ECONG046 - Economics of Households
The course will introduce students to the way in which economists think about households, the choices they make, and the manner in which they react to changes in their environment. Students will gain understanding of the core models used to represent household behaviour, of the important empirical contributions in the field and of some recent policy debates concerning households. Emphasis will be put on role of structural modelling in interpreting empirical evidence. In doing so, the course illustrates how core microeconometric methods are applied to the context of household decision making. It will therefore be of interest to students intending to do research in a PhD, as well as to students interested in policy work or in using applied economics in business.
To provide students with:1. Understanding of relevant mathematical and statistical techniques
2. A critical understanding of the analytical methods
3. The ability to apply core economic theory and economic reasoning to applied and policy relevant topics.
4. The ability to relate differences in economic policy recommendations to differences in the theoretical and empirical features of the economic analysis, which underlie such recommendations.
5. The ability to discuss, analyse and evaluate aspects of government policy aimed at households.
6. An understanding of verbal, graphical, mathematical and econometric representation of economic ideas and analysis, including the relationship between them. Appropriate techniques to enable manipulation, treatment and interpretation of the relevant statistical data, may also be relevant.
|Assessment:||2 hours of lectures per week and 4 problem classes with written assignments. The course will be examined by a 2-hour written exam in Term 3.|