Political Economics (WS 2019/20)

Prof. Dr. Florian Herold

This course deals with modeling and analyzing the political process and how it influences public choice of policies. While public finance lectures typically focus on understanding which policy intervention a welfare maximizing state should ideally undertake, this Teilmodul “Political Economics” considers political constrains and how the real distribution of powers will distort public policy.

The main purpose of the course to provide students with a toolbox of formal models that allow them to structure and analyze political processes and their influence on public policy, in particular when applied to the European Union. Lectures are in English.


Vorlesung (Prof. Florian Herold)

  • Dienstag, 10.15 - 11.45 Uhr in F21/03.84 Beginn: 15.10.2019

Übung (Markus Schlatterer, M.Sc.)

  • Mittwoch, 8.30 - 10.00 Uhr in F21/02.18 Beginn: 30.10.2019


  1. The Problem of Aggregating Preferences
  2. Electoral Competition
  3. Agency
  4. Redistributive Politics
  5. Dynamic Policy Problems and Public Debt


T. Persson and G. Tabellini, Political Economics – Explaining Economic Policy, MIT Press

Further Literature:

D. Austen-Smith and J.S. Banks, Positive Political Theory I+II, University of Michigan Press

T. Besley, Principled Agents? The Political Economy of Good Government, Oxford University Press