| CODE | ECN1909 | ||||||
| TITLE | Micro Economics for Public Officers | ||||||
| UM LEVEL | 01 - Year 1 in Modular Undergraduate Course | ||||||
| MQF LEVEL | 5 | ||||||
| ECTS CREDITS | 4 | ||||||
| DEPARTMENT | Economics | ||||||
| DESCRIPTION | Being one of the pillars of Public Administration, Economics is considered a core discipline for any public officer who strives to to establish a rewarding and professional career in the Public Sector. The aim of this study-unit is to outline the basic micro-economic concepts and theories and, where possible, highlight their applications in the formulation and analysis of economic policy. This study-unit is primarily theoretical but through the discussion and real-life examples in class, students will have the opportunity to gauge an empirical understanding of the theoretical frameworks. This conceptual and applied knowledge of economics is crucial to comprehend the steering of national public administration. Study-Unit Aims: The overall aim is to equip students with fundamental micro-economic theories and concepts that are considered essential for policy-makers involved in the various specialised domains of Public Administration, including economic policy, social policy, agriculture policy, business policy, welfare state considerations andregulatory affairs. Furthermore, this unit seeks to contextualise the domestic economic development within the multi-level governance characterised by the European Union and the international regulatory regimes. Learning Outcomes: 1. Knowledge & Understanding By the end of the study-unit the student will be able to: - Have an introductory understanding of micro-economic concepts; - Appreciate the dynamics of price determination: - Demand; - Supply; - Market equilibrium. - Comprehend firm behaviour, costs and production; - Recognise the different market structures, including: - Monopolies; - Oligarchies; - Perfect and imperfect competition. - Demonstrate knowledge on market regulation through independent regulatory regimes; - Discuss the implications of welfare economics, poverty and income (re) distribution; - Ponder on market failures and state intervention, including: - Externalities; - Public goods; - Climate change. - Interpret market regulation in the context of the EU single market framework; - Evaluate every economic decision not only from its scientific rigour but also from an ethical perspective. 2. Skills By the end of the study-unit the student will be able to: - Have a basic grasp of micro-economics which is essential for public administrators; - Read and understand general microeconomic policy to be better positioned to give advice on state intervention, where need be; - Demonstrate an understanding of the regulatory functions of the state to ascertain fair competition and customers’ rights; - Contextualise the regulatory functions of the State within the supranational regulatory framework characterised by the European Union and international regimes; - Integrate ethical conduct with economic scientific rigour to examine and execute decisions of an economic nature. Main Text/s and any supplementary readings: Main Text: - Lipsey, R.G. (1995), An Introduction to Positive Economics, US: Weidenfeld & Nicolson. Supplementary Readings: - Sloman, J. and Sutcliffe, M. (1995), Economics, US: Prentice Hall/Harvester Wheatsheaf. - Samuelson, P. A. and Nordhaus, W. (2014), Economics, US: McGraw Hill. - Stem, N. (2010), The Economics of Climate Change. Available online from: http://mudancasclimaticas.cptec.inpe.br/~rmclima/pdfs/destaques/sternreview_report_complete.pdf - Vassallo, M.T. (2021), Kollox Politika? Governanza, Reliġjon, Ekonomija, Amministrazzjoni Pubblika. Malta: Malta University Publishing. |
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| STUDY-UNIT TYPE | Independent Online Learning, Lecture & Tutorial | ||||||
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| LECTURER/S | Kevin Vella |
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The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2025/6. It may be subject to change in subsequent years. |
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