Numbering Code	U-ECON00 30512 LJ43	Year/Term	2022 ・ Second semester
Number of Credits	2	Course Type	Lecture
Target Year	From 2nd to 4th year students	Target Student
Language	Japanese	Day/Period	Tue.2
Instructor name	OKA　TOSHIHIRO (School of Government Professor)
Outline and Purpose of the Course	This class provides a foundation in welfare economics for discussing issues such as valuing the environment, cost-benefit analysis of public policy, intergenerational distribution, and selection of instruments of environmental policy. This class aims to provide students with the knowledge they need in order to avoid pitfalls such as blind measurement without a welfare economics foundation and application of methods to inappropriate subjects in handling issues such as welfare criteria, choice of WTP or WTA, evaluation of involuntary risk, valuation of ecosystems, selection of long-term discount rates, and treatment of uncertainty.
Course Goals	Students shall have a deep awareness of the range and limitations of new welfare economics based on the compensation principle and be able to apply this knowledge.
Schedule and Contents	1. Marshall's economics 2. Pigou's welfare economics 3. New welfare economics (1) 4. New welfare economics (2) 5. Paradoxes of the compensation principle 6. Externality 7. Externality and reverse paradox 8. Efficiency and equity 9. Distributional weighting in cost-benefit analysis 10. Discounting and intergenerational equity 11. Evaluation of life, health, and safety policies (1) 12. Evaluation of life, health, and safety policies (2) 13. The value of nature and ecosystems 14. Uncertainty and welfare economics 15. Summary
Evaluation Methods and Policy	By regular examination.
Course Requirements	None
Study outside of Class (preparation and review)	Please prepare for the course using the handouts.
Textbooks	Textbooks/References	Materials will be distributed in class.
References, etc.	Oka, T., 厚生経済学と環境政策 (Iwanami Shoten, 1997). Other papers to be read will be introduced during class.