ANU - STUDYAT - Applied Welfare Econs

Offered By:	School of Economics
Academic Career:	Graduate Coursework
Course Subject:	Economics
Offered in:	Second Semester, 2010
Unit Value:	6 units
Course Description:	The actions people take are determined by potential welfare gains. Indeed, the gains from trade are what brings buyers and sellers together in markets. Unfortunately, however, not all private actions raise social welfare when markets are subject to taxes of other distortions. This course obtains general equilibrium shadow (or social) prices to identify welfare improving policy changes in these circumstances.
Learning Outcomes:	This course will provide students with a good understanding of conventional welfare economics. It establishes the properties of different welfare measures in a general equilibrium setting to develop a framework for undertaking cost-benefit analysis. In particular, the shadow pricing rules used in policy evaluation. The material is reinforced throughout the course with practical applications
Indicative Assessment:	three (3) hour exam at the end of semester two assignments - 25% in total
Workload:	3 contact hours plus private study time.
Course Classification(s):	AdvancedAdvanced courses are designed for students having reached 'first degree' level of assumed knowledge, which provide a deep understanding of contemporary issues; or 'second degree' and higher levels of knowledge; or for transition to research training programs.
Areas of Interest:	Economics
Eligibility:	At least an average of 65% (or equivalent) in the final two years of an Australian undergraduate degree with introductory level courses in Economics, Statistics and Econometrics.
Prescribed Texts:	Jones, C.M., (2005), Applied Welfare Economics, Oxford University Press, Oxford, UK.
Preliminary Reading:	Tresch, R.W., (2002), Public Finance: A Normative Theory, Elsevier Science Academic Press, San Diego and London, 2^nd Edn.
Programs:	Master of Economics, Master of Applied Economics, Master of Economic Policy, Master of Health Economics, Master of Economics of Development, and Master of International and Development Economics
Other Information:	See Course Website
Academic Contact:	See http://ecocomm.anu.edu.au/courses/course.asp?code=ECON8002

Applied Welfare Economics ECON8002 - Details