Economic Issues and Public Policy
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Subjects may require attendance
- 31 Jul 2023
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Critically evaluate the relationships between macroeconomic variables and their impacts on business and individuals.
Research and critically analyse current issues and/or events in the economy.
Use models to predict the impact of changing market conditions and to suggest solutions to economic problems.
Explain fundamental economic concepts using text, diagrams, equations and other means.
Analyse a range of public policy responses and their impacts on society.
- • Economic growth and the wealth of nations.
- • Demand and supply applications.
- • Game theory.
- • Firms' production, costs and profit maximisation.
- • Elasticity and total revenue.
Past La Trobe University students who have previously completed BUS1ECW (Modern Economies in a Changing World) are ineligible to enrol in this subject
No additional requirements
In this subject you will undertake research into current economic issues and apply economic concepts and frameworks to critically analyse problems and suggest appropriate public policy responses to them. You will learn how the forces of demand and supply coordinate the behaviour of individuals and businesses in the market and how government policy settings affect those market outcomes. You will study the decisions that businesses make in determining how much to produce and at what cost and analyse how the market structures and public policy settings affects firms’ choices. From an economy-wide perspective, you will investigate how to measure economic activity, inflation and unemployment, and you will examine the factors that influence these variables and the impacts on individuals, businesses and governments.
- Five in-class or online formative exercises broadly equivalent to 1,200 words. (20%)
- Individual assignment equivalent to 1,000 words (30%)
- One 2-hour final examination equivalent to 2,000 words. (50%)
Current study term: 30 Jul 23 to 27 Oct 23
Textbook information is pending.