Last modified: 31 May 2022 13:23
This course focuses on the design, implementation and evaluation of various aspects of economic policy. It aims to develop a deep understanding of how the techniques of applied economic policy evaluation both draw upon economic theory and are implemented in practice and to develop a critical appreciation of their associated strengths and weaknesses. The course will include a range of micro- and macro-policy applications to develop students’ skills in applying relevant techniques to real world problems.
| Study Type | Undergraduate | Level | 4 |
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| Term | First Term | Credit Points | 30 credits (15 ECTS credits) |
| Campus | Aberdeen | Sustained Study | No |
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Course Aims
This course focuses on the design, implementation and evaluation of various aspects of economic policy. It aims to develop a deep understanding how the techniques of applied economic policy evaluation both draw upon economic theory and are implemented in practice and to develop a critical appreciation of their associated strengths and weaknesses. The course will include a range of micro- and macro- policy applications to develop students' skills in applying relevant techniques to real world problems.
Main Learning Outcomes
At the end of the course, students will be able to understand the principles underlying design, implementation and evaluation of economic policy. Students will understand how the techniques of applied economic policy evaluation; their theoretical under-pinning; and how they are implemented in practice, and have a critical appreciation of their associated strengths and weaknesses. They will have developed skills in applying relevant economic techniques to real world problems.
Course Content
The course will include a range of applications to show how the methods may be applied in practice, help develop the students' skills in applying the techniques to practical, real work problems and show their limitations. Applications may include appraisals of a large scale infrastructure project, evaluations of government policies such as the minimum wage, welfare-to-work policies, trade policies, electricity market reform, and so forth. the course will cover a selection of four or five topical issues, which may include:
- Market failure and the role of government policy-making and the roles of microeconomic policy analysis; welfare economics foundations; first-best and second-best settings; efficiency and distributional considerations.
- Principles of project appraisal; economic efficiency; inter-temporal choices and discounting; equity considerations
- Economic appraisal from private and public perspectives; measuring benefits and costs in practice
- Econometric approaches to policy evaluation, including social and quasi natural experiments, and consideration of issues of endogeneity and causality.
Information on contact teaching time is available from the course guide.
| Assessment Type | Summative | Weighting | 70 | |
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| Assessment Weeks | Feedback Weeks | |||
| Feedback | ||||
| Knowledge Level | Thinking Skill | Outcome |
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| Assessment Type | Summative | Weighting | 30 | |
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| Assessment Weeks | Feedback Weeks | |||
| Feedback |
Informally through discussions in small group sessions, and formally via feedback sheets. |
Word Count | 2000 | |
| Knowledge Level | Thinking Skill | Outcome |
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There are no assessments for this course.
| Knowledge Level | Thinking Skill | Outcome |
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| Factual | Remember | ILO’s for this course are available in the course guide. |
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