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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

"This book is about the effort to improve governmental policy-making through the development, beginning in the 1950s, of a new profession of advisors and public managers trained in public policy analysis and strategic public management. The use of such professionals has become commonplace at all levels of government within the United States and in many other countries around the world. A central question that we examine is this: what have we learned about the effects of this new profession on public policies and on policy making? Does policy analysis matter? Closely related to this central question is another one: does what we have learned offer lessons for whether and how policy analysis can be improved? Each of the essays in this book is designed to make us think better and harder about how to improve the practice and use of policy analysis. We consider what we have learned so far about whether and how policy analysis matters, how this learning helps to generate ideas for improving practice, and why learning more about this is an important agenda for future research"--Provided by publisher