Welfare Economics
skarakaya@gsu.edu.tr
Content
Objective
Static optimization is one of the main tools of the theory and practice of economics. This course aims to provide a quite rigorous introductory knowledge of this tool, and make use of it in simple equilibrium models. And in the same time to utilize these models to master the tool.
Course Content
This course aims to teach nonlinear programming and to deal with small equilibrium models, with two goods, two cosumers, two producers and two factors, as an application of this mathematical tool. The walrasian exchange model, the Lindahlian exchange model, and an exchange externality model and their corresponding pareto optimums are treated. Then, the walrasian production model is studied, and two simple models of general equilibrum are established.
Course Learning Outcomes
1- To learn nonlinear programming,
2- study the static general equilibrium with differentible functions,
3- in an axiomatic way.
References
Sydsaeter, Hammond, Mathematics for economic analysis.
Sydsaeter, Hammond, Further mathematics for economic analysis.
Simon, Blume, Mathematical economics.
Silberberg, The structure of economics, a mathematical analysis.
Assessment System
| Activities | Number | Contribution |
|---|---|---|
| Contribution of in-term studies to overall grade | 2 | 50 |
| Contribution of final exam to overall grade | 1 | 50 |
| Total | 3 | 100 |
| Activities | Number | Contribution |
|---|---|---|
| Assignments | 0 | 0 |
| Presentation | 0 | 0 |
| Midterm Examinations (including preparation) | 1 | 42 |
| Project | 0 | 0 |
| Laboratory | 0 | 0 |
| Other Applications | 0 | 0 |
| Quiz | 1 | 14 |
| Term Paper/ Project | 0 | 0 |
| Portfolio Study | 0 | 0 |
| Reports | 0 | 0 |
| Learning Diary | 0 | 0 |
| Thesis/ Project | 0 | 0 |
| Seminar | 0 | 0 |
| Other | 0 | 0 |
| Total | 2 | 56 |
Relation of Proficiency
| No | Program Learning Outcomes | Contribution | ||||
|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | ||
| 1 | Demonstrate a basic knowledge of different economic theories and main discussions driving current theoretical approaches | |||||
| 2 | Demonstrate ability to use basic qualitative and quantitative methods to asses different economic questions of applied fields | |||||
| 3 | Show a sound understanding of current economic discussions and problems | |||||
| 4 | Have an effective and clear communication in written and oral formats in different public and professional contexts. | |||||
| 5 | Demonstrate basic knowledge of the world economic history and a sound knowledge of the Turkish economic history | |||||
| 7 | Demonstrate knowledge of standard quantitative techniques and empirical models used in economics | |||||
| 8 | Show ability to apply basic economic theory to an applied topic | |||||
| 9 | Show a basic understanding of analytical methods, both theory- and model-based | |||||
| 10 | Show ability to use economic concepts to discuss current economic issues | |||||
| 11 | Reason logically and work analytically | |||||
| 12 | Show awareness on social aspects of the economics in different applied and theoretical fields | |||||
| 13 | Identify appropriate economic models to analyse problems | |||||
| 16 | Show understanding of basic statistical and econometric concepts and ability to apply basic concepts to own empirical work | |||||
| 17 | Demonstrate a sound knowledge of the current economic issues in Turkey and a general knowledge of the issues in the world economy | |||||
ECTS
| Activities | Number | Period | Total Workload |
|---|---|---|---|
| Class Hours | 0 | 42 | 0 |
| Working Hours out of Class | 0 | 42 | 0 |
| Midterm Examinations (including preparation) | 0 | 21 | 0 |
| Final Examinations (including preparation) | 0 | 42 | 0 |
| Total Workload | 0 | ||
| Total Workload / 25 | 0.00 | ||
| Credits ECTS | 0 | ||