General Equilibrium and Welfare

Department of Economics, Business School

College of Social Sciences


Code 03189

Level of study Third/Final year

Credit value 10

Semester 2

Pre-requisite modules None

Other pre-requisites None

Module description

The module examines the working of the market mechanism, in teams of both ideal outcomes and market failure. Included are: Arrow’s impossibility theorem and social decisions, the first and second fundamental theorems of welfare economics; existence of general equilibrium; production in general equilibrium; the core.

Teaching and learning methods

20 lectures