Current issues in economic policy
Mr Mike White
6 points * Two 1-hour lectures and one 1-hour tutorial per week * First, second semester * Clayton * Prerequisites: ECO1020 and ECO1030 or ECO1000 and ECO1010
Objectives On completion of this subject students should be familiar with the way in which economists apply economic theory and institutional knowledge of relevant parts of the economy to analyse government policy options and to make recommendations on policy action; able to understand and evaluate current policy debate in the areas of international economics, labour markets and public finance; able to read and evaluate critically economic literature and government publications analysing economic policy.
Synopsis This is an applied policy-oriented subject with three components. (1) International economics explores the welfare gains from international trade, protection policy in Australia, the balance of payments and exchange rate policy. (2) Labour economics explores the factors underlying employment, unemployment and labour productivity, and it analyses policy options to improve Australian labour market outcomes. (3) Public finance considers some basic issues in public expenditure analysis with applications in such areas as health, education and welfare and it considers problems of taxation, with applications to the choice of different taxes and tax design.
Assessment Examination (3 hours): 100%