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Students seeking careers in the business world, as well as professional economists in both the private and public sectors require current skills and knowledge of the policy making process and be able to apply their knowledge of economics in the preparation and interpretation of economic policy advice. These practical requirements of the professional and business economist and policy analysts are met in this integrative course that combines economic theory, applied analysis and policy-advising reality.

This course focuses on the role and work of the economist and policy analysts in the development, presentation and interpretation of economic policy advice. Apart from emphasizing applied economic analysis, the course addresses issues associated with the evaluation of a variety of micro and macro-economic policies, the nature of decision-making in the Australian and other economies, the nature, extent and use of economic power and potential conflict among policy objectives. Recurrent themes of the course include economic efficiency of government interventions, social welfare and its distributional consequences and cost-benefit analysis - concepts and practice, and sensitivity. Students are required to complete a minor essay and a major essay where they will cumulatively write their evaluation of an economic policy as part of their assessment.