This course is designed to understand the basic theory of general equilibrium and methods of welfare economics. The course is important for investigators to undertake applied policy analysis. This course addresses the needs and requirements by emphasizing the basic underpinnings of general equilibrium and welfare economics. It intends to bolster the student's understanding of the basic concepts and application of the material in the field areas of welfare economics.

Recommended Books

• Mas-Colell, Whinston and Green, Microeconomics Theory, Oxford University Preses, 1995. Other Reference Books for general equilibrium.

• Arrow and Hahn, General Competitive Analysis, San Francisco, Holden-Day 1971.

• Jehle, G.A., & P.J. Reny, Advanced Microeconomics, Theory, Addison Wesley, 2001 (2nd ed.)

• Varian, H., Microeconomics Analysis, Norton 1992 (3rd ed)

Course Pre-requisites:

Mathematical Economics & Intermediate Microeconomics

Learning Outcomes:

Students will be able to learn after completion of this course:

• Learn the tools and techniques to find and compare partial & general equilibrium.
• Have understanding about the welfare economics & welfare policies of state uses for future planning of the country.
• To know in depth the practice and discussions related to real life example concerning different economic policies.

Class Timings: Wednesday & Thursday (9.30 to 11.00 am)

Evaluation Criteria:

Mid Term Exam                                  30 Marks

Final Term Exam                                 50 Marks

Sessional Mark                                    20 Marks

Please note that sessional marks will be distributed as:

Attendance                                         05 Marks

Assignments                                       10 Marks

Class Participation                              05 Marks