Learning objectives

Referring to knowledge General objectives OG1: Develop critical thinking and analytical skills to address complex economic and social problems. OG2: Demonstrate the ability to work collaboratively in multidisciplinary teams, respecting diverse perspectives and approaches. OG3: Communicate ideas and arguments clearly and effectively, both orally and in writing. OG4: Manage time efficiently to meet deadlines and strike an appropriate balance individual and group responsibilities. Specific objectives OE1: Understand the theoretical foundations of welfare economics, including concepts of efficiency, equity and redistribution. OE2: Apply empirical tools such as the Lorenz curve, Gini coefficient and measures of intergenerational mobility to analyse inequality and social outcomes. OE3: Critically evaluate public policies in areas such as education, health, infrastructure and the environment, using cost-benefit analysis and causal inference techniques. OE4: Identify and explain the main trade-offs between efficiency and equity in the design of welfare policies. OE5: Participate in structured debates on economic policy issues and develop skills in argumentation and critical engagement. OE6: Prepare and present analytical and reflective reports on specific economic policy challenges.

 

 

Teaching blocks

 

1. Introduction and motivation

*  

• What is welfare economics? Efficiency vs.equality. Markets vs. governments
• Why markets fail and when governments should intervene. Introduction to redistribution

2. Theoretical foundations of welfare economics

*  

• Theories of social control: utilitarianism, Rawlsian justice and the capabilities approach
• Pareto efficiency and the Kaldor-Hicks criterion. The meaning and limits of efficiency
• Inequality of outcomes vs. inequality of opportunities. Philosophical and policy implications

3. Measurement and empirical tools

*  

• Measuring inequality: Lorenz curve, Gini coefficient, intergenerational mobility, and the Great Gatsby curve
• The trade-off between efficiency and equity: Okun’s leaky bucket. When redistribution improves or reduces efficiency

4. Policy design and evaluation

*  

• Designing welfare policies: universal vs. targeted transfers. Horizontal vs. vertical equity
• Policy evaluation methods: cost-benefit analysis, causal inference and measurement of effectiveness

5. Educational policy

*  

• Education as investment in human capital: access, quality and returns
• The role of the State in guaranteeing equal educational opportunities

6. Health policy

*  

• Health as a public good: public vs. private provision and market failures in healthcare
• Assessment of health system performance: outcomes, efficiency and coverage

7. Infrastructure and regional development

*  

• Infrastructure as a driver of inclusive growth and equal opportunity
• Addressing spatial inequalities: urban-rural divide and regional investment disparities

8. Environmental economics

*  

• Externalities, environmental degradation and the need for public intervention
• Market-based environmental policy tools: carbon taxes, emissions trading systems, regulation
   

 

 

Teaching methods and general organization

 

The course combines a variety of teaching methods, including: Lectures with practical applications: integration of theoretical concepts with empirical applications. Case study seminars: in-depth analysis of real-world public policy challenges. Structured debates: development of critical thinking and argumentation skills. Group work: promotion of collaborative research, oral presentation skills, and peer feedback.

 

 

Official assessment of learning outcomes

 

Continuous assessment Two mid-term exams: 50% (25% each). Participation and attendance: 10%. (The maximum mark for attendance, 5%, requires that students attend a minimum of 80% of the classes.) Participation in case study debates: 10%. Group case study project: 30%. Repeat assessment for continuous assessment students Students who do not pass the course (including those who fail to submit any of the above activities) are entitled to sit the repeat assessment exam on the date set by the Academic Board. Repeat assessment consists of a comprehensive final examination with a structure similar to that of the ordinary mode of assessment. This examination accounts for 100% of the final grade. This means that any grades obtained in previous assessed activities during the semester are not considered.   Examination-based assessment The single mode of assessment consists of a final examination worth 100% of the final grade.  Repeat assessment Students who do not pass the course (including those who fail to take the exam) are entitled to sit the repeat assessment exam on the date set by the Academic Board. Repeat assessment consists of a comprehensive final examination with a structure similar to that of the ordinary mode of assessment.