Syllabus
|
Course Code: M-ECOE -036 Course Name: Elective COurse - Welfare Economics-I |
||
| MODULE NO / UNIT | COURSE SYLLABUS CONTENTS OF MODULE | NOTES |
|---|---|---|
| 1 | Introduction to
Welfare Economics Scope and Purpose of Welfare
Economics; Positive or normative science; Assumption of Uniform Income; Utility
Function of Individuals; Marginal Productivity Theory of Income Distribution; Elasticity
of Factor Substitution; Technological Progress and Income Distribution; Value
judgements and welfare economics; Benthamite Approach to Aggregate Welfare.
Reading
List ·
Boadway,
R.W. & Neil, B. (1991). Welfare Economics. Wiley. ·
Feldman, A. M. &
Serrano, R. (2006). Welfare Economics and
Social Choice Theory. Springer. ·
Johansson,
Per-Olov (1991). An Introduction to
Modern Welfare Economics. Cambridge University Press. ·
Little,
I.M.D. (2002). A critique of Welfare
Economics. Oxford University Press.
·
Sen,
Amartya (1997). Choice, Welfare and
Measurement. Harvard University Press. |
|
| 2 | Marshallian
Welfare Economics Consumer’s Surplus - Measurement,
Difficulties involved and Criticism.
Hicks’s
Surpluses Concept of Consumer’s Surplus; Principle
of Compensating Variation; Consumer’s Surplus and Tax-Bounty Analysis.
Reading
List ·
Boadway,
R.W. & Neil, B. (1991). Welfare
Economics. Wiley. ·
Feldman, A. M. &
Serrano, R. (2006). Welfare Economics and
Social Choice Theory. Springer. ·
Johansson,
Per-Olov (1991). An Introduction to
Modern Welfare Economics. Cambridge University Press. ·
Little,
I.M.D. (2002). A critique of Welfare
Economics. Oxford University Press.
·
Sen,
Amartya (1997). Choice, Welfare and
Measurement. Harvard University Press. |
|
| 3 | Optimum
Resource Allocation and Welfare Maximization Pareto optimality – Optimum
exchange conditions, The production optimum, The consumption optimum, Concept
of contract curve; Pareto optimality and perfect competition; First and Second
Fundamental Theorems of Welfare Economics.
Reading
List ·
Boadway,
R.W. & Neil, B. (1991). Welfare
Economics. Wiley. ·
Feldman, A. M. &
Serrano, R. (2006). Welfare Economics and
Social Choice Theory. Springer. ·
Johansson,
Per-Olov (1991). An Introduction to
Modern Welfare Economics. Cambridge University Press. ·
Little,
I.M.D. (2002). A critique of Welfare
Economics. Oxford University Press.
·
Sen,
Amartya (1997). Choice, Welfare and
Measurement. Harvard University Press. |
|
| 4 | Fairness/Equity
and Welfare Economics Economic Justice: Utilitarian Approach (Harsanyi);
Libertarian View (Nozick); Rawlsian Theory of Justice; Amartya Sen’s Approach
to Economic Justice; Bergson’s social welfare function; Compensation criteria
–Contributions of Barone, Kaldor and Hicks.
Reading
List ·
Boadway,
R.W. & Neil, B. (1991). Welfare
Economics. Wiley. ·
Feldman, A. M. &
Serrano, R. (2006). Welfare Economics and
Social Choice Theory. Springer. ·
Johansson,
Per-Olov (1991). An Introduction to
Modern Welfare Economics. Cambridge University Press. ·
Little,
I.M.D. (2002). A critique of Welfare
Economics. Oxford University Press.
·
Sen,
Amartya (1997). Choice, Welfare and
Measurement. Harvard University Press. |
|
