Economic Issues and Public Policy
Your upfront cost: $0
Subjects may require attendance
QS RANKING 2022
Times Higher Education Ranking 2022
- Analyse the impact of economic growth and innovation over time on the welfare of contemporary society
- Apply economic concepts and principles to research and analyse economic data and phenomena in the real world
- Explain fundamental economic concepts using text, diagrams and equations
- Utilise and critique a range of economic tools and approaches to draw conclusions and make recommendations.
- 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 take an inquiry-based approach to develop a rich and deep appreciation of how economic principles and frameworks can be used to analyse our world and to inform policymakers. 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. These problems will then be revisited from the perspective of game theory, which highlights the fundamental importance of strategy in a variety of economic settings. From an economy-wide perspective, you will investigate the trends that are shaping our modern society. You will learn how to measure economic activity, inflation and unemployment, and 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: 17 Jul 22 to 14 Oct 22
Textbook information is pending.