1. By Manuel C. Torres Tommy Kuan
Public Policies By
Manuel C. Torres
Tommy Kuan

2. Key Terms Capitalism Mixed Economy Multinational Corporations
Minimum Wage
Labor Union
Collective Bargaining
Unemployment Rate
Inflation
Consumer Price Index
Laissez-Faire
Monetary Policy
Monetarism
Fiscal Policy
Keynesian Economic Theory
Supply Side Commision

3. More Key Terms Social Welfare Policies Entitlement Programs
Means-Tested Programs
Income Distributions
Poverty Line
Feminization of Poverty
Progressive Tax
Proportional Tax
Regressive Tax
Transfer Payments
Social Security Act of 1935

4. How public policy works
Public Policy- government actions to address some perceived or economical problem
Policy agenda determines which issues will receive consideration in creating a new policy
Issue networks are made of groups of individuals from inside and outside the government that works together to develop a policy in a specific area

5. Types of Policies
Distributive policies- allocate resources to a segment of a society so that a service or benefit is gained
Redistributive policies- take resources from one sector of society and transfer it to another
Regulatory - guide the operations of government programs ex. Regulating business, labor and energy

6. Policy making process
Agenda setting - Problems that are defined as a policy issue that that government needs to take action
Policy formulation- proposals that are made and need to be decided whether to use that policy or not
Adopting the policy - action by the government through executive order , agency regulations or court decision
Implementation - is carrying out the policy and making sure people know about the new policy.
Policy evaluation- analyzing the policy to see how well it is working with the public

7. Regulatory Policies
Regulatory policy are limitations that try to limit what could be done in the marketplace.
Examples of some Regulatory policies include minimum wages, insurance, and banks.
Too much regulations leads to over regulations which ends up hurting businesses, and too little regulations leads to deregulations that ends up sometimes increasing competition, but could potentially end up hurting consumers

8. Economic Policies
Fiscal Policies: Economy is managed through the use controlling taxes and spending.
Supply Side Policies: Belief that the best method for economic growth is lower taxes and fewer regulations.
Monetary Policy: Money is controlled by the government, which allows them to control interest rates