• Offered by Research School of Economics
  • ANU College ANU College of Business and Economics
  • Classification Advanced
  • Course subject Economics
  • Areas of interest Economics
  • Academic career PGRD
  • Mode of delivery In Person

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

Upon successful completion, students will have the knowledge and skills to:

Students who successfully complete this course will:

  • understand the different ways to measure welfare changes for individuals and know how to aggregate them;
  • be able to properly interpret compensated welfare changes and know how they relate to actual welfare changes typically isolated in demand-supply diagrams;
  • understand how to construct models and use general equilibrium analysis;
  • use general equilibrium analysis to evaluate the welfare effects of policy changes in a coherent way and be able to explain the economic intuition for the results;
  • be exposed to the applied welfare and public economics literatures and be able to relate the two literatures using conventional welfare economics tools.

Other Information

See the course outline on the College courses page. Outlines are uploaded as they become available. 

Indicative Assessment

  • three (3) hour exam at the end of semester
  • two assignments - 25% in total

The ANU uses Turnitin to enhance student citation and referencing techniques, and to assess assignment submissions as a component of the University's approach to managing Academic Integrity. While the use of Turnitin is not mandatory, the ANU highly recommends Turnitin is used by both teaching staff and students. For additional information regarding Turnitin please visit the ANU Online website.

Workload

3 contact hours plus private study time.

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, 2nd Edn.

Fees

Tuition fees are for the academic year indicated at the top of the page.  

If you are a domestic graduate coursework or international student you will be required to pay tuition fees. Students continuing in their current program of study will have their tuition fees indexed annually from the year in which you commenced your program. Further information for domestic and international students about tuition and other fees can be found at Fees.

Student Contribution Band:
3
Unit value:
6 units

If you are an undergraduate student and have been offered a Commonwealth supported place, your fees are set by the Australian Government for each course. At ANU 1 EFTSL is 48 units (normally 8 x 6-unit courses). You can find your student contribution amount for each course at Fees.  Where there is a unit range displayed for this course, not all unit options below may be available.

Units EFTSL
6.00 0.12500
Domestic fee paying students
Year Fee
1994-2003 $2088
2004 $2160
2005 $3234
2006 $3240
2007 $3240
2008 $3240
2009 $3240
2010 $3240
2011 $3240
2012 $3240
2013 $3240
2014 $3246
International fee paying students
Year Fee
1994-2003 $3234
2004 $3234
2005 $3234
2006 $3534
2007 $3618
2008 $3618
2009 $3618
2010 $3942
2011 $3942
2012 $3942
2013 $3942
2014 $3948
Note: Please note that fee information is for current year only.

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