Ethics and Economics

PREREQUISITE: ECON-UA 0002 OR ECON-UA 9002 OR ECON-UA 0005 OR ECON-UB 0005 OR ECON-UB 0001 OR ECII-UF 1002 OR ECON-SHU 2, OR ECON-SHU 3. ALL WITH A MINIMUM GRADE OF C. SAME AS ECON-UB 0207

Study of the interface between ethical and economic theories. Specific topics covered include a brief overview of various ethical ideas, an analysis of the ethical presuppositions of modern economic theory (especially welfare economics), utilitarian ethics, the moral status of free exchange, the ethical implications of imperfect knowledge between bargaining parties, cost-benefit analysis and human rights, the economic content of the ?general welfare,? and laissez-faire.