ECON5005 Production Economics and Efficiency Analysis

Credit
6 points
Offering
(see Timetable)
AvailabilityLocationMode
Semester 2UWA (Perth)Face to face
Content
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.
Outcomes
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.
Assessment
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
Prerequisites:
ECON4402 Microeconomic Theory
or
ECON5003 Fundamental Microeconomics for Agriculture and Policy
Contact hours
10 half days. The total work load for the unit is 150 hours.
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