The economics of COVID-19
The main reason the 1929 financial crisis turned into a severe, long-lasting social and economic disaster, was the slow and, in many instances, counter-productive policy response. There are good reasons to be confident that, informed by past mistakes, the policy response to severe economic downturns will be better and swifter today.
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ECON-19: Inside the Corona Crash
ECON-19 goes inside the economic impacts of the COVID-19 pandemic. We'll speak with leading experts and economists from the University of Melbourne, to gain a valuable insight into how this virus has caused what might be the biggest economic down turn since the Great Depression, and where we go from here.
Household Production and the Household Economy*
economic institution, the interest of economists was concentrated on “that part of the economic system which is organized on a price basis”. Reid is regarded as the first writer to specify the often-used third person criterion to distinguish between productive and non-productive (consumption) activities.
Research databases are provided for research staff and students of the Faculty of Business and Economics. Many of these databases are available for online access, with some databases only accessible through the FBE Research Databases Facility, Upper Ground South (Graduate Space), Giblin Eunson Library. See below for the list of available
Ethics in the time of COVID-19
Sadly, at the tail-end of three decades of economic growth, many small businesses hold substantial debt on their books. To us, there seems to be a clear case for banks supporting and ensuring small business operates on sustainable financial footing. While that would not have prevented the dire consequences of COVID-19, some resilience would
Study of Australian Leadership
Fuelled by the resources boom, the Australian economy has enjoyed an unprecedented 25 years of economic growth, more than doubling in real terms over that period. But, now, the Australian economy is slowing. Productivity is sluggish, employment growth is weakening, and consumer confidence is faltering.
The Economics of Terror and the Consequences of the
The main potential economic impact of this reduction in spending is a fall in the aggregate demand for goods and services, and therefore a decreased GDP, as shown in research conducted after the 9/11 New York attack that found a short-run reduction in American economic growth, which had resulted from consumer apprehension.
More investment in early childhood strategies is needed
More investment in early childhood strategies is needed for wider social and economic reform. Zac Hatzantonis (BCom 1994) used her economics degree to pursue a career in public policy, and is now a partner at PwC Australia. She tells us what inspired her passion for policy reform, particularly in early childhood education and care.
Stronger environmental regulation makes economic winners
Stronger environmental regulation makes economic winners. By Dr Ou Yang, Research Fellow, Melbourne Institute. This idea environmental regulation hurts the economy is deeply entrenched in pro-business discourse. Our analysis of 22 nations suggest, in the long term, the opposite is true. Donald Trump has ordered US federal agencies to bypass
New Chair in Economic History
New Chair in Economic History. The Faculty of Business and Economics is delighted to announce a $5 million gift from the Peter Griffin and Terry Swann Foundation, to revitalise scholarship in the field of Economic History. "We are thrilled and grateful to receive this generous gift from Peter Griffin and Terry Swann, and we will shortly be
Measuring Financial Wellbeing
The Melbourne Institute: Applied Economic and Social Research, along with colleagues from the Department of Finance at The University of Melbourne (UoM), are collaborating with Commonwealth Bank Australia (CBA) to develop and analyse scale measures of the financial wellbeing of CBA’s customers and Australians generally.
Explainer: what exactly is a living wage
In pushing to “make work pay”, the ACTU is hoping to capture both the public imagination and, for workers, a larger slice of the economic pie. Joshua Healy, Senior Research Fellow, Centre for Workplace Leadership, University of Melbourne and Andreas Pekarek, Lecturer in Management, University of Melbourne
Welcoming our new Griffin Chair in Economic History
Welcoming our new Griffin Chair in Economic History – Professor James Kai-sing Kung. In January 2023, the University of Melbourne will welcome Professor James Kai-sing Kung as the inaugural Griffin Chair in Economic History at the Faculty of Business and Economics. It’s a post Professor Kung is extremely excited to take up, having connected
DEPARlTMlENT OF ECONOMICS
economic output contributed by women and men through household production. At least two-thirds of the work and economic production of women, half of the world's adult population, is still omitted from official estimates of economic activity (Ironmonger, 2001). Estimating the Volume & Value of Unpaid Non-Market Work - Time Use Surveys
An NPV Analysis of Buying versus Renting for Prospective
be explained by economic fundamentals (Fox and Finlay 2012; Otto 2007). Some studies have found overvaluation in Australian housing market in some periods and undervaluation in other periods (Abelson et al. 2005; Fox and Tulip 2014; Hill and Syed, 2012). Whether housing is overvalued is relevant to the buy versus rent decision.
Casual consequences: the impact of non-standard employment
Working at the margin: the consequences of non-standard employment. Against a backdrop of growing concern over casual, fixed term and sub-contractor employment rates across Australia, this Melbourne Institute project aims to assess the impact of 'non-standard' forms of employment on workers.. Using data gathered as part of the Household, Income and Labour Dynamics in …
Department of Finance
Subjects. View all subjects in the handbook.. Undergraduate. The finance major in the Bachelor of Commerce is the study of money management. You will learn how to raise funds, choose investments and grow wealth. Honours. The honours program has an outstanding reputation and is highly regarded by private and public sector firms, major corporations, …
BCom International Case Competition Faculty of Business
The Faculty of Business and Economics is proud to have competed in International Case Competitions (ICC) with leading universities around the globe for two decades. The 2021 training program has been adapted to our new virtual environment. You will attend a series of online workshops designed to develop your consulting skills, and participate
Effectiveness of the Australian Fiscal Stimulus Package: A
and unanticipated by economic agents in the model. We therefore give more details of the stimulus initiatives that involved transfer spending. In October 2008, the Economic Security Strategy (ESS) was announced | the majority of this initiative involved lump-sum transfers to households. This package was valued at $10.4 billion (0.85
Grading Journals in Economics: The ABCs of the ABDC
that the FoRs Statistics, Economic Theory, Applied Econometrics and Other Economics, are represented by 11.05%, 3.95%, 66.45%, 4.47% and 14.08%. From Table 2.1 it can be noted that the proportion of the highest grade (A*) is 7.5% for all the journals considered here. However, the “Econometrics” group of journals is
The COVID-19 Shock to Supply Chains
The economic fallout of this pandemic is already telling us that businesses were ill-prepared for supply chain risks on this scale. But my research suggests most businesses can do much more to prepare. SUPPLY CHAIN SHOCK. COVID-19 is only the latest shock to supply chains.
Decision-making in hard times: What is a recession, why do
A recession is a period associated with reduced activity and economic hardship for a substantial number of people. Many ﬁrms’ order books dry up as diverse types of consumption fall, investment opportunities are generally reduced and some workers lose their jobs. Large numbers
Australia's Generational Wealth Divide is Biting
Compiled by the Melbourne Institute, Applied Economic and Social Research at the University of Melbourne, HILDA is a unique longitudinal study of the economic and social well being of Australians going back to 2001. It has grown to include over 17,000 people, and is a key source of information for policy makers.
Public Lectures, Talks & Conferences
Distinguished visiting economists are invited to present at the Downing Lecture for the purpose of promoting analysis and discussion of economic and social research policy. These lectures have been made possible by a generous fellowship that was established by friends and colleagues of the late Professor Richard Downing (BA (Hons) 1936), in
Striking a balance in the Australian property market
Government policy in a market downturn needs to balance housing affordability and long-term economic stability. The cost of housing in Australia is a hot button issue and according to Dr Sam Tsiaplias, Senior Research Fellow at the Melbourne Institute: Applied Economic & Social Research, should be firmly on the federal budget agenda next week.
Specialist Certificate in Economic Design
Specialist Certificate in Economic Design. The Centre for Market Design now offers an executive certificate in market design. The course covers the role prices play in the economy, coordinating supply and demand, and the physical constraints and informational frictions at the heart of economic design. Sixty international and national government
China’s economic evolution in the Year of the Dog
The economic and political importance of rising Chinese investment in developing countries, means that China’s foreign aid program is also now of increasing importance to the country’s new model of growth. Chinese foreign aid grew rapidly until 2012, and has since slowed down. China’s 2015 net foreign aid is estimated at US$5.4 billion
Professor Ross Garnaut AC RESET Webinar Series
He was the senior economic policy official in Papua New Guinea’s Department of Finance in the years straddling Independence in 1975, principal economic adviser to Australian Prime Minister Bob Hawke 1983-1985, and Australian Ambassador to China 1985-1988.
Do Stock Market Returns Predict Changes to Output
economic activity than stock market returns in the G-7 countries. Binswanger (2000) presents evidence that there has been a breakdown in the relation between stock returns and future real activity in the US economy since the early 1980s. Aylward and Glen (2000) conducted an analysis using annual average data on
SPECIALIST CERTIFICATE IN ECONOMIC DESIGN
The Specialist Certificate in Economic Design consists of 2 subjects, each worth 12.5 credit points. The Specialist Certificate in Economic Design is taught face to face at your workplace or at the University of Melbourne. Accredited by the University of Melbourne, the 25 credit points earned from the Specialist Certificate in
A Review of the Recent Literature on the Institutional
economic phenomena (norms, contracts, incentives). This framework is summarized in Table 1 below. An important feature of this framework is the interactions between the phenomena across different levels. Williamson has also pointed out that much of the work from the New Institutional Economics (NIE) relate to level 2 and level 3 in the framework.
New Report on General Practice Trends Released
Government funding reforms, demographic shifts and structural changes are transforming general medical practice in Australia, according to a major new study from the Melbourne Institute of Applied Economic and Social Research at the University of Melbourne.. Led by Professor Anthony Scott, the ANZ and Melbourne Institute Health Sector Report analyses 10 years of …
Melbourne Institute economists awarded Trevor Swan
The Economic Society established the prize last year to recognize the best contribution to public policy published in the Economic Record in the preceding two years. Dr Cain Polidano (right) with ESA President, Dr Matthew Butlin, and Trevor Swan's son, Peter Swan.
Bounded Rationality: Static versus Dynamic Approach
variety of economic contexts see, for example, Alchian (1950), Simon (1957), and Nelson and Winter (1982). One may take two approaches to modelling bounded rationality. In the static approach individuals choose better alternatives more frequently than the inferior ones. It was introduced in economics by Luce (1959).
COBWEB THEOREMS WITH PRODUCTION LAGS AND PRICE …
supply as a funtion of price. Usually, economic modelling assumes that the market is initially in equilibrium at P , and that an exogenous disturbance results in P 0 6= P . An important question is whether such disturbances persist or die out; this can be answered by studying the conditions for convergence of P tto P .
Treating depression to economically empower mothers
In one of the largest psychotherapy trials in the world, researchers have found cognitive behavioural therapy (CBT) is highly effective in helping mothers with perinatal depression get better, and make smarter economic choices.. Perinatal depression is experienced during pregnancy or in the first year after birth, and is estimated to affect between 12 and 20 per cent …
Department of Accounting
The Department of Accounting's Centre for Accounting and Industry Partnerships is committed to building partnerships and enhancing collaboration between the University and the business sector by offering an environment that fosters rigorous research across the entire spectrum of accounting for both scholars and practitioners. find out more.