Specialist Certificate in Economic Design

The Centre for Market Design, based in the Department of Economics, is introducing a new postgraduate coursework program called the Specialist Certificate in Economic Design. Economic design provides a framework to understand the strategic interactions between parties in a given environment. The design and maintenance of markets and other economic institutions draws upon game theory and its important applications in matching markets, auctions, and incentive design. The program is aimed at public policy professionals as they diagnose and explore a range of policy problems, as well as potential solutions. Professionals with specific responsibility for procurement and other resource allocation roles will find the concepts and case studies especially valuable. The course comprises 2 x 12.5 subjects. Each subject comprises 2 modules that introduce students to Economic Design, auctions and secondary markets, contracts and matching mechanisms and a capstone experience. The course will be taught by experts in their respective fields with extensive experience in theory and practice.

On successful completion of this program, students should be able to:

• Have a basic understanding of the key theories and tools that form part of the economic design discipline
• Be able to diagnose policy problems using an economic design framework
• Identify potential mechanisms that could be used to solve problems and be able to explore some basic advantages/disadvantages of mechanisms

Students must complete 2 core subjects.

Core subjects

1. In order to be considered for entry, applicants must have completed;

• An undergraduate degree or equivalent qualification, plus at least 5 years documented, full time, relevant professional experience or;
• 10 years relevant professional experience which demonstrates the capacity to successfully undertake the course.

Meeting these requirements does not guarantee selection.

2. In ranking applications, the Selection Committee will consider:

• prior academic performance; and
• prior work experience

3. The Selection Committee may seek further information to clarify any aspect of an application in accordance with the Academic Board rules on the use of selection instruments.

4. The minimum English language requirements for this course are Band 6.5.

The Specialist Certificate in Economic Design welcomes applications from students with disabilities. It is University and degree policy to take all reasonable steps to minimise the impact of disability upon academic study, and reasonable adjustments will be made to enhance a student’s participation in the degree.

For the purposes of considering requests for Reasonable Adjustments under the Disability Standards for Education (Commonwealth 2005), and Students Experiencing Academic Disadvantage Policy, academic requirements for this course are articulated in the Course Overview, Objectives and Generic Skills sections of this entry.

It is University policy to take all reasonable steps to minimise the impact of disability upon academic study, and reasonable adjustments will be made to enhance a student's participation in the University's programs. Students who feel their disability may impact on meeting the requirements of this course are encouraged to discuss this matter with the Student Equity and Disability Support Team: http://www.services.unimelb.edu.au/disability/

Further studies maybe achieved through a number of postgraduate programs offered by the Faculty of Business and Economics.

Completion of this program should enable students to achieve the University of Melbourne’s Graduate Attributes in the following areas:

Academic distinction

Participants in this program will develop an in-depth knowledge of Economic Design. They will demonstrate critical, creative thinking and strong reasoning skills. They will demonstrate an ability to apply knowledge, information and research skills to complex problems in a range of contexts.

Active citizenship

Participants in the course will be active, well-informed citizens who make substantial contributions to their workplace and broader society. They will have the potential to be leaders in their profession. Through advocacy and innovation they are able to lead change for a sustainable future.

Integrity and self-awareness

Course participants will be motivated, self-directed and well-organised, with the ability to set goals and manage time and priorities. They will demonstrate an ability to work effectively both independently and in groups. They are also highly self-aware and reflective, with skills in self-assessment, and place great importance on their personal and professional integrity.

On successful completion of this program, students should have enhanced their skills in:

• problem-solving
• analysis of problems and developing strategies to respond to them
• applying theory approaches to real world problems