Course Schedule and Catalog

Long Title: DISTRIBUTIVE JUSTICE: A MICROECONOMIC APPROACH

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Prerequisite(s): ECON 301 OR ECON 370

Description: The course examines various economic concepts of efficiency, fairness, and incentive-compatibility in resource allocation problems involving trade and production. Topics include: collective utility functions and social welfare orderings; fair division and fair distribution; the No Envy test and competitive trade; cost sharing, the Stand Alone test and the Shapely value; theories of the social contract such as utilitarianism and egalitarianism; axiomatic bargaining, impossibility results of Arrow and Gibbard-Satterthwaite.