ECM184: Economics of Public Policy

Module code: ECM184

Module provider: Economics; School of Philosophy, Politics and Economics

Credits: 20

Level: Postgraduate Masters

When you'll be taught: Semester 1

Module convenor: Professor Giovanni Razzu, email: g.razzu@reading.ac.uk

Pre-requisite module(s):

Co-requisite module(s):

Pre-requisite or Co-requisite module(s):

Module(s) excluded:

Placement information: NA

Academic year: 2024/5

Available to visiting students: No

Talis reading list: Yes

Last updated: 23 May 2024

Overview

Module aims and purpose

This module introduces and examines key economic tools for the analysis of public policy. Threshold concepts and tools will be applied to and illustrated through a range of public policy problems. Seminars will enable and further prepare students to apply critical analysis to current public policy issues.

The aim of the module is to provide students with key micro- and macro-economic tools used to analyse and evaluate public policies. Policies will be examined according to efficiency and equity criteria with seminar time devoted to debating the meaning, measurement and relative importance of these criteria under different assumptions, global perspectives and economic systems.

Module learning outcomes

By the end of the module, it is expected that students will be able to:

1. Have developed an understanding of key economic tools and concepts employed in economic analysis of public policy;
2. Identify and critique key assumptions associated with the economic tools and concepts;
3. Analyse and evaluate alternative policy outcomes against different evaluation criteria (efficiency and equity).

Module content

The module is roughly structured into two parts. In the first part, students will be taught the key theoretical approaches in both macroeconomics and welfare economics to understand the rationale for government intervention. The second part will focus on applying the key concepts to a range of real-world issues, such as inequality, financial and debt crises, the labour market, education and so on.

Some of the content covered is as follows:

• Macro foundations Part 1
• Macroeconomics for Public Policy
• Foundations of microeconomics
• Linking micro and macro and behavioural economics approach
• Tools for Policy Evaluation: cost benefit analysis
• Financial and sovereign debt crisis
• Government and labour market
• Inequality
• Tools for Policy evaluation : Additionality impact assessment
• Government and higher education

Structure

Teaching and learning methods

Lectures will be devoted to formally covering the main module material and to introducing theoretical tools. Seminars will be used to explore key concepts and tools in practice and develop a global perspective of criteria for evaluation of public policies. Attendance at seminars is compulsory. Students are expected to prepare for seminars and actively contribute to discussions and debate as students’ experience, prior learning and cultural context will form an essential part of broadening the perspective of the assessable learning outcomes. Lecture slides and additional teaching material will be posted on blackboard. Assessment is by coursework only and feedback on coursework will form an integral part of the learning process.

Study hours

At least 24 hours of scheduled teaching and learning activities will be delivered in person, with the remaining hours for scheduled and self-scheduled teaching and learning activities delivered either in person or online. You will receive further details about how these hours will be delivered before the start of the module.

Please note the independent study hours above are notional numbers of hours; each student will approach studying in different ways. We would advise you to reflect on your learning and the number of hours you are allocating to these tasks.

Semester 1 The hours in this column may include hours during the Christmas holiday period.

Semester 2 The hours in this column may include hours during the Easter holiday period.

Summer The hours in this column will take place during the summer holidays and may be at the start and/or end of the module.

Assessment

Requirements for a pass

Students need to achieve an overall module mark of 50% to pass this module.

Summative assessment

Penalties for late submission of summative assessment

The Support Centres will apply the following penalties for work submitted late:

Assessments with numerical marks

• where the piece of work is submitted after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for that piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of three working days;
• the mark awarded due to the imposition of the penalty shall not fall below the threshold pass mark, namely 40% in the case of modules at Levels 4-6 (i.e. undergraduate modules for Parts 1-3) and 50% in the case of Level 7 modules offered as part of an Integrated Masters or taught postgraduate degree programme;
• where the piece of work is awarded a mark below the threshold pass mark prior to any penalty being imposed, and is submitted up to three working days after the original deadline (or any formally agreed extension to the deadline), no penalty shall be imposed;
• where the piece of work is submitted more than three working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

Assessments marked Pass/Fail

• where the piece of work is submitted within three working days of the deadline (or any formally agreed extension of the deadline): no penalty will be applied;
• where the piece of work is submitted more than three working days after the original deadline (or any formally agreed extension of the deadline): a grade of Fail will be awarded.

The University policy statement on penalties for late submission can be found at: https://www.reading.ac.uk/cqsd/-/media/project/functions/cqsd/documents/qap/penaltiesforlatesubmission.pdf

You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.

Formative assessment

Formative assessment is any task or activity which creates feedback (or feedforward) for you about your learning, but which does not contribute towards your overall module mark.

Reassessment

Additional costs