deGorter_AEM_630_Econ_430_Spring_2009_Syllabus - Applied...

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Applied Economics and Management 6300 - Economics 430 Policy Analysis: Welfare Theory, Agriculture and Trade Course Syllabus Spring 2009 Lectures: Mon/Wed 12:20 - 2:15pm Plant Science 143 Final Exam : Period P Wednesday May 13 7:00-9:30 PM (room TBA) – please incorporate into travel plans Instructor: Harry de Gorter - e-mail address: hd15 447 Warren 5-8076 Administrative Assistant: Nancy Trencansky - e-mail address: njt1 102 Warren 5-1616 Office Hours : Tuesdays and Thursdays 10:00 AM - 11:30 AM. Course Description The first part of this provides a comprehensive review of the theory of welfare economics and the methods used to analyze government policies. We then apply these theories and methods to real world problems. The efficiency and income distribution effects of all types of agricultural policies in the context of international trade are analyzed. In addition to trade policies, a host of domestic policies are also assessed including policies related to research and technology, the environment and imperfect competition. Although emphasis is on U.S. and EU agricultural policies, the analysis is relevant to all other countries, including developing countries. Indeed, emphasis is given on international trade relations and the World Trade Organization. Evaluation Term Paper 25% Assignments 20% Mid-term Exam 20% Final Exam 35% Textbooks (on sale at Cornell bookstore): Just, Richard E., Darrell L. Hueth and Andrew Schmitz (2004) The Welfare Economics of Public Policy: A Practical Approach to Project and Policy Evaluation Edward Elgar, Northampton, MA. 1 Houck, J. P. Elements of Agricultural Trade Policies , Prospect Heights, IL, Waveland Press 1986. ISBN 0-88133-659-9 1 Paperback copy for < $50 can be ordered from or for $52 from
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Course Outline 1: Introduction to Welfare Economics o Issues in welfare economics o Efficiency and equity o Pareto optimality and competitive equilibrium 2: Consumer Surplus o path dependence, uniqueness, constancy of marginal utility of income o willingness to pay, compensating versus equivalent variation o multiple price changes; price/income change o exact measurement – Willig’s approximation 3: Non-market welfare measurement
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deGorter_AEM_630_Econ_430_Spring_2009_Syllabus - Applied...

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