ECON 7220 - Challenges Facing Economic Policy Makers
North Terrace Campus - Semester 2 - 2020
General Course Information
Course Code ECON 7220 Course Challenges Facing Economic Policy Makers Coordinating Unit School of Economics Term Semester 2 Level Postgraduate Coursework Location/s North Terrace Campus Units 3 Contact Up to 4 hours per week Available for Study Abroad and Exchange Y Incompatible ECON 7141; ECON 7238 Assumed Knowledge ECON 7011 & ECON 7071 Course Description The course deals with controversial aspects of economic policy faced by governments, focusing on real-world applications of economic insights. Policy challenges addressed in the course will range across different areas of policy. Issues of relevance to both domestic and international policy will be explored as will topics of particular importance in developing countries.
Course Coordinator: Professor Jonathan Pincus
The full timetable of all activities for this course can be accessed from Course Planner.
Course Learning OutcomesOn successful completion of this course students will be able to:
1 Acquire economic insights relevant to policy issues 2 Apply economic analysis to local, state, national and international policy issues 3 Prepare material on and present economic insights with policy relevance 4 Provide and respond to constructive criticism of economic policy analysis 5 Evaluate and synthesize research-based and scholarly literature 6 Demonstrate specialist knowledge in an area of economic policy and research
University Graduate Attributes
This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:
University Graduate Attribute Course Learning Outcome(s) Deep discipline knowledge
- informed and infused by cutting edge research, scaffolded throughout their program of studies
- acquired from personal interaction with research active educators, from year 1
- accredited or validated against national or international standards (for relevant programs)
1,6 Critical thinking and problem solving
- steeped in research methods and rigor
- based on empirical evidence and the scientific approach to knowledge development
- demonstrated through appropriate and relevant assessment
2,3,4,5 Teamwork and communication skills
- developed from, with, and via the SGDE
- honed through assessment and practice throughout the program of studies
- encouraged and valued in all aspects of learning
3,4 Career and leadership readiness
- technology savvy
- professional and, where relevant, fully accredited
- forward thinking and well informed
- tested and validated by work based experiences
3,4,6 Intercultural and ethical competency
- adept at operating in other cultures
- comfortable with different nationalities and social contexts
- able to determine and contribute to desirable social outcomes
- demonstrated by study abroad or with an understanding of indigenous knowledges
1,2 Self-awareness and emotional intelligence
- a capacity for self-reflection and a willingness to engage in self-appraisal
- open to objective and constructive feedback from supervisors and peers
- able to negotiate difficult social situations, defuse conflict and engage positively in purposeful debate
Required ResourcesNot applicable
Recommended ResourcesAccess to textbooks from Intermediate Microeconomics and Intermediate Macroeconomics may be helpful: The content of these two courses is the assumed knowledge of this course.
An additional useful resource is: Jean Hindriks & Gareth D. Myles, Intermediate Public Economics, 2nd edition, MIT Press, 2013. The book contains excellent background discussions (although all necessary materials will be provided by the lecturer).
Online LearningThe course makes extensive use of MyUni to post notes and student project papers, and for communication with the students.
Learning & Teaching Activities
Learning & Teaching ModesThe contact time in this course is made up mainly of one three-hour lecture per week. Given the small class size and important role of student projects, the "lecture" time will have significant student input, including presentations and discussions of projects. In addition to the lecture, individual guidance is provided to the students as they work on their projects. A workshop may also be offered to the students to help them develop their research skills, writing skills and presentation skills. Information about the workshop will be provided on MyUni. Participation in the workshop is optional.
The information below is provided as a guide to assist students in engaging appropriately with the course requirements.
The University expects full-time students (i.e. those taking 12 units per semester) to devote a total of 48 hours per week to their studies. This translates to 12 hours per week for a 3-unit semester course.
The average weekly hours in our course include 4 hours of class time, 6 hours of working on your own project (literature review, project report, and preparation for presentation), and 2 hours of contributing to other students' projects by reading their reports (especially your reviewee's, but also those of all other students) to prepare for in-class and written feedback.
Learning Activities SummaryEarly in the course, the lecturer will introduce key themes such as incentive problems, market failure, government failure, and potential remedies for these failures. The lecturer will also provide examples of economic analysis yielding policy recommendations and tasks directing students to analyse a set of policy issues on their own. As the course progresses, student input into the course will increase, through student projects and class participation.
Policy challenges addressed in the course will range widely across different areas of policy. The lecturer will introduce policy issues such as welfare policy, feeding the world, the tragedy of the commons (e.g. global warming, or over-fishing) and the role of government in promoting innovation, etc.
The course's agenda of policy issues will be influenced by the news and by student interests. Through this flexibility we aim to maximise the course's core objective of real-world relevance. From the beginning of the course, students are encouraged to think about their projects. After the mid-semester break, the course will focus on student projects.
Student presentations will be scheduled as the course progresses. Every student will be a presenter and a discussant. Every presenter will be matched with a discussant.
Students present the current stand of their policy project before finalizing it with the feedback from the presentation and discussion.
Small Group Discovery ExperienceThis course is ideally suited for a small-group discovery experience, for the following reasons:
1. The students' assignment and projects will be closely related to both the lecturer's research interests and the students' interests.
2. It is a small class: its average size the past years has been 16 students, and there never have been more than 24 students.
3. Students are actively participating in classroom discussions.
The University's policy on Assessment for Coursework Programs is based on the following four principles:
- Assessment must encourage and reinforce learning.
- Assessment must enable robust and fair judgements about student performance.
- Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
- Assessment must maintain academic standards.
Assessment Task Due Weighting Learning Outcome Assignment (Literature Review)
35% 1,5,6 Draft policy paper Week 8 1,2,3,6 Presentations (including verbal peer review and discussion) Week 9 4,6 Participation includes Writte Peer Review Week 13 10% 4 Final Policy Paper Week 15 55% 1,2,3,6
This assignment challenges you to gain an understanding of a range of real-world issues by:
- tracking down and discussing relevant economic literature
- summarizing and synthesizing the state of knowledge on a particular topic
- contributing your own insights.
Research project (written and oral presentation) focusing on a key policy issue. Your aim should be to become a "house expert" on that particular issue.
Your project comprises:
- a written report about a particular policy question
- an associated presentation
Class Participation: This consists of a review of another student's project, and contribution to classroom discussion. It is important to give useful feedback on other students' projects. The peer review consists of verbal comments after the author's presentation, plus a peer review document containing comments on the report. All students - not only the reviewer - are expected to prepare for the presentation sessions by reading all the papers that are presented, and to be active participants in the discussions providing feedback to the presenters.
The exact details for each assessment will be posted on MyUni.
SubmissionThe exact due dates of the analytical assignment, peer review document and policy project will be posted on MyUni before the start of the course.
Dates for presentations will be coordinated in class. The first version of your paper is expected to be ready in time one week before your presentation. This will give your fellow students - especially your discussant - time to read it before your presentation. The exact due dates of the analytical assignment, peer review document and policy project will be posted on MyUni before the start of the course.
Late submissions will be subject to a 20% penalty per business day late. Lateness due to medical or compassionate reasons, supported by appropriate documents, will not be subject to penalty.
Grades for your performance in this course will be awarded in accordance with the following scheme:
M10 (Coursework Mark Scheme) Grade Mark Description FNS Fail No Submission F 1-49 Fail P 50-64 Pass C 65-74 Credit D 75-84 Distinction HD 85-100 High Distinction CN Continuing NFE No Formal Examination RP Result Pending
Further details of the grades/results can be obtained from Examinations.
Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.
Final results for this course will be made available through Access Adelaide.
The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.
SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.
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