This information sheet indicates how the course will be organized at pandemic code level yellow and green.
If the colour codes change during the academic year to orange or red, modifications are possible, for example to the teaching and evaluation methods.

Applied welfare economics

Course Code :2130TEWECP
Study domain:Economic Sciences
Academic year:2020-2021
Semester:1st semester
Contact hours:45
Credits:6
Study load (hours):168
Contract restrictions: No contract restriction
Language of instruction:English
Exam period:exam in the 1st semester
Lecturer(s)Bruno De Borger

3. Course contents *

This course introduces students to some of the most important principles of applied welfare economics, including:

  • Key concepts (the Pareto principle, efficiency and equity, social welfare, optimal welfare and welfare reform, etc.)
  • Evaluation of welfare changes at the individual level (surplus analysis, equivalent and compensating variations, dealing with interdependent preferences, etc.)
  • Aggregating individual welfare changes: social welfare functions, non-welfarist aggregation, multidimensional welfare
  • Insights from behavioural economics: reference-dependent preferences, loss aversion, framing, etc.
  • The relevance of general equilibrium for programme evaluation
  • Uncertainty and principal-agent problems
  • Indirect tax reforms
  • Issues in direct taxation
  • Cost-benefit analysis as applied welfare reform: principles of cost-benefit analysis (shadow prices, discount rates, treatment of wider economic benefits, etc.)
  • Applications of cost-benefit analysis