Week 1 Flashcards
1
Q
4 key policy analysis tools
A
- efficiency
- equity
- risk/uncertainty
- feasibility
2
Q
key steps in policy analysis:
A
- identify problem
- identify possible approaches
- evaluate and study possible policies
3
Q
two key concepts for efficiency
A
- productive efficiency
2. allocative efficiency
4
Q
productively efficient
A
for every dollar taken in, more stuff is produced
5
Q
allocative efficiency
A
determining optimal allocation for max benefit
6
Q
equity - key issue
A
distribution of resources across people
7
Q
vertical equity
A
are people at different levels of society treated appropriately differently
8
Q
horizontal equity
A
are people at the same level of society treated appropriately similarly
9
Q
3 factors that affect political feasibility
A
complexity of policy
relationship between policy and beliefs
salience of issue to specific groups
