Final Review PSCI 2306 Fall 2018 - Final Review topics covered Public Policy types and process[ch18 488 o What is public policy \u2013 a general

Final Review PSCI 2306 Fall 2018 - Final Review topics...

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Final Review: topics covered Public Policy: types and process [ch18] 488 o What is public policy – a general action adopted by the govt to solve a social problem, counter, a threat, or pursue an objective o How many types of public policies are there? 491 Distributive – govt policies designed to confer a benefit on a particular institution or group Redistributive – policies that take govt resources, such as tax funds, from one sector of society & transfer them to another Regulatory o The process of policy making: (gender, debate, policy drafted (senate/house), debate, agreed, sent to president) Fiscal and monetary policies [ch17] 464 o Fiscal policy – economic policies that involve govt spending and taxing Revenue (taxes) Expenditure (spending) o Monetary policy: economic policies that involve control of, and changes in, the supply of money (slow down economy to know it is in sink) (authority of country that controls cost of very short-term borrowing) Inflation – an economic condition characterized by price increases Employment – to influence govt economic activity Moderate interest rates- What is tax? (Why is tax important?) [ch 17] 475 o Public goods – obtained through taxes; benefits & services, such as parks and

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