Course Code & Number
ECON 416
Course Title
General Equilibrium & Welfare Economics
Credit Hours/ ECTS Credits
(3+0+0) 3 TEDU Credits, 6 ECTS Credits
Mode of Delivery:
Face-to-face
Language of Instruction:
English
Pre-requisite / Co-requisite::
Pre-requisites: ECON 212
Co-requisites: NONE
Catalog Description
Theory of general competitive equilibrium from modern mathematical points of view. Basic concepts in welfare economics allowing an understanding of important economic factors affecting the level of social welfare. Tools of applied welfare analysis.
Course Objectives
The aim of this course is to introduce students the theory of general competitive equilibrium from modern mathematical points of view. The course will provide an understanding of important factors affecting the level of social welfare.
Software Usage
Students will use MS Office applications (Word, Excel, Access, Powerpoint) to work on their weekly assignments about 2 hours a week.
Course Learning Outcomes
Upon succesful completion of this course, a student will be able to
1. Explain consumer demand theory and production theory in mathematical, graphical and English terms.
2. Interpret the fundamental welfare theorems.
3. Solve simplified examples of general equilibrium problems.
4. Discuss comparative statistics and stability.
5. Solve general equilibrium models with uncertainty.
Learning Activities and Teaching Methods:
Telling/Explaining
Discussion/Debate
Questioning
Reading
Peer Teaching
Demonstrating
Problem Solving
Case Study/Scenarion Analysis
Simulation & Games
Video Presentations
Oral Presentations/Reports
Guest Speakers
Web Searching
Assessment Methods and Criteria:
Test / Exam
Quiz
Case Studies / Homework
Presentation (Oral/Poster)
Assessment Methods and Criteria Others:
Recommended Reading
1. Starr. R.M., General Equilibrium Theory: An Introduction. 2nd Edition, Cambridge University Press, Cambridge, 2011.
Required Reading
1. Moore. J. C., General Equilibrium and Welfare Economics: An Introduction. Springer, New York, 2006.
Learning Activities and Teaching Methods Others:
Course & Program Learning Outcome Matching: