23600 Economic Policy and Analysis (Capstone)

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Subject handbook information prior to 2024 is available in the Archives.

UTS: Business: Economics
Credit points: 6 cp

Subject level:

Undergraduate

Result type: Grade and marks

Requisite(s): (23005c Behavioural Economics OR 23002 Market Design) AND 23567 Intermediate Microeconomics AND 23568 Intermediate Macroeconomics AND (23509 Empirical Methods for Policy Evaluation OR 23572 Applied Microeconometrics)
The lower case 'c' after the subject code indicates that the subject is a corequisite. See definitions for details.
These requisites may not apply to students in certain courses.
There are course requisites for this subject. See access conditions.
Anti-requisite(s): 23003 Economic Policy and Market Design (Capstone) AND 23580 Contemporary Economic Perspectives (Capstone)

Description

This capstone subject synthesises and applies prior learning in Economics to the analysis of contemporary social and business issues and economic policies. Students learn how to apply standard and behavioural economics principles to analyse complex social and economic problems, such as poverty and inequality, environmental degradation and sustainability, Indigenous matters, and discuss examples of policy interventions in these and other domains, e.g. public health, education, labour and financial markets, economic growth. The subject promotes an understanding of how institutional rules and incentives shape economic behaviours and outcomes and develops a set of skills needed for the analysis of applied research and policy questions in Economics.

Subject learning objectives (SLOs)

1.	formulate a real-life policy relevant research question and identify an appropriate analytical framework for its analysis
2.	develop an appropriate empirical strategy to analyse the policy relevant research problem
3.	communicate the research findings clearly to a range of stakeholders

Course intended learning outcomes (CILOs)

This subject also contributes specifically to the following program learning objectives:

• Communicate information clearly in a form appropriate for its audience (2.1)
• Demonstrate ability to work independently and with others as a member of a team to achieve an agreed goal (2.2)
• Analyse and discuss the intended and unintended effects of economic decisions on social welfare, equity, the environment and Indigenous peoples (3.1)

Contribution to the development of graduate attributes

This subject contributes to the Bachelor of Economics learning goals by providing students skills to apply knowledge in Economics to real-life problems in private and public sectors.

This subject contributes to the development of the following graduate attributes:

• Communication and collaboration
• Social responsibility and cultural awareness

Teaching and learning strategies

A combination of lectures, readings, presentations, group discussions and self-directed research is used to develop skills to be applied to economic policy problems. The assessment formats comprising presentations, critique of assigned readings, and a policy report have been designed to help students develop skills relevant to economic policy analysis.

Pre-class activities: The students are expected to complete assigned readings before class in order to understand policy applications of economic problems. Each student will get a reading assigned to them for a more detailed reading. Students will record a presentation of their assigned readings and post it on the discussion part of the learning management system. The other students will watch these presentations and have opportunity to comment on the topic in the discussion part of the learning management system. Questions will be posed to students related to the reading material in class to encourage them to think critically about the topics covered. Students will be put in small groups to discuss some of the questions in class to facilitate collaboration among students. Students will also be encouraged to ask questions during the discussion of reading materials. This interactive structure also provides students with the opportunity to receive instant feedback about their level of understanding.

Individual and team projects: The students are expected to work on a self-directed policy relevant research problem individually and communicate their findings in class in the form of a presentation. Students are expected to develop and to work on their individual projects throughout the semester. They will receive feedback on their projects throughout the semester both from the subject coordinator and from their classmates. The students will present the results of their research project in class at the end of the semester. They will receive feedback on their presentation from the subject coordinator. Students will also work in teams to write a policy analysis paper. Students will receive written feedback on their paper from the subject coordinator.

An aim of this subject is to help you develop academic and professional language and communication skills to succeed at university and in the workplace. During the course of this subject, you will complete a milestone assessment task that will, in addition to assessing your subject-specific learning objectives, assess your English language proficiency.

Content (topics)

Application of Economics Knowledge in

• Inequality
• Education
• Labor
• Health
• Environment
• Other Policy Domains

Assessment

Assessment task 1: Critique of Reading Assignment (Individual)

Objective(s):	This addresses subject learning objective(s): 3 This addresses program learning objectives(s): 2.1 and 3.1
Weight:	40%

Assessment task 2: Project Formulation (Individual)

Objective(s):	This addresses subject learning objective(s): 1, 2 and 3
Weight:	30%
Criteria:	Relevance and motivation of research problem Evidence of knowledge and understanding Appropriateness of research design, methodology, and empirical strategy Scope and depth of analysis Validity of conclusions regarding the role of assumptions and methods Insight regarding the effects of economics decisions and policies Clarity and coherence of oral presentation Clarity and content of presentation slides

Assessment task 3: Policy Analysis (Group)

Objective(s):	This addresses subject learning objective(s): 2 and 3 This addresses program learning objectives(s): 2.2
Weight:	30%
Criteria:	Synthesis of knowledge applied Scope and depth of analysis Insight evidenced in conclusions Coherence of written report

Minimum requirements

Students must achieve at least 50% of the subject’s total marks