Economics of Welfare State
In this course we will study the evolution and characteristics of modern welfare states. Drawing on literature from economics, political science, and sociology, we will examine various forms of welfare states and explore big questions, such as: What are people owed by society? Do citizens owe something to society? Most developed capitalist societies have implemented various measures to protect their vulnerable citizens. We will study the tradeoff of efficiency and equity in providing welfare. We will also explore cross-country variations in the scope and impact of various welfare policies. Finally, we will consider the sustainability of the welfare state. This course counts as elective credit towards the Economics Major and IPEC major.