Handbook 1996 : Faculty of Economics and Commerce (Volume 3 page 202)
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Year 4 Economics.
Credit points: 12.5
Coordinator: Professor J Creedy.
Prerequisite: 316-313 Microeconomics.
Contact: Three hours of lectures and seminars a week.
Timetable: First semester
Objectives:
On completion of this subject students should be able to:
- understand the main theories used in the study of general equilibrium and welfare economics;
- judge the usefulness and the limitations of advanced theory in the area of general equilibrium and welfare economics;
- critically evaluate many contemporary economic policy debates with reference to general equilibrium and welfare economics;
- extend their knowledge of general equilibrium and welfare economics via independent study and by taking advanced subjects in this area.
Content:
Exchange with price-taking behaviour (utility and non-utility approaches), exchange without price-taking, the role of numbers in competition, Nash bargaining solution, social welfare functions, expenditure functions and compensating variations, production of a general equilibrium model, the effects of income and commodity taxes in general equilibrium, labour supply with taxes and transfers, general equilibrium with variable labour supply supply.
Assessment:
A 3-hour examination (80 per cent) and class assignments totalling approximately 2,000 words (20 per cent).
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Handbook 1996 : Faculty of Economics and Commerce (Volume 3 page 202)
Status: Official 1996 Date created: Oct 9 1995 Last modified: Oct 9 1995 Authorised by: Academic Registrar Email enquiries: Course_Information@registrar.unimelb.edu.au
Maintained by: Dept. of Economics, Faculty of Economics and Commerce.
Copyright © University of Melbourne 1995,1996.