Public Policy and Welfare
UndergraduateTAS-BEA2002025
Enrolments for this course are closed, but you may have other options to start studying now. Book a consultation to learn more.
- Study method
- 100% online
- Assessments
- 100% online
- Entry requirements
- Prior study needed
- Duration
- 14 weeks
- Start dates
- 24 Feb 2025
- Loan available
- HECS-HELP and FEE-HELP available
Public Policy and Welfare
About this subject
Upon completion of this subject, the student should be able to:
- Use economic concepts and theories to analyse economic decisions.
- Apply economic theory to identify public policy issues and how public policy is influenced by efficiency and equity.
- Apply economic models to analyse key public policies.
- Effectively communicate economics in written format.
- Module 1: Introduction and Review of 1st year ( Models and Terms ; Supply & Demand ; Arbitrage, Price Differences & Law of One Price ; Elasticity)
- Module 2: Budget Constraints, Preferences and Utility (The Budget Constraint; Preferences and Indifference Curves; The Marginal Rate of Substitution; Utility and Utility Functions)
- Module 3: Choices, Public Policy and Demand (Individual’s Choices and Public Policy; Deriving Demand ; Demand Functions)
- Module 4: More About Demand ( How Individual’s Choices and Demand React ; Substitution and Income Effects; Decomposing Changes in Demand; Market Demand)
- Module 5: Quotas, Vouchers, Taxes and Subsidies (Quotas and Vouchers; Fringe Benefits and their Taxation; Taxes in the Supply & Demand Model; Taxes & Subsides in the BC-IC Model)
- Module 6: Applications II – Labour/Leisure Choices ( The Australian Labour Market ; Deriving the Labour Supply and Participation Rates; The impact of welfare payments, clawback, property income, penalty rates, minimum wages, child-care on the labour supply.)
- Module 7: Applications III– Education (The Australian Education System and its Funding.; The choice between Public and Private education.; An evaluation of education funding systems: full public, full private, public-private hybrid, voucher system. )
- Module 8: Applications IV – Intertemporal Choice ( Borrowers and Savers; Rate of Time Preference, Discounting and Interest Rates; The impact of interest rates, inflation, credit constraints, changes in future income)
- Module 9: Inequality, Incentives and Luck ( Effort Luck and Taxes Game; The trade-off between productivity and inequality.)
- Module 10: General Equilibrium (GE) (Simple GE using Demand and Supple; Types of Efficiency and Competitive Equilibrium; Fundamental Welfare Theorems; Distortions in GE )
- Module 11: Social Welfare ( Motivation and Morals; A Brief History of Welfare Economics; Social Welfare Functions)
TAS-BEA200 Public Policy and Welfare shows how economic theory can be directly applied to explain the behaviour of individuals and help solve the decisions that policymakers face. The subject introduces and uses the neoclassical theory of consumer behaviour to initially explain how individuals respond to changes in prices, wages, interest rates and income and how to measure their welfare. The subject then considers both market and non-market public policy options such as sin-taxes, the impact of subsidies, free education vs. vouchers, welfare payments and clawback. The subject concludes by examining concepts of efficiency and social welfare and their measurement in a general equilibrium framework. This subject is a core subject in the Bachelor of Economics (TAS-ECO-DEG) and can be taken as a nominated elective in a wide range of other programs throughout the University of Tasmania.
- Multiple Choice Quizzes x 5 (20%)
- Assignment (40%)
- Microeconomic Policy Analysis (40%)
For textbook details check your university's handbook, website or learning management system (LMS).
Wherever you are, the University of Tasmania brings its island campus to you through a growing range of online programs across art and design, business, education, health, science, sustainability, technology, and more. It’s never too late to switch things up. Kickstart that career you’ve been dreaming about, or upskill for the one you’re in. You’ll also become a part of the world's leading university on climate action.
Learn more about UTAS.
Explore UTAS courses.
- QS World University Ranking 2025, within Australia:
- 20
- Times Higher Education World University Ranking 2025, within Australia:
- 19
Entry requirements
Prior study
You must either have successfully completed the following subject(s) before starting this subject, or currently be enrolled in the following subject(s) in a prior study period; or enrol in the following subject(s) to study prior to this subject:
Please note that your enrolment in this subject is conditional on successful completion of these prerequisite subject(s). If you study the prerequisite subject(s) in the study period immediately prior to studying this subject, your result for the prerequisite subject(s) will not be finalised prior to the close of enrolment. In this situation, should you not complete your prerequisite subject(s) successfully you should not continue with your enrolment in this subject. If you are currently enrolled in the prerequisite subject(s) and believe you may not complete these all successfully, it is your responsibility to reschedule your study of this subject to give you time to re-attempt the prerequisite subject(s).
Others
Prior Skills and Knowledge: Students enrolling in TAS-BEA200 are expected to have the following basic skills in mathematics (from high school): Basic Algebra – manipulation of equations, solving equations. Linear Functions – plotting functions, identifying slope and intercept. Logarithms and Exponentials – index and log laws. An understanding of simple calculus (simple and partial differentiation) is also useful but will be taught as part of the subject.
Additional requirements
- Software requirements - Students enrolling in TAS-BEA200 are also expected to be able to use: MS Excel and MS Word – to perform simple calculations and produce professional reports.
Study load
- 0.125 EFTSL
- This is in the range of 10 to 12 hours of study each week.
Equivalent full time study load (EFTSL) is one way to calculate your study load. One (1.0) EFTSL is equivalent to a full-time study load for one year.
Find out more information on Commonwealth Loans to understand what this means to your eligibility for financial support.
What to study next?
Once you’ve completed this subject it can be credited towards one of the following courses
Bachelor of Business and Bachelor of Economics
UndergraduateTAS-BEC-DEG
UndergraduateTAS-ECO-DEG
Bachelor of Psychological Science and Bachelor of Economics
UndergraduateTAS-PEC-DEG
Single subject FAQs
What’s a single subject?
Single subjects are the individual components that make up a degree. With Open Universities Australia, you’re able to study many of them as stand-alone subjects, including postgraduate single subjects, without having to commit to a degree.
Each of your subjects will be held over the course of a study term, and they’ll usually require 10 to 12 hours of study each week. Subjects are identified by a title and a code, for example, Developmental Psychology, PSY20007.
How can I use single subjects to get into a full degree?
First, find the degree that you would like to study on our website.
If that degree allows entry via undergraduate subjects, there will be information about this under the Entry Requirements section. You will find a list of 2-4 open enrolment subjects you need to successfully complete to qualify for admission into that qualification.
Once you pass those subjects, you will satisfy the academic requirements for the degree, and you can apply for entry.
Our student advisors are here to help you take that next step, so don’t hesitate to reach out when you’re ready! We’ve also made it easier to figure out the right way to get started on our pathways page.
Can anyone help me choose a subject?
Our student advisors are more than happy to help you plan your online study. Get in touch with an advisor by:
How do I pay for my subjects?
You can pay up front with your credit card, or you may be eligible for a HELP loan from the Australian government depending on your citizenship status and where you’ll live during your studies.
For more information about how to pay for your studies visit our fees page or contact a student advisor.
How do I enrol?
When you’ve made your choice, click ‘Enrol now’ on the relevant course page and follow the prompts to begin your enrolment. We’ll ask you to supply some supporting documentation, including proof of your identity, your tax file number, and a unique student identifier (USI) during this process.
Your university will get in touch with you via email to confirm whether or not your application has been successful.
If you get stuck at any time, reach out to us and we’ll talk you through it.
You can also take a look at our online self-service enrolling instructions.
When is the cut-off date for enrolling?
Close of enrolment times vary between universities and subjects. You can check the cut-off dates for upcoming study terms by visiting key dates.