Course Schedule and Catalog

Long Title: SOCIAL WELFARE AND DISTRIBUTIVE JUSTICE

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Prerequisite(s): ECON 301 OR ECON 370

Description: Microeconomic models of collective utility and social welfare orderings, utilitarianism, equalitarianism, and other social contract theories. The impossibility results of Arrow and Gibbard-Satterthwaite. Fair distribution and production of resource: the No Envy and Stand Alone tests. Axiomatic bargaining theory: Nash and other compromises, solutions of cooperative games: the Shapley value.