Competitive price mechanism and its welfare properties. Economic justice; public goods; social welfare functions; Arrow's impossibility theorem; Sen's liberal paradox; voting and aggregation rules. Applications and discussion topics include privatization and allocation of resources for national defense.
SU Credits : 3
ECTS Credit : 10
( Doctorate ECON 506 Minimum Grade of D OR Masters Level ECON 506 Minimum Grade of D )AND ( Doctorate MATH 571 Minimum Grade of D OR Masters Level MATH 571 Minimum Grade of D )