Preface. 1. Overview and Introduction. 2. Basic Tools of Microeconomics. 3. Basic Tools of Political Economics. 4. Voters. 5. Electoral Competition. 6. Parties. 7. Lobbies. 8. Political Careers. 9. Public Goods. 10. Public Schools. 11. Higher Education. 12. Redistribution. 13. Health Care. 14. Mobility. Bibliography. Index
Antonio Merlo is the Dean of the School of Social Sciences and the George A. Peterkin Professor of Economics at Rice University, USA. He is also the founding and current director of the Rice Initiative for the Study of Economics (RISE). In 2012, he was elected a Fellow of the Econometric Society. His areas of expertise are political economy, policy analysis, public economics, bargaining theory and applications, and empirical microeconomics.
"Antonio Merlo has written an outstanding text on the economic
foundations of political economy and policy analysis. The book is
written in an engaging style with accessible models and
applications to education, health care, and redistribution
policy.", David P. Baron, Davis S. and Ann M. Barlow Professor
Emeritus of Political Economy and Strategy, Stanford University,
USA"This book on Political Economy and Policy Analysis provides a
theoretically rigorous treatment of a wide range of topics of
current interest. The exposition is extremely clear and accessible.
The Discussion section at the end of each chapter provides an
overview of the recent literature on the topics covered, and places
them in the context of current events. It would be a pleasure to
learn from this excellent advanced undergraduate textbook, or to
teach from it.", Jess Benhabib, Paulette Goddard Professor of
Political Economy, New York University, USA"This book equips
students to explore a range of important policy issues that require
insights from economics and political science. The analysis
presented reflects a range of recent developments that have
transformed the field in recent years once again putting political
economy back in the mainstream of economics. It is suited for a
wide range of students who wish to advance their understanding of
policy-making processes.", Sir Timothy Besley, School Professor of
Economics and Political Science & W. Arthur Lewis Professor of
Development Economics, London School of Economics, UK"The field of
political economy has long lacked a suitable undergraduate
textbook. Antonio Merlo has written a rigorous and engaging book
that meets this need. The book expertly shows students how to
combine economics and politics to shed light on contemporary policy
issues.", Stephen Coate, Kiplinger Professor of Public Policy,
Cornell University, USA"Merlo provides an excellent introduction to
political economy, which I highly recommend to advanced
undergraduate students, or anyone looking for a formal introduction
to the field.", Christopher S. Cotton, Professor of Economics,
Queen’s University, Canada"Has the interrelationship between
economics and politics ever been more apparent? Economics students
need to understand political processes when evaluating economic
policies, while politics students need to understand the workings
of the economy to appreciate the political forces at work. Who
better to guide the student through these subtle interdependencies
than Professor Antonio Merlo. With characteristic clarity and
insight, this book melds the study of economics and politics into
one, integrated whole.", Gene M. Grossman, Jacob Viner Professor of
International Economics, Princeton University, USA"As a fine
theorist and first-rate empiricist, Antonio Merlo’s scholarship has
been at the frontier of political economy. We now have a
well-motivated text that shares his journey. Happily for us there
are no missteps. The path is direct, well lit, and free of
tangles.", Robert P. Inman, Richard K. Mellon Professor, Wharton
School, University of Pennsylvania, USA"In this book, Antonio Merlo
teaches us to apply economic analysis for a deeper understanding of
public policy-making and political competition. Teachers and
students will appreciate the breadth and clarity of the
presentation, from fundamental principles of economics to major
policy issues of our time.", Roger B. Myerson, Nobel Laureate and
Glen A. Lloyd Distinguished Service Professor, University of
Chicago, USA"Throughout the twentieth century the academic study of
economics became increasingly divorced from the political
environment in which economic activity took place despite the
increasing importance of politics on economic decisions. More
recently there has been pioneering academic work that includes
politics in economic analysis. This wonderfully clear book makes
available to undergraduates this work on the interconnection of
politics and economics.", Andrew Postlewaite, Harry P. Kamen
Professor of Economics, University of Pennsylvania, USA"Merlo has
assembled a rigorous political economy text, broad in scope. Books
like this are what's needed to properly educate the next generation
of social scientists.", Kenneth A. Shepsle, George D. Markham
Professor of Government, Harvard University, USA"This scholarly and
well-researched text is just right for the resurgent and growing
contemporary interest in the field of political economy and
philosophy. Rigorously developed and simply explicated models of
local and national politicians and voter decision, with many
applications, form the foundation of this text. An excellent
framework for learning, thinking and doing.", Vernon L. Smith,
Nobel Laureate and George L. Argyros Endowed Chair in Finance and
Economics, Chapman University, USA"Antonio Merlo has written a very
fine, useful, and comprehensive textbook that extremely clearly
sets out various branches of theory that underpin political
economy, public choices, and policies. In the present environment,
where students will want to understand the acquisition, use, and
impact of political power and the representation of `interests’,
Merlo’s textbook is an essential complement to standard economic
theory. It is both demanding and rewarding.", A. Michael Spence,
Nobel Laureate and William R. Berkley Professor of Economics and
Business, New York University, USA
"Antonio Merlo has written an outstanding text on the economic
foundations of political economy and policy analysis. The book is
written in an engaging style with accessible models and
applications to education, health care, and redistribution
policy.", David P. Baron, Davis S. and Ann M. Barlow Professor
Emeritus of Political Economy and Strategy, Stanford University,
USA"This book on Political Economy and Policy Analysis provides a
theoretically rigorous treatment of a wide range of topics of
current interest. The exposition is extremely clear and accessible.
The Discussion section at the end of each chapter provides an
overview of the recent literature on the topics covered, and places
them in the context of current events. It would be a pleasure to
learn from this excellent advanced undergraduate textbook, or to
teach from it.", Jess Benhabib, Paulette Goddard Professor of
Political Economy, New York University, USA"This book equips
students to explore a range of important policy issues that require
insights from economics and political science. The analysis
presented reflects a range of recent developments that have
transformed the field in recent years once again putting political
economy back in the mainstream of economics. It is suited for a
wide range of students who wish to advance their understanding of
policy-making processes.", Sir Timothy Besley, School Professor of
Economics and Political Science & W. Arthur Lewis Professor of
Development Economics, London School of Economics, UK"The field of
political economy has long lacked a suitable undergraduate
textbook. Antonio Merlo has written a rigorous and engaging book
that meets this need. The book expertly shows students how to
combine economics and politics to shed light on contemporary policy
issues.", Stephen Coate, Kiplinger Professor of Public Policy,
Cornell University, USA"Merlo provides an excellent introduction to
political economy, which I highly recommend to advanced
undergraduate students, or anyone looking for a formal introduction
to the field.", Christopher S. Cotton, Professor of Economics,
Queen’s University, Canada"Has the interrelationship between
economics and politics ever been more apparent? Economics students
need to understand political processes when evaluating economic
policies, while politics students need to understand the workings
of the economy to appreciate the political forces at work. Who
better to guide the student through these subtle interdependencies
than Professor Antonio Merlo. With characteristic clarity and
insight, this book melds the study of economics and politics into
one, integrated whole.", Gene M. Grossman, Jacob Viner Professor of
International Economics, Princeton University, USA"As a fine
theorist and first-rate empiricist, Antonio Merlo’s scholarship has
been at the frontier of political economy. We now have a
well-motivated text that shares his journey. Happily for us there
are no missteps. The path is direct, well lit, and free of
tangles.", Robert P. Inman, Richard K. Mellon Professor, Wharton
School, University of Pennsylvania, USA"In this book, Antonio Merlo
teaches us to apply economic analysis for a deeper understanding of
public policy-making and political competition. Teachers and
students will appreciate the breadth and clarity of the
presentation, from fundamental principles of economics to major
policy issues of our time.", Roger B. Myerson, Nobel Laureate and
Glen A. Lloyd Distinguished Service Professor, University of
Chicago, USA"Throughout the twentieth century the academic study of
economics became increasingly divorced from the political
environment in which economic activity took place despite the
increasing importance of politics on economic decisions. More
recently there has been pioneering academic work that includes
politics in economic analysis. This wonderfully clear book makes
available to undergraduates this work on the interconnection of
politics and economics.", Andrew Postlewaite, Harry P. Kamen
Professor of Economics, University of Pennsylvania, USA"Merlo has
assembled a rigorous political economy text, broad in scope. Books
like this are what's needed to properly educate the next generation
of social scientists.", Kenneth A. Shepsle, George D. Markham
Professor of Government, Harvard University, USA"This scholarly and
well-researched text is just right for the resurgent and growing
contemporary interest in the field of political economy and
philosophy. Rigorously developed and simply explicated models of
local and national politicians and voter decision, with many
applications, form the foundation of this text. An excellent
framework for learning, thinking and doing.", Vernon L. Smith,
Nobel Laureate and George L. Argyros Endowed Chair in Finance and
Economics, Chapman University, USA"Antonio Merlo has written a very
fine, useful, and comprehensive textbook that extremely clearly
sets out various branches of theory that underpin political
economy, public choices, and policies. In the present environment,
where students will want to understand the acquisition, use, and
impact of political power and the representation of `interests’,
Merlo’s textbook is an essential complement to standard economic
theory. It is both demanding and rewarding.", A. Michael Spence,
Nobel Laureate and William R. Berkley Professor of Economics and
Business, New York University, USA
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