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Spring 2012 - 62120 - PA393K - Applied Microeconomics for Policy Analysis

Instructor(s): Lincove, Jane Arnold
Unique Number: 62120
Day & Time: T 9:00 - 12:00 pm
Room: SRH 3.221
Waitlist Information:For LBJ Students: UT Waitlist Information
Final Exam Information:May 9, 2012 - 9:00am - 12:00pm SRH 3.216/219
Course Overview

This course covers microeconomic policy analysis and is usually taken during the first year. It acquaints students with the ways in which economic analysis bears on public policy issues. Students learn to identify the relevant economic analyses for their strengths and weaknesses in relation to the economic principles involved, and to comprehend and assess what professional economists can contribute to the public sector. The first portion of the course covers microeconomic theory with particular emphasis on determining price and output under perfect competition and other forms of market structure; general equilibrium and welfare theory; and the concept of market failure, including public goods, externalities, and imperfect market structure. The second portion of the course provides a rigorous coverage of the methodology of cost-benefit analysis and demonstrates its application through examination of specific case studies.

Section Description

Course Objective

This course will provide an analytic framework for policy analysis and public management with a focus on understanding economic markets, mitigating market failures, and avoiding government failures through effective governance arrangements and public policies.

At the end of the course students will be able to:

  • Apply economic models to policy problems
  • Use economic efficiency and equity as criteria for evaluating policies
  • Identify sources of market failure and appropriate remedies
  • Identify sources of government failure and appropriate remedies

Assignments & Grading

Grades consist of midterm and final exams, one case analysis, and class participation.Class participation includes completion of four problem sets to help you learn the material, and active participation in weekly class discussions.

  • Midterm Exams - 40%
  • Final Exam - 30%
  • Case Analysis - 15%
  • Problem Sets - 15%

Textbooks

Microeconomics (5th edition) by Pindyck & Rubenfeld

Policy Analysis: Concepts and Practices (4th edition) by Weimer & Vining