ECON5005 Production Economics and Efficiency Analysis

6 points
(see Timetable)

If this unit does not have an online alternative, then students who are presently unable to enter Western Australia and whose studies would be delayed by an inability to complete this unit, should contact the unit coordinator (details given on this page) to ascertain, on an individual case-by-case basis, if alternate arrangements can be made to support their study in this unit.

Semester 2UWA (Perth)Face to face Predominantly face-to-face. On campus attendance required to complete this unit. May have accompanying resources online.
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 develop the capacity to think about related research problems in logical and systematic ways; (2) develop a thorough understanding of data and statistical issues related to production efficiency and productive analysis; 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) final 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
ECON4002 Core Concepts in Agricultural and Applied Economics, ECON5003 Microeconomics Theory for Agricultural and Environmental Economics or ECON5002 Agriculture and Economic Development
Contact hours
The total workload contact hours for the unit is 36 hours
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  • Unit readings, including any essential textbooks, are listed in the unit outline for each unit, one week prior the commencement of study. The unit outline will be available via the LMS and the UWA Handbook one week prior the commencement of study. Reading lists and essential textbooks are subject to change each semester. Information on essential textbooks will also be made available on the Essential Textbooks. This website is updated regularly in the lead up to semester so content may change. It is recommended that students purchase essential textbooks for convenience due to the frequency with which they will be required during the unit. A limited number of textbooks will be made available from the Library in print and will also be made available online wherever possible. Essential textbooks can be purchased from the commercial vendors to secure the best deal. The Student Guild can provide assistance on where to purchase books if required. Books can be purchased second hand at the Guild Secondhand bookshop (second floor, Guild Village), which is located on campus.