Kyiv National Economic University named after Vadym Hetman

Welfare Economics

The discipline studies the problem of ensuring the welfare of people and the society with the help of economic mechanisms. This course covers the topics of theoretical foundations of the analysis of welfare, welfare measurement criteria, key players and their roles in ensiring social well-being. The market is viewed both as the profit-creating sphere that provides the means for increasing economic welfare and as a mechanism that is not designed to successfully redistribute income and to provide for social justice. Therefore the course includes such topics from advanced microeconomics as market failures, public goods, economic efficiency and social justice criteria, effects of information asymmetries. The role of the state in compensating for market failures and ensuring socially optimal redistribution of incomes is considered.

Last redaction: 29.02.16