318.603.81
Applied Microeconomics for Policymaking
Location
Internet
Term
1st Term
Department
Health Policy and Management
Credit(s)
3
Academic Year
2024 - 2025
Instruction Method
Asynchronous Online
Auditors Allowed
Yes, with instructor consent
Available to Undergraduate
No
Grading Restriction
Letter Grade or Pass/Fail
Course Instructor(s)
Contact Name
Frequency Schedule
Every Year
Resources
Prerequisite
Introduction to Online Learning
Introduces policy students to the theories, concepts, terminology and tools of microeconomics as it relates to the examination and analysis of public policies. Introduces vocabulary, which describes decision-making behavior of people, households, firms and governments. Describes theories of supply and demand, elasticity, utility-maximization and other concepts for examination and better understand public policy issues. Prepares students with an understanding of economic terminology and theories, which will allow them to use economic tools to examine decision-making and apply the concepts, terminology and tools to various policies and problems.
Learning Objectives
Upon successfully completing this course, students will be able to:
- Describe the basic tools used in microeconomic analysis
- Explain the key terminology and concepts of microeconomics
- Utilize supply and demand models to evaluate different pricing policies including taxes, price ceilings and price floors
- Discuss the role of “the economic way of thinking” in the context of public policy
- Use the utility maximization theory and 2-D model to understand consumer behavior
- Describe how markets operate and identify welfare outcomes for consumers and firms
- Review market operations and identify welfare outcomes for consumers and firms
- Examine common market failures and their application to public problems related to transportation policy (congestion, public transportation access), environmental health (obesity, pollution) and others
- Evaluate different government remedies/interventions for market failures using the tools of supply and demand
Methods of Assessment
This course is evaluated as follows:
- 40% Final Exam
- 35% Midterm
- 25% Homework