EC5207 - Contemporary Economic Policy and Social Welfare

Credit points:	03
Year:	2011
Student Contribution Band:	Band 3
Administered by:	School of Business

This subject uses new application of micro economic theory. It focuses on the way in which government policy influences consumer and business behaviour and the implications on economic and social welfare. Recent microeconomic policy reforms in Australia will be examined and therefore topics may be changed from year to year to ensure the on-going relevance.

Learning Outcomes

• Students completing this subject will have an increased understanding of microeconomic concepts, models and analysis and how these are used in government policy. More specifically, they will be able to:;
• Use a range of different models to explain and/or describe behaviours of consumers and firms;
• Understand some of the key assumptions, problems, strengths and limitations of the relevant models;
• Construct, manipulate and explain a range of simple diagrams associated with the relevant models;
• Use the models to analyse policy changes, making predictions about the possible impact of the changes on different economic actors of the economy, and on social and economic welfare; Apply the knowledge gained from this subject to real world situations.

Graduate Qualities

• The ability to place their research in a broader (preferably international)theoretical, practical and policy context.;
• The ability to think laterally and be original;
• The ability to conceptualise problems;
• The ability to encompass and use methods and conceptual advances in areas of knowledge cognate to their central area(s) of expertise.

Assumed Knowledge:	Introductory subjects in Economics and Statistics
Inadmissible Subject Combinations:	BX3024 EC2003 EC3415

Availabilities
Townsville, Internal, Study Period 2
Census Date 25-Aug-2011
Coord/Lect:	Dr Hong-Bo Liu.
Contact hours:	26 hours lectures 12 hours tutorials
Assessment:	end of semester exam (30%); quizzes or tests (30%); multidraft Essays (40%).

Note: Minor variations might occur due to the continuous Subject quality improvement process, and in case of minor variation(s) in assessment details, the Subject Outline represents the latest official information.