POAD9015 Economics and Public Policy

This topic is designed to introduce students to the study of public economics through the analysis of pressing social issues that require policy intervention by the government. It shows students the rationale of government intervention in several relevant and pressing policy areas and how public policy can impact the economy. The topic covers a considerable number of economic concepts, principles, and definitions, while investigating their concrete and real-world application to policy issues and decisions. It also stimulates and develops critical thinking by teaching an economic approach to decision-making applied to specific policy areas.

This topic aims to provide students with a general framework of analytical tools that allow them to understand the relationship between economics and public policy. It is designed around three fundamental steps. First, it provides students with knowledge and understanding of fundamental concepts. Second, it introduces students to real-world issues. Third, it guides students towards applying the concepts learned in order to propose solutions to the issues raised.

1. Understand government interventions in the economy, including its causes, consequences, and the political and/or academic debates surrounding it
2. Identify the major economic issues that require some form of government intervention
3. Understand how public policy impacts the economy
4. Apply a general framework of analytical tools to the understanding and the analysis of the relationship between economics and public policy
5. Identify major social issues that have an impact on the economy through public policy
6. Utilise an economic approach to decision-making in terms of policy formation and/or determining support for different policies