ECO 4554

Economics of State and Local Government

Core Principles
Topic 2: Public Choice

You are expected to master the core principles of the course. That means you know and
understand the principle so that you are able to state the principle, to explain it in some
detail in economic terms, and even to explain it in non-economic terms to a layman. You
will have a number of opportunities during the semester to practice and refine your mastery
of the core principles. The ultimate test of your knowledge of these principles will be the
final examination.

Topic 2 (Simple Majority Rule): Simple majority rule is not an essential element of democracy. Other
voting rules are often more efficient than simple majority rule.