Economic Principles and Applications in Public Policy

Recommend course:

Description

Overview:
Public policy decisions made using economic principals can result in the creation of social value, but also outcomes that may not always be desirable.

This two-day course for government and non-government public policy practitioners will introduce analytical ideas in economics to understand common experiences and analyse social problems.  

The nature of economic incentives is introduced to assist in explaining how people go about making decisions.  They are investigated in the context of how markets work, both at the level of individuals and firms (microeconomics) and at the level of an entire economy (macroeconomics).  For microeconomics, one important idea is the notion that markets may not always function properly.  For macroeconomics, the emphasis will be upon understanding how gross domestic product (GDP) and employment are determined, and how they may be influenced by interest rates, other so-called “macroeconomic” variables, and government decisions.

Who should attend:
This course is ideal for government and non-government practitioners who have limited knowledge of economics and would like to learn how economic decisions underly a wide variety of contemporary events and public policy issues.

Learning objectives:
By the end of the course, participants will be able to:

  • understand the perspectives and tools that economics brings to everyday examples.
  • appreciate both the strengths and weaknesses of economics for analysing problems.
  • identify some benefits and costs to a government intervention in outcomes.

Course outline:
Topics will include:

  • Supply, Demand and Market Prices
  • Price Floors, Price Ceilings, Taxes and Subsidies
  • Measuring Social Value in terms of Consumer and Producer Surpluses
  • Unintended Deficits in Social Value
  • Gross Domestic Product (GDP) and Measures of Well-Being
  • Unrealised GDP and Unemployment
  • Money, Interest Rates and Inflation
  • Central Banking and Government Policies

Course format:    
The teaching will be by means of presentations, illustrated examples and interactive discussions.

Presenter:
Antong Victorio

Further details:
If you would like more information about this programme, please contact us on:
Ph: 64 4 463 6556 Email: profdev@vuw.ac.nz

Customised workshops:
Victoria Professional and Executive Development are able to customise many of our workshops to meet specific individual or organisational requirements. Please contact us for further information.