Economic Policy Analysis G (9800.2)

Public policy leaders frequently interact with professional economists. This unit aims to prepare participants for this interaction by developing the skills necessary to become a critical consumer of economic thinking. The unit is organised into three modules. Introduction to the Australian Economy explores the preoccupation that economists have with markets, asking what markets can achieve, and why they sometimes fail. Introduction to the Australian Micro-economy seeks to understand the operation of the economy. It provides a practical understanding of the core economic principles that explain why individuals, companies and governments make the decisions they do. The third module, The Australian Budget, seeks to evaluate the key analytical tools used in budgeting and finance and provide participants with a rudimentary knowledge of the budgetary process in Australia.

Learning outcomes

On successful completion of this unit, students will be able to:
1. Demonstrate an advanced, critical understanding of the main theoretical and policy debates within public policy with a focus on the economic theories and aspects in policy-making in Australia;
2. Apply selected micro and macro economic theories and models to specific applied problems public policy-making in Australia;
3. Practice in now to design and model economic policy options for simple and complex issues;
4. Apply knowledge about economic policy-making and policy innovation; and
5. Reflect on the features which define 'quality' and 'value' in economic policy analysis and advisory work, including strategies for enhancing performance and capability of the policy system.

Graduate attributes

1. UC graduates are professional - use creativity, critical thinking, analysis and research skills to solve theoretical and real-world problems
1. UC graduates are professional - work collaboratively as part of a team, negotiate, and resolve conflict
1. UC graduates are professional - communicate effectively
1. UC graduates are professional - employ up-to-date and relevant knowledge and skills

Prerequisites

None.

Corequisites

None.

Incompatible units

None.

Equivalent units

None.

Assumed knowledge

It is normally expected that students will hold a Bachelor degree in a cognate subject or possess relevant practical experience in a cognate profession.