Positive Political Economics

Subject ECON90037 (2011)

Note: This is an archived Handbook entry from 2011.

Credit Points: 12.50
Level: 9 (Graduate/Postgraduate)
Dates & Locations:

This subject is not offered in 2011.
Time Commitment: Contact Hours: Lectures and tutorials totalling 3 hours per week
Total Time Commitment: Not available
Prerequisites: ECON30009 Macroeconomics or equivalent; ECON30010 Microeconomics or equivalent.
Subject
Study Period Commencement:
Credit Points:
Semester 2
12.50
Semester 1
12.50
Corequisites: None
Recommended Background Knowledge: None
Non Allowed Subjects: None
Core Participation Requirements:

For the purposes of considering requests for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Students Experiencing Academic Disadvantage Policy, academic requirements for this subject are articulated in the Subject Description, Subject Objectives, Generic Skills and Assessment Requirements for this entry.

The University is dedicated to provide support to those with special requirements. Further details on the disability support scheme can be found at the Disability Liaison Unit website: http://www.services.unimelb.edu.au/disability/

Contact

Graduate School of Business and Economics
Level 4, 198 Berkeley Street
Telephone: +61 3 8344 1670
Online Enquiries
Web: www.gsbe.unimelb.edu.au
Subject Overview: This subject provides an overview of the field of political economics. Political economics extends the scope of standard economic analysis by assuming that individuals follow their own agenda and maximize their own utility not only in the economic, but also in the political sphere. The following broad areas will be covered: Determinants of institutional quality and its effect on economic performance; models of political competition and (re-)elections; various (so-called) political and institutional failures, including corruption and rent seeking, and delays in welfare-increasing reforms.
Objectives:

On successful completion of this subject students should be able to:

  • Reflect on determinants and effects of institutional quality;
  • Explain different models of political competition;
  • Understand when re-elections can discipline an incumbent government and when they can lead to inefficient policies;
  • Apply models of political competition to understand observed policies;
  • Discuss the main causes and effects of corruption;
  • Apply lobbying and rent seeking models to understand observed policies;
  • Understand why welfare-increasing reforms are often delayed;
  • Critically evaluate real-world policies from a political economics perspective.
Assessment:
  • 2-hour end-of-semester examination (70%)
  • Class assignment totalling approximately 3000 words (30%)
Prescribed Texts:

You will be advised of prescribed texts by your lecturer.
Breadth Options:

This subject is not available as a breadth subject.
Fees Information: Subject EFTSL, Level, Discipline & Census Date
Generic Skills:

On successful completion of this subject, students should have improved the following generic skills:

  • Written communication
  • Problem solving
  • Interpretation and analysis
  • Critical thinking
  • Receptiveness to alternative ideas

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