Markets and free enterprise depend on supportive legal and political institutions. The course exposes students to the U.S. political economy. Important relationships between market development, the legal frame-work and the political system are presented. The U.S. and Wyoming constitutions are studied to show their importance to free enterprise. Topics deal with public choice, cost-benefit analysis in policy, the importance of property rights and regulation.
Attention is given to the theory of factor prices and topics on welfare economics.
An introduction to the entire area of money and public finance. Oriented towards students wishing to obtain a broad general understanding of importance of money and public finance upon economic activity. Covers money and private financial institutions, monetary theory and policy, as well as public finance and fiscal policy. This introductory course examines in detail the relationship between the economy and the natural environment. Primary attention is given to efficient environmental management and policies.