University of Kent

Description

In this module Economics is used to understand and critically assess economic policy. A major consideration is the role of the market and government in achieving goals of equity and efficiency. By introducing the economic evaluation of policy, the module represents an important component of an economist's training. The module complements the core Stage 2 modules by focusssing on the policy application of economic concepts and provides an introduction to material which may be studied in greater depth in Stage 3 options.

The Autumn term sets up a framework for policy analysis and introduces students to a range of microeconomic policy issues such as competition, inequality, unemployment and inactivity, the environment, and transport. The Spring term explores macroeconomic policy issues with particular emphasis on inflation and monetary targeting. This modules uses knowledge and understanding gained from the Stage 1 Economics and Stage 2 Microeconomics and Macroeconomics modules.

Learning outcomes

On completion of this module, you will have

• deepened your understanding of the formation, consequences and potential of policy
• understood the role of the market and government in realising society's goals in relation to equity and efficiency
• understand the concepts and frameworks used by economists to appraise policy
• have learnt how to carry out economic evaluation of policy
• be more critical of policy debates conducted in the media and by politicians
• have a better understanding of government intervention in modern economies and its consequences
• be practised in developing a logical, coherent argument both in writing and verbally

Reading list

Preliminary Reading:

M. Sawyer, The UK Economy (16th edn.), Oxford University Press, 2005
N. Barr, Economics of the Welfare State (4th edn.), Oxford University Press, 2004
R. Dickens, P. Gregg & J. Wadsworth, The Labour Market Under New Labour, Palgrave, Macmillan, 2003

Factsheet

Credits	30 [15 ECTS]
Level	Intermediate
Term	(Stage 2) Autumn and Spring
Availability
Exclusion	Not available to students taking EC500 Microeconomics
Pre-requisites & Co-requisites:	Stage 1 Economics, and Mathematics and Statistics for Economics and Business Stage 2 Microeconomics and Macroeconomics
Assessment	100% coursework, consisting of two oral presentations (20%), two reflective summaries (10%), two class tests (30%) and two extended 3000 word essays (40%)
Contact hours	24 lectures, 4 workshops and 20 seminars