About Public Choice
Economics traditionally focuses on the behavior of firms and consumers and how individuals interact in market settings. Public choice builds on economic and political theories to analyze the behavior of voters, candidates, legislators, bureaucrats, and the institutions under which they operate.
Public choice uses modern economic tools to study problems that are traditionally in the sphere of political science. (A more general term is 'political economy', an earlier name for 'economics'.)
In particular, public choice models the behavior of voters, politicians, and government officials as (mostly) self-interested agents and analyzes their interactions under a variety of institutional settings. Public choice analysis has roots in positive analysis ("what is") but is often used for normative purposes ("what ought to be"), to identify a problem or suggest how a system could be improved by changes in institutions.
What We Do
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Mission
The Center for Public Choice & Market Process advances understanding of the economic, political, and moral foundations of a free society through education, research, and community engagement.
We achieve this by:
- Supporting student and faculty research grounded in classical liberal ideas
- Hosting public events that encourage open inquiry and civil discourse
- Promoting interdisciplinary collaboration among scholars
- Providing resources to explore public choice, market process, and spontaneous order
- Connecting students to career and leadership opportunities rooted in liberty
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Vision
We envision a vibrant academic community where the ideas of a free society are explored, debated, and applied to real-world challenges.
Our vision includes:
- Inspiring students to think critically about markets, governance, and human behavior
- Becoming a regional and national leader in classical liberal scholarship
- Building a network of scholars, alums, and partners committed to liberty
- Encouraging innovation in teaching and research on public choice and market processes
- Fostering respectful dialogue across ideological perspectives
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Objectives
- To provide an opportunity for students to engage with their peers on the ideas of political economy
- To expose students, faculty, and the broader ºÚÁϳԹÏÍø Community to the ideas of a free society
- To mentor students to the importance of free society in the practices of business, non-profits, and academia after graduation