Choice Theory Oxford University Press Southern Africa Pty Ltd 2011 OXFORD UNIVERSITY PRESS Learning outcomes Discuss the Rawlsian theory of justice and comment on its relevance to recent political developments in South Africa Explain the median voter theory and indicate its potential strengths and weaknesses Discuss the meaning and importance of Kenneth Arrow s impossibility theorem Consider whether logrolling or vote trading is an efficient means of improving the outcomes of a majority voting system Explain the theory of optimal voting rules and consider the question of whether it does indeed provide an optimal rule for majority voting Discuss the maximising behaviour of politicians and bureaucrats and consider the implications of such behaviour for majority voting Explain the origins and consequences of rent-seeking . SOUTHERN AFRICA Oxford University Press Southern Africa Pty Ltd 2011 OXFORD UNIVERSITY PRESS The unanimity rule The unanimity-voting rule means that each member or representative group within a community must support a proposal before it becomes the collective decision. Pareto-optimal outcome - collective decisions in the interests of all parties Positive sum game. SOUTHERN AFRICA Oxford University Press Southern Africa Pty Ltd .

• Kinh tế học
• Public economics
• Lecture Public economics
• Public choice theory
• Unanimity voting rule
• Rawlsian experiment
• Majority voting
• Public expenditure
• Public growth
• Public goods
• Government expenditure patterns
• Public sector in the economy
• The goverment in the market
• Public sector resource
• General government consumption
• Negative externalities
• Transaction costs
• Cap and trade programmes
• Tax equity
• Public services
• Inflation taxation
• Public debt
• Debt management
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• Financial credibility
• Public finance
• Lecture Public finance
• Public sector economics
• Federal government
• Legal framework
• Local governments
• The corporation tax
• Federal system
• Fiscal federalism
• Education Increase Earnings
• Public education
• Public education improves quality
• Benchmark model of the economy
• Benchmark model assumptions
• Allocative efficiency
• Economic growth
• Imperfect competition
• Monopoly competition
• Natural monopoly
• Competition policy
• Social welfare
• Social equity
• Welfare improvement
• Nozick’s entitlement theory
• Fisnical policy
• Social policy
• Poverty and inequality
• South Africa
• Cost benefit analysis
• Private benefits
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• Administrative efficiency
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• Income taxation
• Comprehensive income tax
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• Taxation of wealth
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• Taxing personal net wealth
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• Fiscal policy
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• Economics today
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• Housing economics and public policy
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