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The Microeconomics of Public Policy Analysis, by Lee S. Friedman
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This book shows, from start to finish, how microeconomics can and should be used in the analysis of public policy problems. It is an exciting new way to learn microeconomics, motivated by its application to important, real-world issues. Lee Friedman's modern replacement for his influential 1984 work not only brings the issues addressed into the present but develops all intermediate microeconomic theory to make this book accessible to a much wider audience.
Friedman offers the microeconomic tools necessary to understand policy analysis of a wide range of matters of public concern--including the recent California electricity crisis, welfare reform, public school finance, global warming, health insurance, day care, tax policies, college loans, and mass transit pricing. These issues are scrutinized through microeconomic models that identify policy strengths, weaknesses, and ideas for improvements. Each chapter begins with explanations of several fundamental microeconomic principles and then develops models that use and probe them in analyzing specific public policies.
The book has two primary and complementary goals. One is to develop skills of economic policy analysis: to design, predict the effects of, and evaluate public policies. The other is to develop a deep understanding of microeconomics as an analytic tool for application--its strengths and extensions into such advanced techniques as general equilibrium models and pricing methods for natural monopolies and its weaknesses, such as behavioral inconsistencies with utility-maximization models and its limits in comparing institutional alternatives. The result is an invaluable professional and academic reference, one whose clear explanation of principles and analytic techniques, and wealth of constructive applications, will ensure it a prominent place not only on the bookshelves but also on the desks of students and professionals alike.
- Sales Rank: #89299 in Books
- Brand: Princeton University Press
- Published on: 2002-05-09
- Ingredients: Example Ingredients
- Original language: English
- Number of items: 1
- Dimensions: 10.10" h x 1.80" w x 7.10" l, 3.82 pounds
- Binding: Hardcover
- 784 pages
- Used Book in Good Condition
Review
"An important book. It should have a major impact in schools of policy, planning, and administration, and even in some economics departments. Friedman does a great job of applying the theory to important real-world problems." - David Howell, New School University "The Microeconomics of Public Policy Analysis will quickly become the most widely used text in graduate schools of public affairs and will be an attractive text for use in advanced undergraduate economics courses. This is one of the few books I know of that a noneconomist can skim through and end up with a reasonable understanding of the key economic concepts central to the study of policy analysis." - Samuel L. Myers, Jr., University of Minnesota
From the Inside Flap
"Teachers and students alike will be thanking Lee Friedman for accomplishing what all too few textbook authors do: breathing the vibrant life of practical examples into the abstract principles of economic analysis. This book links sound economic theory to scores of policy problems, presented in rich institutional detail. It will engage, enlighten, and captivate participants in both public policy and mainline economics courses for years to come."--Henry J. Aaron, Brookings Institution
"Getting the economics right is one of the first tasks to getting public policy right. In Lee Friedman's new text, we now have the thorough and thoughtful treatment we need to train the next generation of policymakers and their advisors. Friedman makes sure the student sees the strengths and weaknesses of each tool in the economist's kit. To Harry Truman's chagrin each application and substantive topic gets a balanced 'pro vs. con' presentation. And today's policy analysts, myself included, need this book within easy reach, on the shelf between Varian and Rawls."--Robert P. Inman, University of Pennsylvania
"An important book. It should have a major impact in schools of policy, planning, and administration, and even in some economics departments. Friedman does a great job of applying the theory to important real-world problems."--David Howell, New School University
"The Microeconomics of Public Policy Analysis will quickly become the most widely used text in graduate schools of public affairs and will be an attractive text for use in advanced undergraduate economics courses. The main argument is that microeconomic theory provides a strong and persuasive foundation for designing policies to achieve efficiency and equity in market and nonmarket settings. This text is significant . . . the best to bring together economic rigor and policy applications."--Samuel L. Myers, Jr., Roy Wilkins Professor of Human Relations and Social Justice, Hubert H. Humphrey Institute of Public Affairs, University of Minnesota
"Lee Friedman's new text is just what's needed to prepare the next generation of policy analysts for the challenges ahead. It provides a strong foundation for a public-policy course that could serve either as a complement or substitute for a traditional intermediate microeconomics course. Friedman is superb at developing extended real-world examples that provide a grounded sense of both the power and the limitations of economic analysis."--Philip J. Cook, Duke University
From the Back Cover
"Teachers and students alike will be thanking Lee Friedman for accomplishing what all too few textbook authors do: breathing the vibrant life of practical examples into the abstract principles of economic analysis. This book links sound economic theory to scores of policy problems, presented in rich institutional detail. It will engage, enlighten, and captivate participants in both public policy and mainline economics courses for years to come."--Henry J. Aaron, Brookings Institution
"Getting the economics right is one of the first tasks to getting public policy right. In Lee Friedman's new text, we now have the thorough and thoughtful treatment we need to train the next generation of policymakers and their advisors. Friedman makes sure the student sees the strengths and weaknesses of each tool in the economist's kit. To Harry Truman's chagrin each application and substantive topic gets a balanced 'pro vs. con' presentation. And today's policy analysts, myself included, need this book within easy reach, on the shelf between Varian and Rawls."--Robert P. Inman, University of Pennsylvania
"An important book. It should have a major impact in schools of policy, planning, and administration, and even in some economics departments. Friedman does a great job of applying the theory to important real-world problems."--David Howell, New School University
"The Microeconomics of Public Policy Analysis will quickly become the most widely used text in graduate schools of public affairs and will be an attractive text for use in advanced undergraduate economics courses. The main argument is that microeconomic theory provides a strong and persuasive foundation for designing policies to achieve efficiency and equity in market and nonmarket settings. This text is significant . . . the best to bring together economic rigor and policy applications."--Samuel L. Myers, Jr., Roy Wilkins Professor of Human Relations and Social Justice, Hubert H. Humphrey Institute of Public Affairs, University of Minnesota
"Lee Friedman's new text is just what's needed to prepare the next generation of policy analysts for the challenges ahead. It provides a strong foundation for a public-policy course that could serve either as a complement or substitute for a traditional intermediate microeconomics course. Friedman is superb at developing extended real-world examples that provide a grounded sense of both the power and the limitations of economic analysis."--Philip J. Cook, Duke University
Most helpful customer reviews
0 of 0 people found the following review helpful.
Not good for learning
By matt
This book was assigned for my public policy class.
For one, although the analysis is insightful, it is overstated. The basic ideas expressed in each chapter can be said in fewer words. The author offers many examples but fails to effectively teach the concepts behind what the the exercises require.
One example was problem 6-3 when trying to find an aggregate demand curve. The calculation involved adding the prices instead of adding up quantities for each specific price (the standard way of aggregating demand). In order to complete the exercises I ended up using youtube and wikipedia to get a better comprehension. To get the answers, I just completed multiple calculations mixing and matching the numbers.
A textbook is supposed to be the crutch of a course, but this one actually made the course worse.
If you are a professor, please DON'T ASSIGN THIS BOOK! There are other choices, and if you want your students to understand what you're talking about, don't assign it. Even the most motivated student will find that they'll spend more time trying to comprehend the topic than actually being able to work with it.
0 of 0 people found the following review helpful.
Five Stars
By Tahta Rakyat
Excellent!
1 of 1 people found the following review helpful.
It should be in your library
By Douglas B. Wilson
Lee Friedman's "The Microeconomics of Public Policy Analysis" provides an excellent discussion of a wide range of microeconomic analysis topics including individual choice,uncertainty, allocation of resources over time, equity, economic costs, efficiency, taxation, externalities, alternative interventions and organizational analysis. Each chapter centers on a policy problem. Readers lacking a strong economics background will find the discussions frustrating, but that is the nature of the topic. Economics is not "beanbag." Prof. Friedman has buttressed his discussions with footnotes that refer the reader to seminal writings on the chapter topics. The relevant mathematics have been stored in appendices and provide an alternative perspective for the interested reader. This book belongs in the library of every serious policy wonk.
Doug Wilson
Boston, MA
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