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Economics of Public Policy

Overview

  • Credit value: 30 credits at Level 6
  • Convenor: Dr Tinghua Yu
  • Assessment: an examination (80%) and coursework (20%)

Module description

In this module we introduce you to the intricate relationship between economics and global public policy, with a strong emphasis on practical data analysis. Through a series of lectures and hands-on projects, you will gain essential skills in using real-world data to investigate economic and policy-related topics. Guided by step-by-step instructions, you will work with both curated and publicly available datasets, producing your own analytical reports.

A key focus of the module is on teaching the fundamentals of data-driven analysis, providing a foundation in economic principles that you need to confidently engage with economists and policymakers on global policy issues. You will examine how markets achieve various economic objectives, the reasons for market failures, and the potential of government interventions to improve outcomes.

By mastering core economic principles and applying them to real-world data, you will be better equipped to critically evaluate global policy issues and engage with economists and policymakers. Whether your goal is to work in government, international organisations, non-profits or the private sector, this module will empower you to meaningfully contribute to the development and assessment of policies in today's interconnected world.

The module is relevant to anyone wishing to pursue a career in policy development, government, academia or consultancy.

Learning objectives

By the end of this module, you will:

  • have a solid foundation in fundamental economic principles that shape public policy decisions
  • have a deep understanding of the complex relationship between economics and public policy
  • understand the diverse public policy goals societies pursue and the trade-offs involved in achieving them
  • be able to apply economic concepts to analyse and interpret the effects of public policies
  • be able to hone your analytical skills to identify market limitations and evaluate the need for policy interventions
  • have practical data-handling and presentation skills for use in academic projects or professional settings
  • understand the meaning and significance of key statistical concepts, such as measures of inequality, and their importance in policy analysis
  • have strengthened your critical-thinking skills by applying economic principles to global policy issues
  • be able to translate economic theory into practical insights by applying acquired knowledge to real-world scenarios
  • be able to communicate economic principles clearly, demonstrating their relevance to real-world public policy challenges
  • have confidence in engaging with economists and policymakers on global policy issues through informed discussions.