ECON 3370 - Economy, Politics, Law

Institution:

University of Utah

Subject:

Economics

Description:

Market efficiency and Adam Smith's "invisible hand" remain the focus of most traditional economics classes. However, in our era, market failures are endemic. Whether it is externalities, monopolies or public goods, market failures commonly dominate the economic news especially in the advanced, information driven economies such as ours. As a result, economic well-being today depends more than ever on how we can fix these failures. Yet, politics can constrain the effectiveness of our political institutions, shaped and influenced heavily by the economy. This raises the possibility of a vicious cycle. Economic problems can fuel the type of politics that erode our institutional capacity to fix market failures, making them fester and reinforce destabilizing politics. This suggests a "double failure," where the economy and politics fail together.

Credits:

3.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

08/15/2019 - 08/14/2020 

Institution Website:

www.utah.edu

Phone Number:

(801) 581-7200

Regional Accreditation:

Northwest Commission on Colleges and Universities

Calendar System:

Semester

General Education

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