This subject will not be offered in 1977.
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The subject will examine the actions of individual consumers, groups of consumers, and firms in a predominantly market economy, with special attention given to the pricing, product and output decisions of firms and industries, their implications for public welfare for resources allocation, and for government policies aimed at controll- ing the economic environment within which such decisions are made. The impact of competitive forces, non-competitive forces, the Prices Justification Act, the Trade Practices Act, the Industries Assistance Commission Act, the Conciliation and Arbitration Commission, and consumer behaviour will be studies included within the subject.
BOOKS
Preliminary Reading:
Maher, J E What is Economics? New York: Wiley 1969 Reading lists will be available at the commencement of the subject.
ASSESSMENT
A two-hour paper at the end of the subject will comprise 80 per cent of the assess- ment, and performance in classes and submissions associated with those classes - 20 per cent of the assessment.
Additional information: Inquiries should be directed to Mr G A Taylor, subject adviser for Economics, room 414, 1959 Building.
ECONOMICS B1 (ECB01) 12 points
MACRO-ECONOMICS
A subject of two 1-hour lectures and one 2-hour tutorial class week throughout the Year.
SPECIAL REQUIREMENTS
Tutorial work is an integral part of the subject and attendance et classes is compulsory.
A satisfactory standard of tutorial work must be attained for a pass in the subject.
Prerequisite: Economics Al . id A2, or an approved equivalent SYLLABUS
A subject in advanced macro-economic theory and policy with the aim of the student being able to analyse, interpret and evaluate the economic policy of the Australian market capitalist system.
The structure of the subject comprises the following areas:
Statistical Records
The Objective of Full EmployTent The Objective of Price Stability Fluctuations in Economic Activity.
*Macroeconomics 2nd edn New York: Random House 1975
Australian Labour Economics Readings new edn Melbourne: Sun 1975
Perkins, J O N Macroeconomic Policy in Australia 2nd edn Melbourne: MUP 1975
Shapiro, E Macroeconomic Analysis 3rd edn New York:
Harcourt, Brace & Jovanovich 1974 Whitehead, D H Stagflation and Wages Policiy in Australia
Melbourne: Longman 1973
Additional reading lists will be distributed during the course of the subject.
Section A:
Section B:
Section C:
Section D:
BOOKS Reference:
Keiser, N F
Niland, J R & Isaac. J E led/
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ASSESSMENT
One 1-hour paper on Section A will comprise 10 per cent of the assessment, one assignment on Section A — 5 per cent of the assessment, one 2-hour paper on Section B — 30 per cent of the assessment, one essay on Sections B and C — 15 per cent of the assessment, one 2-hour paper on Sections C and D — 30 per cent of the assessment and prescribed class work — 10 per cent of the assessment.
ECONOMICS Cl (ECC01) 4 points
PUBLIC FINANCE
A subject of two 1-hour seminars a week throughout the year. Classes are not held during periods of Practice Teaching.
SPECIAL REQUIREMENT
Seminar participation is an integral part of the subject and attendance at classes is compulsory.
Prerequisite: Economics B1 or an approved equivalent SYLLABUS
The subject will examine:
(a) the economic and equity effects of government receipts, including receipts from taxation and sale of goods
(b) the economic and welfare effects of government expenditure, including
the
impact upon the political-economic system
(c) the economic and functional effects of inter-government finance, including Federal financial assistance to the Australian states.
All studies will be centred upon the Australian economy in the 1970s.
BOOKS
Preliminary Reading:
Eckstein, O Public Finance Englewood Cliffs: Prentice-Hall 1974
Reference:
Australia, Parliament Taxation Review Committee: Full Report (Chairman, K W Asprey) Canberra: AGPS 1975 Musgrave, R A & Musgrave, P B Public Finance in Theory and Practice New York:
McGrew-Hill 1973
Additional reading lists will be distributed throughout the course of the subject.
ASSESSMENT
Assignments set during the year and class part icipation will comprise the assessment.
ECONOMICS C2 (ECCO2) 4 points
INTERNATIONAL ECONOMICS
A subject of two 1-hour seminars a week throughout the year. Classes are not held during periods of Practice Teaching.
SPECIAL REQUIREMENT
Seminar participation is an integral part of the subject and attendance at classes is compulsory.
Prerequisite: Economics B1 or 82, or an approved equivalent 124
SYLLABUS
A study of theories of free trade and protection; the Australian Balance of Payments;
exchange rates, tariffs and other weapons of balance of payments control; the conflict between internal and external balance; international capital movements; the inter- national monetary system; and current international issues.
BOOKS
Preliminary Reading:
Perkins, J O N Reference:
Bhagwati, J led) Crawford. J G Einzig, P Einzig, P Grubel, H G Heiler, H R Kindleberger, C P McColl, G D McColl, G D (ad) Snape, R H Sodersten,
B
Australia in the World Economy latest edn Melboume: Sun
International Trade Harmondsworth: Penguin 1969 Australian Trade Policy 1942-1966 Canberra:
ANU Press 1968
The Destiny of the Dollar London: Macmillan 1972 Foreign Exchange Crises — An Essay in Economic
Pathology London: Macmillan 1970
The International Monetary System Harmonds- worth: Penguin 1969
International Trade: Theory and Empirical Evidence Englewood Cliffs: Prentice-Hall 1973
International Economics 5th edn Homewood (Ill):
Irwin 1973
The Australian Balance of Payments Melbourne:
MUP 1965
Overseas Trade and Investment Ringwood (Vic):
Penguin 1972
International Trade and the Australian Economy latest edn Croydon (Vic): Longman
International Economics student edn London:
Macmillan 1971 ASSESSMENT
Assignments set during the year and class participation will comprise the assessment.
ECONOMICS C3 (ECC03) 4 points
INDUSTRIAL RELATIONS
A subject of two 1-hour seminars a week throughout the year. Classes are not held during periods of Practice Teaching.
SPECIAL REQUIREMENT
Seminar participation is an integral part of the subject and attendance at classes is compulsory.
Prerequisite: Economics B1 or E12, or an approved equivalent SYLLABUS
Industrial relations systems, industrial conflict, strikes and strike patterns in Australia, methods of settlement of industrial disputes in Australia, trade unionism, employers associations, and overseas industrial relations systems.
BOOKS Reference:
Bloom, G F & Northrup, H R Chamberlain, N W
Economics of Labour Relations 7th edn Home- wood (111): Irwin 1973
The Labor Sector New York: McGraw-Hill 1971 125
Conflict and Change: Aspects of Industrial Relations London: Holt, Rinehart & Winston 1972
*Strikes London: Fontana 1972
*Australian Labour Relations: Readings 2nd edn Melbourne: Sun 1971
'Trade Unions in Australia Ringwood (Vic):
Penguin 1975
Australian Trade Unions Melbourne: Sun 1968 Trade Unions Harmondsworth: Penguin 1972 Productivity Agreements and Australian Wage
Determination Sydney: Wiley 1973
A History of Trade Unionism in Australia Melbourne: Macmillan 1967
Labour Law in Australia Sydney: Butterworth 1972
*Australian Industrial Relations Systems Cambridge (Mass): Harvard Univ Press 1970
Additional reading lists will be distributed during the course of the subject.
ASSESSMENT
Assignments set during the year and class participation will comprise the assessment.
ECONOMICS C4 (ECCO4) 4 poin
tsECONOMIC GROWTH AND DEVELOPMENT
A subject of two 1-hour seminars a week throughout the year. Classes are not held during periods of Practice Teaching.
SPECIAL REQUIREMENT
Seminar participation is in integral part of the subject and attendance st classes is compulsory.
Prerequisite: Economics B1 or an approved equivalent SYLLABUS
The subject will begin with an introductory section on the meaning and measure- ments of economic growth and development. Examination of models of economic growth will provide a theoretical framework for the analysis of the growing economy.
Consideration of the desirability of economic growth as a policy objective and 'the costs of economic growth' will be made.
Major emphasis in the subject will be given to the problems facing less developed countries in their attempts to formulate policies aimed at both short-run 'survival' action and the longer term objectives of development. The role of planning, the government and social institutions will be considered within this framework.
BOOKS
Preliminary Reading:
Baldwin, R E Economic Growth and Development 2nd edn New York: Wiley 1972
Reference:
Reading lists outlining references will be distributed throughout the year.
ASSESSMENT
Assignments set during the year and class participation will comprise the assessment.
Hawkins, K Hyman, R
Isaac, J E & Ford, G W (eds) Mart in, R M
Matthews, P W D & Ford, G W (eds)
McCarthy, W E J led) Riech, P A & Howard, W A Sutcliffe, J T
Sykes, E I & Glasbeck, H J Walker, K F
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