ECON5005 Production Economics and Efficiency Analysis
- 6 points
|Semester 2||UWA (Perth)||Face to face|
- This is an advanced unit focusing on the economics of producer behaviour and the analysis of efficiency and productivity change, with emphasis on empirical applications to agriculture, environmental management, manufacturing and service sectors. The topics include models of production; cost, revenue and profit optimisation; input demand and product supply responses; and the effect of technological progress and the production environment on performance. Production frontier estimation techniques covered include data envelopment analysis (DEA), stochastic frontier analysis (SFA), and distance (radial and directional) function models of multi-input multi-output production processes.
- Students are able to (1) understand the economic theory that underpins production decisions and efficiency analysis, and think about related research problems in logical and systematic ways; (2) appreciate data and statistical issues related to production efficiency theory; and (3) implement modern techniques to analyse empirical data and generate information to guide management and policy.
- Indicative assessments in this unit are as follows: (1) quizzes; (2) assignments; and (3) test. Further information is available in the unit outline.
Supplementary assessment is not available in this unit.
- Unit Coordinator(s)
- Associate Professor Atakelty Hailu
- Unit rules
- ECON4402 Microeconomic Theory
ECON5003 Fundamental Microeconomics for Agriculture and Policy
- Contact hours
- 10 half days. The total work load for the unit is 150 hours.
- The availability of units in Semester 1, 2, etc. was correct at the time of publication but may be subject to change.
- All students are responsible for identifying when they need assistance to improve their academic learning, research, English language and numeracy skills; seeking out the services and resources available to help them; and applying what they learn. Students are encouraged to register for free online support through GETSmart; to help themselves to the extensive range of resources on UWA's STUDYSmarter website; and to participate in WRITESmart and (ma+hs)Smart drop-ins and workshops.
- Books and other material wherever listed may be subject to change. Book lists relating to 'Preliminary reading', 'Recommended reading' and 'Textbooks' are, in most cases, available at the University Co-operative Bookshop (from early January) and appropriate administrative offices for students to consult. Where texts are listed in the unit description above, an asterisk (*) indicates that the book is available in paperback.