ECON 3720 - POLITICAL ECONOMY

Minimum Credits: 3
Maximum Credits: 3
In this course, we will take a formal look at various environments where a group of individuals (committee, society, congress, etc) takes a binding decision through some institutional mechanism (consensus, elections, jury deliberations, legislative bargaining etc). The course will have a strong formal, positive focus on how the varied political, social and legal institutions that define the 'rules' of collective decision-making determine the nature of collective outcomes. On the normative side, the course would focus on certain 'desirable properties' (e.g. Respecting minority preference) of collective decision-making and analyze whether and to what extent the existing institutional arrangements satisfy such properties. While we shall start out using concepts of co-operative game theory, for most part of the course we will be in the realm of non-cooperative game theory. This course will provide a starting point for research in formal political theory and political economy. As such, it might be of interest to students of both economics and political science.
Academic Career: Graduate
Course Component: Lecture
Grade Component: Grad LG/SNC Basis

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