James Cook University Subject Handbook - 2020

EC5207 - Economics of Social Policy

Subject Description

This subject explores the economics behind social policy, which governments use to raise social and economic welfare. The subject starts exploring economic concepts of measuring (changes in) social welfare. Subsequently, the subject discusses the costs (in terms of taxation) and the gains (in terms of expenditure programs) of social policy, applied to some key areas of social policy including the labour market, education and (public) health care. Understanding the economic rationale behind social policy allows students to better anticipate government decision making regarding social policy, which is an essential skill to any student who is or intends to be involved in social policy development or in employment affected by social policy.

Learning Outcomes

• synthesise and interpret theoretical models, concepts and the behaviour of economic agents relevant to social and economic welfare
• use theoretical models and concepts regarding the behaviour of economic agents to critically evaluate the costs and benefits of social policy
• critically evaluate, (applying concepts discussed in this subject), the possible impact of a chosen policy change on affected economic agents and on social and economic welfare

Subject Assessment

• Invigilated > End of semester exam - (35%)
• Non-Invigilated > Assignments - (40%)
• Test/Quiz (Held in SP Week 7) - (25%)

Note that 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.

Assumed Knowledge:  Introductory subjects in Economics and Statistics

Inadmissible Subject Combinations:  BX3024 EC2003 EC3415

Availabilities