6 points, SCA Band 3, 0.125 EFTSL
Undergraduate, Postgraduate - Unit
Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.
Faculty
Organisational Unit
Chief examiner(s)
Associate Professor Vai-Lam Mui
Coordinator(s)
Associate Professor Vai-Lam Mui
Unit guides
Synopsis
Models of decision making in the collective setting, utilising a number of tools, some of which will be familiar microeconomic ones. Economic approaches to collective decision environments, including 'new welfare economics', the 'Chicago' and 'Virginia' schools. Whenever possible, Australian policies will be examined in light of theory.
Outcomes
The learning goals associated with this unit are to:
- understand the issues and analysis of collective decisions
- become more discriminating observers of the political and policy environment
- be able to review market failures and consider the potential for solving these failures in the collective or political setting
- be able to examine problems of free-riding, incentives to vote, interest group influence, bureaucratic behaviour and constitutional frameworks
- understand the economist's role in the process of formulating public policy.
Assessment
Within semester assessment: 40% + Examination: 60%
Workload requirements
Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.
See also Unit timetable information