Monash University Handbook 2010 Undergraduate, Postgraduate - Unit

Synopsis

A study of theories in welfare economics, including conditions for Pareto optimality, welfare criteria, social choice, consumer surpluses, second versus third best, externalities and public goods as well as problems of applying these theories to such areas as public utility pricing, optimal taxation, road congestion, environmental protection, and public spending.

Objectives

The learning goals associated with this unit are to:

• understand the welfare economic foundation of public policies
• analyse the pros and cons, costs and benefits of economic measures and changes from the perspective of social welfare.

Assessment

Within semester assessment: 40%
Examination (3 hours): 60%

Chief examiner(s)

Yew-Kwang Ng

Contact hours

3 hours per week