Economics for non-economists: Intermediate Microeconomics

Course Overview:

This two day course builds on the Introductory Economics for non-economists course. Participants will revisit some familiar concepts and will gain more insight into the theory behind some key principles of economics and develop a broader understanding of how they directly influence government policy. Key concepts will include utility theory, elasticity and an analysis of the taxes and benefits system, with a focus on government policy, the redistribution of income and through the analysis of labour supply, an examination of the incentives that are created. The topic of market failure will be reviewed with a more explicit focus on solutions and the role of government and delegates will gain an understanding of the process of cost-benefit-analysis and how this process can be used to influence key government decisions, in particular about investment projects such as HS2 and the London 2012 Olympics. The participatory approach from the Introductory course will remain and through this two day course, delegates will improve their ability to interact with economists in their department and develop a greater understanding of the economics behind policy-making.

 

Day 1
    • Review of basic course
    • Utility theory
      • Consumer surplus
      • Producer surplus
      • Deadweight welfare loss
    • Elasticity
    • Taxes, Benefits and the redistribution of income
      • Incidence of taxation
      • Tax policy activity
      • Taxation and the redistribution of income
      • Incidence of income taxation
      • Benefits System
      • Benefits system activity

 

Day 2
      • Recap of market failure, then focus more solutions, e.g. property rights and Coase Theorem
        • Smoker and non-smoker example
      • Cost-benefit Analysis
        • Economic Impact Assessment – e.g. the Olympic games
      • Cost Benefit Analysis Activity
      • The environment and the ETS
      • General equilibrium and the interdependence of markets

 

Course Summary: 

  • Duration: 2 Days
  • Price: £575 + VAT
  • Dates: 6-7 September 2016
  • Code: ECO102

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