What is worth fighting for in education: An economist's view

Addressing the theme of the conference as an economist, questions about worth and what we therefore value are key economic issues. Many of the policies that currently seem to be creating a combativeenvironment for education has to do with the value placed by the government on“economic growth”, but there are other values that need to be protected

Household Size Economies: Malaysian Evidence

People live in households with different size and composition and they consume a variety of goods; categorised as private and public goods. With the existence of public goods in the household, doubling the household size need not increase the consumption expenditure twofold to maintain the same standard of living. Using households’ per capita expenditure from the Household Expenditure Survey 2004-2005, we estimate the household size economies indices for household consumption goods through the Seemingly Unrelated Regression. The results suggested that the lower income households enjoy savings from a wider range of public goods compared to the higher income households.Household size economies, Seemingly Unrelated Regression, household composition, public goods, Malaysia.

Economic development: a review of key themes in the international literature

This report has been commissioned by the Ministry of Transport to provide an overview of how economies can be supported to develop and grow. It focuses on how capabilities can be expanded through: investment in physical capital; investment in human capital (education); and investment in new knowledge creation and utilisation. The AERU at Lincoln University was commissioned by the Ministry of Transport to prepare a report reviewing the economics literature on approaches to economic development. The report does not aim to consider the relationship between transport and the economy: this will take place at a subsequent stage. Instead, the purpose of the report is to provide a general readership with an overview of the major themes in research by economists on how economies can be supported to develop and grow

Wellbeing Economics

Economists have long sought to maximise economic growth, believing this to be their best contribution to improving human welfare. That approach is not sustainable in the face of ongoing issues such as global climate change, environmental damage, rising inequality and enduring poverty. Alternatives must be found. This open access book addresses that challenge. It sets out a wellbeing economics framework that directly addresses fundamental issues affecting wellbeing outcomes. Drawing inspiration from the capabilities approach of Nobel Prize winner Amartya Sen, the book demonstrates how persons can enhance prosperity through their own actions and through collaboration with others. The book examines national public policy, but its analysis also focuses on choices made by individuals, households, families, civil society, local government and the global community. It therefore offers important insights for anyone concerned with improving personal wellbeing and community prosperity

Consumer Preferences for Attributes in Food and Beverages in Developed and Emerging Export Markets and their Impact on the European Union and New Zealand

This study examined consumer attitudes towards attributes in food and beverages in China, India, Indonesia, Japan and the UK. The attributes included basic attributes such as price and quality, but also extended to food safety and health benefits, as well as environmental and social attributes. The importance of factors affecting key attributes were examined in more detail. The study used a web-based survey with 1,000 middle and upper income consumers in each country. In addition, the potential economic impact of agricultural returns of different levels of premiums for food attributes in the EU and New Zealand were examined using the partial equilibrium Lincoln Trade and Environment Model (LTEM). This study found that consumers from developing countries valued food attributes more than the developed countries. Trade model projections showed an important impact on the agricultural sectors in the EU and New Zealand from the different levels of premiums for food attributes in selected overseas markets

Life satisfaction, QALYs, and the monetary value of health

The monetary value of a quality-adjusted life-year (QALY) is frequently used to assess the benefits of health interventions and inform funding decisions. However, there is little consensus on methods for the estimation of this monetary value. In this study, we use life satisfaction as an indicator of ‘experienced utility’, and estimate the dollar equivalent value of a QALY using a fixed effect model with instrumental variable estimators. Using a nationally-representative longitudinal survey including 28,347 individuals followed during 2002–2015 in Australia, we estimate that individual's willingness to pay for one QALY is approximately A$42,000-A$67,000, and the willingness to pay for not having a long-term condition approximately A$2000 per year. As the estimates are derived using population-level data and a wellbeing measurement of life satisfaction, the approach has the advantage of being socially inclusive and recognizes the significant meaning of people's subjective valuations of health. The method could be particularly useful for nations where QALY thresholds are not yet validated or established

Three-dimensional, time-resolved velocity and density measurements of the stratified shear flow in an inclined duct

Laboratory experiments on the stratified shear flow in an inclined duct are reported. Stratified turbulence is observed in this two-layer exchange flow, whose dissipation is controlled by the duct inclination and compares in intensity with that observed in geo- physical contexts. A setup enabling three-dimensional (3D) simultaneous Particle Image Velocimetry (PIV) and Laser-Induced Fluorescence (LIF) is presented, and applied to the visualisation of Holmboe waves. Such capabilities are believed to be key to advance our understanding of the dynamics and mixing of stratified turbulence in the near future

The contribution of Antarctic-related activities to the New Zealand Economy

In 2007, the AERU at Lincoln University was commissioned by the Canterbury Development Corporation (funded by Antarctica New Zealand) to prepare a report on The Contribution of Antarctic-Related Activities to the Canterbury and New Zealand Economies (Saunders et al, 2007). That report concentrated on the local and national impacts of Antarctic-related activities based in Canterbury. Thus, it included Antarctic-related research at the Gateway Antarctica programme of the University of Canterbury, for example, but not research at the Antarctic Research Centre of Victoria University of Wellington. The 2007 study found that the direct impact on the Canterbury economy was at least $87.6 million per annum, which was estimated to be associated with 676 full-time equivalent jobs in the region. The direct impact on the New Zealand economy was estimated to be$133.2 million, supporting 965 full-time equivalent jobs. Taking into account multiplier impacts, the direct, indirect and induced impacts amounted to $155.1 million in Canterbury and$282.0 million in New Zealand. In 2013, Antarctica New Zealand commissioned the AERU to update and extend its 2007 study. In particular, the AERU was asked to consider significant Antarctic-related activities outside as well as inside the Canterbury region. The role of Christchurch as a ‘gateway city’ to the Antarctic means that his report retains a focus on the Canterbury region, but the authors have attempted a wider national scope in its analysis