Principles of good policy design Managing economic challenges and coming up with policy solutions is a tricky task. While striving to optimize overall wellbeing, every policy decision involves some sort of trade-off. An essential element of good policymaking is to consider these trade-offs by weighing up the costs and benefits, across the short-term and long-term, and identifying the ‘winners’ and ‘losers’ of any
Principles of good policy design
Managing economic challenges and coming up with policy solutions is a tricky task. While striving to optimize overall wellbeing, every policy decision involves some sort of trade-off. An essential element of good policymaking is to consider these trade-offs by weighing up the costs and benefits, across the short-term and long-term, and identifying the ‘winners’ and ‘losers’ of any policy change.
As part of your contribution to the Policy Brief, explain what have you learnt about policy trade-offs? Referring to Economic inequity, give an example of a trade-off that policymakers need to consider. In your discussion, you should refer to the economic concept of
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