ECO 451 - Welfare Economics |
| Course Detail: |
Topics include the distinction between normative and positive economics; the first and second fundamental theorem of welfare economics; Hicks-Kaldor-Scitovsky compensation criteria; consumer and producer surplus for measuring welfare change; market failure; theory of second best and its implications for policy reforms; importance of property rights and Coase theorem; cost-benefit analysis; distribution of income; relationship between entitlement and welfare; the extent of inequality in Bangladesh.
[Pre-requisite: ECO 303 ]
[Credit Hours: 3] |
