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Y.C. Richard Wong

Economic concepts often give a fresh and unobvious perspective when applied to the study of how the state, law, and the economy functions and are interrelated. This course teaches students essential economic concepts in an intuitive manner relevant to the study of political economy. Part One of the course is focused on developing the essential economic concepts. These are then applied to the study of the nature of the liberal democratic state and why it has to be a limited state in contrast to a populist democratic one.

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Economic concepts often give a fresh and unobvious perspective when applied to the study of how the state, law, and the economy functions and are interrelated. This course teaches students essential economic concepts in an intuitive manner relevant to the study of political economy. Part One of the course is focused on developing the essential economic concepts. These are then applied to the study of the nature of the liberal democratic state and why it has to be a limited state in contrast to a populist democratic one.

Topics include the contractual nature of the state, public versus private goods, property rights and economic externalities, the logic of collective action, social choice theory, agenda control, the art of manipulation, and the compatibility of two ideas of liberty with the democratic state.

The use of interdisciplinary materials, empirical inference, game theoretic simulation, and cross-referencing with political philosophies and well-known historical cases, provide students an opportunity to connect different perspectives and deepen their understanding of the democratic state in a free society using economic concepts.

The economic concepts developed in Part One of the course will continue to be useful in the other three parts. Part Two covers the nature of the authoritarian state and party rule, rent seeking activity and its economic consequences, and interrelationships between democracy and economic growth. Part Three covers rule of law and their legal origins, consequences of legal origins for growth, law or state as determinants of economic growth, and transition from dictatorship to democracy and their permanence. Part Four is a study of nature of politics in pre-industrial states with examples drawn from China, Europe, the Islamic world, and India. We also discuss the relevance and limitations of the economic approach to the study of law and politics.

以經濟概念研究國家、法律和經濟作用,與及如何相互關聯時,往往產生一種新鮮但不明顯的觀點。 本課程以與政治經濟學研究相關的直觀方式教授學生基本經濟概念。 課程的第一部份著眼於發展基本經濟概念,然後將這些應用於研究自由民主國家的性質,以及為什麼它必須是一個有限的國家,而不是民粹主義的民主國家。

主題包括國家的契約性質,公共與私人物品,財產權和經濟外部性,集體行動的邏輯,社會選擇理論,議程控制,操縱藝術,以及民主國家的兩種自由觀念的兼容性。

跨學科材料的使用,經驗推理,博弈論模擬以及與政治哲學和著名歷史案例的交叉參照,使學生有機會利用經濟概念將不同的觀點聯繫起來,加深對自由社會中民主國家的理解。

本課程第一部份所談及的經濟概念在其他三個部份亦會談及。 第二部份研究威權國家和政黨統治的性質,尋租活動及其經濟後果,以及民主與經濟增長之間的相互關係。 第三部份包括法治及其法律淵源,法律淵源對發展的影響,法律或國家作為經濟發展的決定因素,以及從獨裁到民主的過渡及其永久性。 第四部份是對成為工業國家以前的政治性質的研究,其中的例子來自中國,歐洲,伊斯蘭世界和印度。 我們還討論了從經濟學角度研究法律與政治的相關性和局限性。

What's inside

Learning objectives

  • To understand how collective decisions are made with the use of economic concepts.
  • How the emergence of states in facilitating collective decisions have reduced incidences of violence and improved human welfare.
  • How economic concepts can be applied to tackle problems and conflicts, for example, through well-defined property rights, use of rule-based methods, voting rules, etc.
  • The application of the theory of social choice to illuminate the liberal and populist interpretation of voting and the relationship with theories of liberty and democracy.
  • Learn how actual politics can be viewed as the use of heresthetics or the art of manipulation to achieve political objectives.
  • 了解如何使用經濟概念作出集體決策。
  • 國家的出現如何促進集體決策、減少暴力事件並改善了人類福祉。
  • 如何應用經濟概念來解決問題和衝突,例如,通過明確的產權,使用基於規則的方法,投票規則等。
  • 應用社會選擇理論來闡明自由主義和民粹主義對投票的解釋以及與自由和民主理論的關係。
  • 了解如何將實際政治視為使用美學或操縱藝術來實現政治目標。

Syllabus

Week1: Some Methodological Issues and Collective Choice Lectures 1 and 2 consider some specific concerns in applying economic analysis to the study of collective action, namely, (1) the rationality assumption, (2) the use of simplifying models, and (3) the problem of the fallacy of composition in studying collective action. Then we will explore the contractual nature of the state. We consider why the sum of individual choices is not collective choice. The reasons for collective choices are to achieve allocative efficiency and redistribution.
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Read about what's good
what should give you pause
and possible dealbreakers
Develops critical thinking skills related to governance, suitable for those seeking deeper political expertise
Taught by Y.C. Richard Wong, a recognized expert in political economy
Explores economic models, theories, and political philosophy for a deeper understanding of modern politics
Covers classical and contemporary perspectives on the nature and role of the state
Requires knowledge of basic economic concepts and strong analytical skills
Focus on applications leans towards students interested in careers involving government or policy

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Reviews summary

Interdisciplinary political economy insights

According to students, 'State, Law and the Economy I' is a largely positive and intellectually rigorous course offered by The University of Hong Kong. Learners praise the expert instruction, particularly the professor's ability to clarify complex economic and political theories and their contagious enthusiasm. The course is highly valued for its interdisciplinary approach, effectively bridging economics, law, and political philosophy, and for providing a strong theoretical foundation with thought-provoking content and insightful game theory simulations. However, some students note that the pace can be very fast, making it demanding for those without a solid background in economics or political theory. The heavy workload, especially the extensive and dense readings, also requires significant dedication.
Course provides deep theoretical foundation, less focus on practical.
"A very solid course that provides a strong theoretical foundation."
"More theoretical than practical, I wished for more real-world case studies beyond the examples provided."
"It's not easy, but the insights gained are invaluable and contribute to a deeper conceptual understanding."
Highly valued for unique blend of economics, law, and philosophy.
"The interdisciplinary approach linking economics, law, and political philosophy was brilliant."
"Loved how it connected economics to real-world political issues..."
"The way it bridges economics and political science is exactly what I was looking for."
Instructor praised for clarity, passion, and engaging delivery.
"The instructor, Professor Lam, is incredibly knowledgeable and passionate. He brought complex economic and political theories to life..."
"The clarity with which the instructor explains complex ideas is unparalleled."
"Professor's enthusiasm is contagious. It challenged my thinking and provided new frameworks for understanding societal issues."
Extensive and dense readings are a significant part of the workload.
"Requires dedication to keep up with the readings."
"The readings were extensive and dense, and I struggled with the amount of academic papers."
"The readings were very heavy. It improved my understanding but required significant self-study beyond the lectures."
Pace is fast, requiring strong prior knowledge and dedication.
"The content is certainly academic and detailed, but I found it quite dense and difficult to absorb."
"I found this course somewhat overwhelming... I don't have a strong background in economics or political philosophy, and it showed."
"Requires dedication to keep up with the readings. Good course for a deep dive into political economy."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in State, Law and the Economy I with these activities:
Review *The Calculus of Consent* by James Buchanan and Gordon Tullock
Reviewing this seminal work by Buchanan and Tullock will deepen your understanding of how economists apply the concepts of rational choice.
Show steps
  • Read Introduction and Chapter 1
  • Summarize the authors' main arguments
  • Consider how these ideas are relevant to the study of political economy
Create a decision tree for a hypothetical public policy scenario
Creating decision trees will help you apply the concepts of rational choice to real-world situations.
Browse courses on Public Policy Analysis
Show steps
  • Identify the relevant factors and outcomes involved
  • Map out the possible paths and consequences of each decision
  • Evaluate the potential trade-offs and risks associated with each choice
Participate in a study group to discuss course readings and concepts
Engaging with your peers in a study group will provide a supportive environment for learning and understanding.
Show steps
  • Find or form a study group
  • Meet regularly to discuss course material
  • Collaborate on assignments and projects
Five other activities
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Show all eight activities
Explore interactive simulations and tutorials on economic modeling
Engaging with hands-on tutorials will reinforce the principles of economic modeling and analysis.
Browse courses on Economic Modeling
Show steps
  • Identify reputable online resources
  • Follow the tutorials and experiment with different model parameters
Participate in online discussion forums related to political economy
Joining online discussions will provide you with diverse perspectives and insights on the topics covered in this course.
Browse courses on Political Economy
Show steps
  • Search for relevant forums or discussion groups
  • Actively participate in discussions
  • Engage with other participants
Attend virtual workshops on economic research methods
Attending workshops will provide you with hands-on training and insights into practical research techniques.
Browse courses on Data Analysis
Show steps
  • Identify relevant workshops
  • Register for and attend the workshops
  • Engage with the presenters and participants
Create a visual representation of the main economic concepts covered in this course
Visualizing economic concepts will aid your comprehension and retention of the material.
Show steps
  • Choose a visual format
  • Identify the key concepts to be represented
  • Create a visually appealing and informative representation
Write a short essay analyzing how economic concepts can be applied to a contemporary political issue
Writing an essay will allow you to synthesize your understanding of economic concepts and their applications in the real world.
Browse courses on Political Economy
Show steps
  • Choose a contemporary political issue
  • Research and gather relevant economic data and literature
  • Develop a thesis statement
  • Analyze the issue in depth
  • Present your conclusions

Career center

Learners who complete State, Law and the Economy I will develop knowledge and skills that may be useful to these careers:
Economist
Economists use economic principles to analyze and solve economic problems. Taking this course in State, Law and the Economy I will be beneficial for people in this career because it helps build a foundation in economic concepts and their application to real-world problems. The course covers topics such as collective decision-making, the role of the state in facilitating collective action, and the use of economic concepts to tackle problems and conflicts.
Policy Analyst
Policy analysts use research and data to inform policy decisions. This course in State, Law and the Economy I will be helpful for a Policy Analyst as it provides a framework for understanding how economic concepts can be applied to policy decisions. The course covers topics such as the role of the state in the economy, the allocation of resources, and the impact of government policies on economic growth and development.
Management Consultant
Management consultants advise businesses and organizations on how to improve their performance. Taking this course will be helpful for someone in this career because it will help develop their analytical and problem-solving skills. It develops knowledge in public versus private goods, property rights and economic externalities, the logic of collective action, and social choice theory.
Financial Analyst
Financial analysts provide investment advice to individuals and organizations. Taking this course in State, Law and the Economy I will be beneficial to those in this career because it helps develop their analytical and problem-solving skills. The course covers topics such as the role of the state in the financial system, the regulation of financial markets, and the impact of economic policies on financial markets.
Lawyer
Lawyers advise clients on legal matters and represent them in court. Taking this course in State, Law and the Economy I should help build a foundation in economic concepts, such as property rights, contracts, and torts, is essential for lawyers. The course also covers topics such as the role of law in the economy and the impact of economic policies on the legal system.
Professor
Professors teach and conduct research in their field of expertise. Those interested in this career may take this course in State, Law and the Economy I as it provides a foundation in economic concepts and their application to real-world problems. The course covers topics such as the role of the state in the economy, the allocation of resources, and the impact of government policies on economic growth and development.
Political Scientist
Political scientists study political systems and institutions. Taking this course may help develop a foundation in political economy and the relationship between the state, law, and the economy. The course covers topics such as the role of the state in the economy, the allocation of resources, and the impact of government policies on economic growth and development.
Journalist
Journalists write, edit, and report on news and current events. Taking this course in State, Law and the Economy I might be useful because it provides a foundation in economic concepts and their application to real-world problems. The course covers topics such as the role of the state in the economy, the allocation of resources, and the impact of government policies on economic growth and development.
Public relations manager
Public relations managers develop and implement public relations campaigns. Taking this course in State, Law and the Economy I may be useful because it provides a foundation in economic concepts and their application to real-world problems. The course covers topics such as the role of the state in the economy, the allocation of resources, and the impact of government policies on economic growth and development.
Sales Manager
Sales managers oversee and manage sales teams. Taking this course in State, Law and the Economy I may be useful because it provides a foundation in economic concepts and their application to real-world problems. The course covers topics such as the role of the state in the economy, the allocation of resources, and the impact of government policies on economic growth and development.
Marketing Manager
Marketing managers develop and implement marketing campaigns. Taking this course in State, Law and the Economy I can be useful because it provides a foundation in economic concepts and their application to real-world problems. The course covers topics such as the role of the state in the economy, the allocation of resources, and the impact of government policies on economic growth and development.
Business Analyst
Business analysts study and analyze business data to identify inefficiencies and opportunities for improvement. Taking this course in State, Law, and the Economy I can be useful because it provides a foundation in economic concepts and their application to real-world problems. The course covers topics such as the role of the state in the economy, the allocation of resources, and the impact of government policies on economic growth and development.
Government Relations Manager
Government relations managers represent organizations' interests before government agencies. This course in State, Law, and the Economy I can be useful for those in this field as it provides a foundation in economic concepts and their application to real-world problems. The course covers topics such as the role of the state in the economy, the allocation of resources, and the impact of government policies on economic growth and development.
Lobbyist
Lobbyists represent special interests before government officials. Taking this course may be useful because it provides a foundation in economic concepts and their application to real-world problems. The course covers topics such as the role of the state in the economy, the allocation of resources, and the impact of government policies on economic growth and development.
Investment Banker
Investment bankers provide financial advice and services to corporations and governments. Taking this course in State, Law and the Economy I may be useful because it provides a foundation in economic concepts and their application to real-world problems. The course covers topics such as the role of the state in the economy, the allocation of resources, and the impact of government policies on economic growth and development.

Reading list

We've selected 11 books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in State, Law and the Economy I.
Provides a comprehensive overview of the public economics field, covering topics such as taxation, public spending, and social insurance. It valuable resource for students who want to learn more about the economic principles that underpin public policy.
This classic text provides a rigorous analysis of the economic foundations of politics. It must-read for students who want to understand how economic incentives shape political behavior.
This seminal work explores the fundamental problems of social choice. It is essential reading for students who want to understand the theoretical foundations of democratic decision-making.
This influential book examines the challenges of collective action. It key text for students who want to understand why groups often fail to achieve their goals.
Provides a comprehensive overview of the theory of rent-seeking. It valuable resource for students who want to understand how individuals and groups seek to obtain economic benefits from government policies.
This classic work of political philosophy provides a pessimistic view of human nature and the state. It valuable read for students who want to understand the historical and philosophical foundations of the state.
This classic essay explores the distinction between negative and positive liberty. It must-read for students who want to understand the different conceptions of freedom.
Provides a practical guide to the art of political manipulation. It valuable resource for students who want to understand how politicians use rhetoric and other techniques to achieve their goals.
Provides a comprehensive overview of the origins of political order. It valuable resource for students who want to understand the historical and sociological foundations of the state.
Provides a comprehensive overview of the relationship between legal institutions and economic development. It valuable resource for students who want to understand how the law can promote or hinder economic growth.

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