ECON 424 Welfare Economics Select Term:
Competitive price mechanism and its welfare properties. Economic justice; public goods; social welfare functions; Arrow's impossibility theorem; Sen's liberal paradox; voting and aggregation rules. Applications and discussion topics include privatization and allocation of resources for national defense.
SU Credits : 3.000
ECTS Credit : 6.000
Prerequisite : Undergraduate level ECON 204 Minimum Grade of D
Corequisite : -