Department of Economics, Unit Catalogue 2009/10 |
ES50052: Welfare economics and distributive justice (formerly EC50120) |
 Credits:
| 6 |
| Level:
| Masters |
| Period: | Semester 1 |
| Assessment:
| EX 100% |
| Supplementary Assessment: | Like-for-like reassessment (where allowed by programme regulations) |
| Requisites:
| |
| Description: | Aims: The aims of this unit are to provide a good understanding at graduate level of the underpinnings of welfare economics and distributive justice beginning with the welfare properties of general equilibrium. Learning Outcomes: At a general level, students will be equipped with the ability to analyse economic decisions under the light of formal principles of economic welfare and fairness. At a more practical level, students will be able to choose among rules of fair division of resources, on the basis of the properties of these rules. Skills: Ability to develop rigorous arguments through precise use of concepts and mathematical models (Taught/Facilitated/Assessed) Ability to select, summarise and synthesise written information from multiple sources (T/F/A) Ability to select and use appropriate ideas to produce a coherent response to a pre-set question (T/F/A) Comprehensive and scholarly written communication (T/F/A) Concise and effective written communication (e.g. briefings/written exams) (T/F/A) Effective oral communication (e.g. lecture question and answer) (F) Content: Pareto optimality and the Pareto criterion. Principles of distributive justice. Cardinal welfarism. Ordinal welfarism. Solutions to the problem of the Commons. Economic exploitation in general, and economic exploitation in capitalism. |