- 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 2021
See Future Offerings
This course is available for in-person and remote (online) learning.
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:
- 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 study questions (20) [LO null]
- Short quizzes (6) [LO null]
- Long quizzes (24) [LO null]
- Assignments (30) [LO null]
- Final exam (20) [LO null]
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For a 6 unit course the standard workload is 130 hours including in-class time and independent study.
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.
Commonwealth Support (CSP) Students
If you 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). More information about your student contribution amount for each course at Fees.
- Student Contribution Band:
- Unit value:
- 6 units
If you are a domestic graduate coursework student with a Domestic Tuition Fee (DTF) place or international student you will be required to pay course tuition fees (see below). Course tuition fees are indexed annually. Further information for domestic and international students about tuition and other fees can be found at Fees.
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Class summaries, if available, can be accessed by clicking on the View link for the relevant class number.