Having read the chapter, students should be able to:
Define the nature and scope of public policy.
Discuss the process of public policy formation.
Understand the cost and benefit analysis behind the government's decision whether or not to adopt a policy.
Discuss the controversy behind the government's environmental regulations and the different methods of compliance employed by the Environmental Protection Agency.
Discuss the history behind America's social safety net and the problems it now faces.
Understand the role of the federal government in the U.S. economy, including the role of the Federal Reserve System in regulating economic activity.
