ECON3000 : Principles and Methods of Theoretical and Applied Economics - Public Policy Maker - Economics Assignment Help

Assignment Task :

QUESTION: 

Consider the following proposition: 

“The principles and methods of theoretical and applied economics are invaluable to the public policy-maker. For any given policy issue, they enable the underlying structure of the problem to be specified, relationships to be clarified, objectives to be defined, required data to be identified, and appropriate methodologies to be deployed.” 

Choose one of the subject areas covered in this unit and identify a specific policy issue of past or current significance in that area in Australia or elsewhere. Your task is to show how the above proposition can be applied to the issue you have identified. In other words you need to be explicit about how economics allows the structure of the policy problem or issue to be specified, how it identifies the key economic relationships pertinent to the issue, and how economics helps in the defining of policy objectives in relation to that issue? You also need to indicate the kind of data that might be relevant to analysing the problem, and the methodology that would be appropriate. As part of your essay you should indicate the sorts of advice an economist might offer to a policy- maker considering the issue. 

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