Microeconomics for policy analysis
Lecturer to be advised
6 points
* One 3-hour session per week
* First semester
*
Clayton
Objectives To develop an understanding of the basic principles of rational behaviour by economic agents, and of resource allocation in a market exchange economy. On completion of this subject students should have an appreciation of how microeconomic principles can be brought to bear to assess key economic issues of interest to managers in both the private and public sectors.
Synopsis The subject is a presentation of standard microeconomic theory. Topics covered include demand and supply; consumer and producer theory; market structure; welfare economics and the role of government. The subject demonstrates how economic tools can be used to shed light on issues of policy concern such as pollution, privatisation, tax incidence, tariff policy, and price support schemes. Applications are stressed throughout with particular emphasis given to current policy debates in Australia.
Assessment Written (exercises and short assignments): 20%
*
Examination (3 hours): 80%
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