We have now nearly seven weeks to the Young Economic Policy Designers workshop. As you may recall the workshop is merely about macroeconomic policymaking and policymaking requires a sound theoretical knowledge. We are so lucky that you have been receiving that in your universities. Upon the standard curricula of your departments, now it is the time to build a common knowledge base for all participants. Otherwise it might not be that easy to foster cooperation among workshop participants. In the following lines we will start working on it. Please note that this is not a homework as you are not considered to be a student in Yep-D. Fulfilling the requirements of this information pack is not optional, on the other hand, as we will all need to have a common vocabulary on July 23rd and 24th.
You are now invited to devote the next two weeks to refreshing your knowledge on the following. You can use any respectable resource like your earlier textbooks, encyclopedias, handbooks, lecture notes or web pages of respected institutions. Homework sites or ordinary blogs might not be a wise choice. Remember that internationally renowned textbooks are the best tie-breakers when two different resources deliver different information on the same thing.
Let’s begin with policy. Obtain a formal definition of policy and rewrite it in your own words. In a way, you are expected to have your own definition. Once you are done with this, you can start elaborating the definition of policymaking.
We believe design is an integral dimension of policymaking. Some may argue against that view, yet a design perspective is mostly useful to a holistic understanding. By the way, what does holistic mean?
It is often said that good analysis is essential for reliable synthesis. So, what is analysis? What is synthesis? Do you think synthesis is in connotation with design? How can analysis be good? What is reliability? What is the meaning of Garbage In Garbage Out?
Can somebody develop useful policies in the absence of sound/scientific knowledge? Do you agree with the view that policymaking is more of an art rather than science?
Have you ever heard about the Ockham’s Razor (sometimes written as Occam’s Razor) or any philosophical razor principle? Have you heard about the principle of parsimony? While building a model or writing down a project report, your professors often say Keep It Small and Simple (or Keep It Stupid Simple). Do you observe any parallels among the key terms mentioned in this paragraph?
You have possibly heard about Jan Tinbergen, famous scientist, policymaker and Nobel laureate. Indeed, he visited Turkey in 1960s and contributed to founding of the State Planning Organization. Please go ahead and read about him. At one point, you will encounter and read about the Tinbergen Rule. What does the Tinbergen Rule say? Is it a strict rule or more of a principle? We believe you will somehow benefit the rule during Yep-D, do you agree?
Anything written on this page is open to inquiry so we avoided highlighting or underlining words, terms or phrases. Please feel free to research and inquire.
Your turn now.