Welfare Economics

The course is taught entirely in English. The course is open for Norwegian students and exchange students.

Objective
This course provides knowledge about the welfare economic consequences from economic activities, such as the production and consumption of goods and services. It also deals with the interaction between the public and private sector. It analyses the role of the public sector in a mixed economy, with special attention on the job of adjusting for market failures. 

Tuition
Lectures

Assessment
Individual written examination of 4 hours
Assisting material: Calculator and dictionary

Contents
Welfare economic theory
Market failures
Cost- benefit analysis
The economics of the public sector
Environmental economics

Pensumlitteratur
Pindyck, Robert S. & Rubinfeld, D.L. (2005) Microeconomics. 6.ed. Upper Saddle River, N.J., Prentice
Hall.
Stiglitz, Joseph E. (2000) Economics of the Public Sector. 3.ed. New York, Norton.
Articles