Microeconomic Policy module (BU41020)

This module will illustrate how economists can contribute to the policy process by helping in the formulation of policy problems, the design and implementation of policies, and the evaluation of their performance.

What you will learn

In this module you will explore the use of economic principles to design, guide and interpret various aspects of economic and social policy by examining a limited number of contemporary microeconomic issues.

Topics covered in recent years have addressed a number of Sustainable Development Goals including:

• the trade-off that Governments across the world faced between saving lives and preserving livelihoods in their response to the Covid-19 pandemic
• the importance of taking incentive effects into account in the design of welfare provision, in order to alleviate poverty without discouraging economic self-sufficiency
• the evaluation of the effectiveness of active labour market programmes to help the unemployed find work, among others

The focus on practical economic problems of current policy interest will illustrate to you how economists can contribute to the policy process by helping in the formulation of policy problems, the design and implementation of policies, and the evaluation of their performance.

By the end of the module you will:

• know how to apply economic reasoning to policy issues in a critical manner
• have the ability to discuss, analyse, and evaluate government policy

Assignments / assessment

Research essay (60%)

• an essay based on your choice of microeconomic issue

Set essay (40%)

• choose one option from a set of questions to show your understanding of one of the module topics

This module does not have a final exam.

Teaching methods / timetable

This 15 credit module is divided into four sections, the first of which will briefly consider the microeconomic rationale for government intervention and with the others providing three separate policy case studies.

Teaching will largely take place in lectures which serve to introduce and explain the material covered in each section of the course, with approximately four lectures per section.

There will also be four tutorials held over the course of the module so as to to allow you to review your understanding of the topics based on a set of revision questions, exercise and discussion topic for each section of the course.