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This subject focuses on the application of economics to the analysis of policy issues facing governments in Australia and overseas. The subject begins with a general introduction on the application of principles of microeconomics for guiding the formulation of policy options and their interpretation. It then explores in detail specific topics drawn from health economics, microeconomic reform, income distribution, poverty or other relevant policy areas. For each specific topic the subject presents and evaluates results in the literature and analyses future policy options and their effects.
Intended learning outcomes
- Explain the principles of microeconomics in relation to policy development.
- Explain how these principles guide policy in product markets.
- Analyse the main ways concern about equity is manifest in economic policy.
- Evaluate the measurement of social welfare, inequality and poverty.
- Describe the means of and rationale for redistribution in an economy.
- Evaluate the structure of the tax-transfer system in the economy.
- Identify the main characteristics of the industries of education and health services.
- Analyse the main ways economic theory is used to explain family formation and function.
- Critically evaluate contemporary policy debates with reference to economic principles as applied to education, health, and families.
High level of development: written communication; application of theory to practice; interpretation and analysis; critical thinking; synthesis of data and other information; evaluation of data and other information.
Moderate level of development: oral communication; accessing data and other information from a range of sources; receptiveness to alternative ideas.
Some level of development: collaborative learning; problem solving; team work; statistical reasoning; use of computer software.
Last updated: 17 February 2020