Dr G Michaels, LRB. R438 and Professor R Burgess , LRB.R524.

This is a compulsory course for MPA Public and Economic Policy/MPA Public Policy and Management/MPA International Development/MPA European Public and Economic Policy/MPA Public and Social Policy.

An introductory graduate course providing an economics background suitable for high-level public policy-making. The emphasis is on acquiring sound models and methods suitable for appraising policy-making issues and applicable in a wide variety of contexts. The first term (MT) covers microeconomics and the second term (LT) covers macroeconomics.

MT: Microeconomics: Week 1: Demand and Supply in Competitive Markets. Week 2: Consumer Optimisation: Demand for Goods. Week 3: Consumer Optimisation and Labor Supply. Week 4: Firms' Optimisation the Supply of Goods and the Demand for Labour. Week 5: Monopoly. Week 6: Uncertainty and Insurance. Week 7: Markets and Asymmetric Information. Week 8: Monopolistic Competition and Game Theory. Week 9: Externalities in Consumption and Production. Week 10: Public Goods.

LT: Macroeconomics: Week 1: Growth and poverty. Week 2: Institutions and economic performance. Week 3: Regulation and economic performance. Week 4: Human capital and growth. Week 5: Productivity and innovation. Week 6: Unemployment. Week 7: Finance and economic performance. Week 8: Openness and economic performance. Week 9: Economic fluctuations. Week 10: Stabilization and reform.

Lectures EC440: 20 x two hours sessional.

Classes EC440.A 20 hours sessional.

A full reading list will be distributed at the beginning of the course.

A three-hour written examination in the summer term.