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Introduction to Economic Design (ECON90069)

Graduate courseworkPoints: 12.5On Campus (Parkville)

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Overview

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This subject is the first of the market design program. The program is designed to offer opportunities for government professionals to extend their understanding of how economic design principles and mechanisms can improve a range of procurement and other resource allocation decisions. Economic design provides a valuable skillset for public policy professionals as they diagnose and explore a range of policy problems, as well as potential solutions. Economic design provides a framework to understand the strategic interactions between parties in a given environment. The course will introduce students to the design and maintenance of markets and other economic institutions: drawing upon game theory and its important applications in matching markets, auctions, and incentive design. A group of staff will be teaching the course. Each topic will be taught by the expert who has extensive experience in in both theory and practice.

This subject will comprise two modules. Module 1 ‘Introduction to Economic Design and understanding Strategic Behaviour’ provides an overview of the economics models to be presented in the course. Module 2 ‘Auctions and Secondary Markets’ will outline the role of these approaches to procurement and other government purchasing activities.

Intended learning outcomes

After completing this subject, participants should:



  • Understand the key theories and tools that form part of the economic design discipline
  • Be able to diagnose policy problems using an economic design framework in auctions and secondary markets
  • Identify potential mechanisms that could be used to solve problems in auctions and secondary markets and be able to explore some basic advantages/disadvantages of mechanisms.

Generic skills

  • Communication skills, written and verbal
  • Research skills in completing assignments
  • Teamwork skills in completing assignments
  • Analysis of relevant options for effective decision-making

Last updated: 3 November 2022

Eligibility and requirements

Prerequisites

None

Corequisites

None

Non-allowed subjects

None

Inherent requirements (core participation requirements)

The University of Melbourne is committed to providing students with reasonable adjustments to assessment and participation under the Disability Standards for Education (2005), and the Assessment and Results Policy (MPF1326). Students are expected to meet the core participation requirements for their course. These can be viewed under Entry and Participation Requirements for the course outlines in the Handbook.

Further details on how to seek academic adjustments can be found on the Student Equity and Disability Support website: http://services.unimelb.edu.au/student-equity/home

Last updated: 3 November 2022

Assessment

Additional details

  • Class participation which includes class discussion and participation in class experiments, (12% - 6% each)
  • 4 x 1,000 word case study and reflection essay, due 2 weeks after completion of each module, (88%)

Last updated: 3 November 2022

Dates & times

  • May
    Mode of deliveryOn Campus (Parkville)
    Contact hours20 hours (10 x 2 hour workshops)
    Total time commitment170 hours
    Teaching period 4 May 2017 to 12 May 2017
    Last self-enrol date 5 May 2017
    Census date12 May 2017
    Last date to withdraw without fail26 May 2017
    Assessment period ends 9 June 2017

    May contact information

    School of Melbourne Custom Programs

    Currently enrolled students:

    Future students:

  • June
    Mode of deliveryOn Campus (Parkville)
    Contact hours20 hours (10 x 2 hour workshops)
    Total time commitment170 hours
    Teaching period 8 June 2017 to 30 June 2017
    Last self-enrol date12 June 2017
    Census date23 June 2017
    Last date to withdraw without fail14 July 2017
    Assessment period ends31 July 2017

    June contact information

    School of Melbourne Custom Programs

    Currently enrolled students:

    Future students:

  • July
    Mode of deliveryOn Campus (Parkville)
    Contact hours
    Total time commitment170 hours
    Teaching period 3 July 2017 to 26 July 2017
    Last self-enrol date 7 July 2017
    Census date21 July 2017
    Last date to withdraw without fail11 August 2017
    Assessment period ends31 August 2017

Time commitment details

170 hours per 12.5 credit point subject

Last updated: 3 November 2022

Further information

Last updated: 3 November 2022