- Code POGO8081
- Unit Value 6 units
- Offered by Crawford School of Public Policy
- ANU College ANU College of Asia and the Pacific
- Course subject Policy and Governance
- Areas of interest Policy Studies
- Academic career PGRD
- Prof Robert Breunig
- Mode of delivery In Person
Second Semester 2020
See Future Offerings
All activities that form part of this course will be delivered remotely in Sem 2 2020.
This course presents a systematic way of thinking about economic principles and the role of government. The course will ensure participants understand the nature and role of markets. Governments interact with the economy in general and markets at all levels, ranging from market design to hybrid public-private programs, from policies designed to provide incentives or disincentives to market and other behaviours, to incorporating behavioural and economic principles in government itself. The course will identify the economy and how we measure it. It will frame public budgeting for the financing of government through taxation, borrowing and other means and will introduce concepts of deficit and government debt, fiscal austerity, economic stimulus and other fiscal policy approaches.
The course will provide a framework for understanding the strengths and limits of markets as a form of social organization and for identifying the precise nature of market failure, the objectives of public policy and forms of government intervention, for example by regulation, expenditures, service provision, redistribution and taxation. Participants will examine the efficiency of resource allocation in the economy as a whole and at the micro level in decision making by individuals, firms and government actors. The idea of the efficiency of resource allocation will be emphasised and developed by providing concrete examples and applications.
Upon successful completion, students will have the knowledge and skills to:Upon successful completion of this course, students will have the knowledge and skills to:
• Demonstrate deep knowledge and understanding of the role of governments and markets and economic principles including the key debates in Australia and a global context
• Evaluate key concepts of the economy including measurement, national income, growth
• Critically analyse core monetary institutions, the concept of money and monetary policy
• Describe the budget and government fiscal framework and to evaluate fiscal policy settings in complex economic environments including fiscal policy instruments and constraints
• Demonstrate understanding of an introduction to tax and welfare policy and public goods
Weekly tutorial exercises and study questions, assignments and mid-semester and final examinations.
In response to COVID-19: Please note that Semester 2 Class Summary information (available under the classes tab) is as up to date as possible. Changes to Class Summaries not captured by this publication will be available to enrolled students via Wattle.
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Requisite and Incompatibility
Prescribed TextsTitle: Principles of Economics
Author: Gans, J., S. King, R. Stonecash, M. Byford, J. Libich and N. G. Mankiw
Publisher: Cengage Learning
Availability: Coop Book Store
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. Tuition fees are indexed annually. Further information for domestic and international students about tuition and other fees can be found at Fees.
- Student Contribution Band:
- 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.
Offerings, Dates and Class Summary Links
Class summaries, if available, can be accessed by clicking on the View link for the relevant class number.