EC5207 - Contemporary Economic Policy and Social Welfare

Credit points:	03
Year:	2013
Student Contribution Band:	Band 3
Administered by:	School of Business

This subject focuses on microeconomics (i.e. on individuals and on businesses) and microeconomic policy, operating under the assumption that the primary aim of policy is to maximise social welfare. It introduces fundamental questions, discusses institutional details and reviews the microeconomic theory underlying the role of the public sector. It looks at the way in which government policy influences consumer and business behaviour, and at the implications of those changes on social and economic welfare. The subject is tailored to students who (envision to) work at a position that requires advanced economics skills.

Learning Outcomes

• Demonstrate comprehensive ability to use those models to analyse policy changes, making predictions about the possible impact of those changes on different economic agents and on social and economic welfare;
• Demonstrate advanced ability to think critically about and evaluate microeconomic policies;
• Demonstrate extensive familiarity with a range of different micro economic models that explain and/or describe consumer and firm behaviours.

Graduate Qualities

• The ability to appraise information critically;
• The ability to use independent judgment to synthesise information to make intellectual and/or creative advances;
• 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 and evaluate a range of potential solutions to relevant problems;
• The ability to encompass and use methods and conceptual advances in areas of knowledge cognate to their central area(s) of expertise;
• The potential to lead and contribute to projects effectively and efficiently;
• The ability to communicate the methodology, results and implications of their research in a manner appropriate to different purposes and audiences.

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

Availabilities
Townsville, Internal, Study Period 2
Census Date 29-Aug-2013
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.