In order to design alternatives of solution to solve problems in societ, you need to understand three main policy instruments, such as regulation, fiscal instruments, and behavioral science. This course will teach the role of economic regulation in addressing public issues. You will be guided to delve into various types of problems that are appropriately solved with economic instruments. Additionally, you will learn the role of legal regulatory instruments as mechanisms for controlling public problems. You will also learn about nudges, prospect theory, the endowment effect, and status quo bias to shape individual and societal behavior. Lesson Objectives: a. Be able to identify and formulate problems that are suitable to be addressed with fiscal instruments. b. Understanding the role of legal regulatory instruments in the context of public policy. c. Understanding the principles and basic concepts of behavioral instruments
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