Core Principles 2

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.