(Same as Public Policy M127.) Lecture, three or four hours; discussion, one hour (when scheduled). Recommended preparation: courses 10, 40, and one course from Economics 1, 2, 5, 11, or 101. Examination of how public issue life cycle is shaped by (1) economic and political incentives of various actors--business, news media, mass public, organized interests, Congress, the president, regulatory agencies, and courts and (2) ideology, cognitive biases, and ethical reasoning. P/NP or letter grading.