Welfare Economics and Equality Online
ECON S285E 01 (30209)
Welfare Economics and Equality
Meets online Mondays, Wednesdays, and Fridays, 1:00pm-3:15pm; Fulfills SO distributional requirements
This is a course on efficiency ,i.e., the First and Second Welfare Theorems, in simple general equilibrium models of competitive markets and market failures, where the welfare theorems do not hold. That is, externalities, public goods and monopoly pricing. In particular, we consider and compare the relative merits of the Kaldor-Hicks compensation principle in partial equilibrium analysis and the Pareto principle in general equilibrium analysis. Prerequisites: Econ 121 and Math 112. Enrollment limited. For college students only. 1 Credit. Tuition: $3300. Technology fee: $85. Session B: July 8 - August 9.