Public policy is institutionalized proposals to solve real-world problems. Policies govern education, healthcare, employment, finance, and transportation. Policymaking involves multiple actors including politicians, civil servants, and NGOs
Political science is the scientific study of governance and power systems. Modern discipline emerged in late 19th century, separating from political philosophy. American Political Science Association founded in 1903. Political Science Quarterly established in 1886
Minimum wage legislation emerged in late 19th century to address sweatshop conditions. First federal minimum wage established in 1938 at 25¢ per hour. Current federal minimum wage is $7.25 per hour since 2009. 30 states have minimum wages higher than federal minimum
EUDR entered force on 29 June 2023. Regulation aims to prevent deforestation from agricultural expansion. Replaces EU Timber Regulation for timber products. Additional 12-month phasing-in period planned for 2025-2026
Macroeconomics studies economy as a whole, unlike microeconomics focusing on individuals. GDP measures total goods and services produced, with real GDP considering inflation. Unemployment rate indicates labor force's inability to find work. Inflation measured through CPI and GDP deflator, typically moving in same direction
EU is a political and economic alliance of 27 European countries. Nineteen members use euro as official currency. GDP reached 14.45 trillion euros in 2021