Semester One 2011
Semester Two 2011
- Not Offered
Welfare economics deals with the interaction between "positive economics" (i.e. statements of what will happen under different policies) and "normative economics" (statements about what policies should be followed). Welfare economics considers how value judgements involving interpersonal comparisons can be incorporated into the basic framework of positive economics in order to reach normative conclusions.
Subject to approval of the Head of Department