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| Detailed information |
| Original study plan |
Diploma programme (*)Wirtschaftswissenschaften 2009W |
| Objectives |
The course focuses on conditions for Pareto efficiency of general equilibrium in a static and a dynamic model in the economy, and the presence of uncertainty (contingent goods). Students will understand the concept of social welfare functions in the sense of Samuelson / Bergson and the foundations of social choice theory, and students will be able to use the methods for measuring welfare effects due to price changes.
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| Subject |
Pareto efficiency, first main theorem of Welfare Economics, extensions and criticism, social welfare functions, social choice theory, Hicksian measures of welfare changes.
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| Criteria for evaluation |
Active class participation, final examination, re-sit examination (if necessary)
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| Methods |
Lecture based on a prepared reader, course exercises
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| Language |
English |
| Study material |
Course reader
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| Changing subject? |
No |
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