MAE304 - Labour and Health Economics
| Year: | 2026 unit information |
|---|---|
| Enrolment modes: | Trimester 2: Burwood (Melbourne), Online |
| Credit point(s): | 1 |
| EFTSL value: | 0.125 |
| Prerequisite: | Nil |
| Corequisite: | Nil |
| Incompatible with: | Nil |
| Study commitment: | Students will on average spend 150 hours over the trimester undertaking the teaching, learning and assessment activities for this unit. |
| Scheduled learning activities - campus: | 1 x 2 hour on-campus lecture (recordings provided) and 1 x 1 hour on-campus seminar (recordings provided) each week. |
| Scheduled learning activities - online: | 1 x 2 hour recorded lecture each week and 1 x 1 hour online seminar (recordings provided) each week. |
Content
This unit applies microeconomic theories and analytical tools to examine labour and health economics - two interrelated aspects of human resources.
Labour Economics
We explore the labour force as a key element of the production process. First, we analyse labour supply, considering the factors that influence whether an individual participates in the workforce and how many hours they choose to work. Next, we examine labour demand, focusing on how firms' production decisions interact with wage levels. By integrating labour supply and demand, we illustrate how equilibrium wages are determined. Using this framework, we assess the impact of immigration and technological advancements, such as AI, on the labour market. Finally, we apply Becker’s human capital model to understand the factors influencing education and training decisions.
Health Economics
We begin by discussing the unique characteristics of the health economy and the role of cost-benefit analysis in evaluating health policies and interventions, including COVID-19 lockdown measures. We then examine the determinants of health, recognising that healthcare is only one contributing factor. Next, we explore the production of healthcare, emphasizing the substitution between health inputs, and the interplay between health insurance and technology. We also analyse Grossman’s demand for health capital model, which builds on Becker’s human capital framework but treats health as a distinct form of capital. Lastly, we discuss the key features of Australia’s healthcare system and examine health-related statistics since the onset of the COVID-19 pandemic.
This unit equips students with essential analytical tools to assess labour market trends and health economic developments, preparing them for careers in industry and policy.
Unit fee information
Fees and charges vary depending on the type of fee place you hold, your course, your commencement year, the units you choose to study and their study discipline, and your study load.
Tuition fees increase at the beginning of each calendar year and all fees quoted are in Australian dollars ($AUD). Tuition fees do not include textbooks, computer equipment or software, other equipment or costs such as mandatory checks, travel and stationery.
For further information regarding tuition fees, other fees and charges, invoice due dates, withdrawal dates, payment methods visit our Current Students website.
Hurdle requirements
Hurdle requirement: Achieve at least 50% of the marks available on the end-of-unit assessment task to evidence a minimum proficiency in the aligned discipline learning outcomes included in this unit.