Economic Analysis and Policy

This subject focuses on the application of economics to the analysis of policy issues facing governments in Australia and overseas. The subject begins with a general introduction on the application of principles of microeconomics for guiding the formulation of policy options and their interpretation. It then explores in detail specific topics drawn from health economics, microeconomic reform, income distribution, poverty or other relevant policy areas. For each specific topic the subject presents and evaluates results in the literature and analyses future policy options and their effects.

• 1Explain the principles of microeconomics in relation to policy development.
• 2Explain how these principles guide policy in product markets.
• 3Analyse the main ways concern about equity is manifest in economic policy.
• 4Evaluate the measurement of social welfare, inequality and poverty.
• 5Describe the means of and rationale for redistribution in an economy.
• 6Evaluate the structure of the tax-transfer system in the economy.
• 7Identify the main characteristics of the industries of education and health services.
• 8Analyse the main ways economic theory is used to explain family formation and function.
• 9Critically evaluate contemporary policy debates with reference to economic principles as applied to education, health, and families.