ECO 251 ECONOMICS OF THE WELFARE STATE

An examination of the evolution and characteristics of modern welfare states. Drawing on literature from economics, political science, and sociology, students will examine various forms of welfare states and try to explore big questions such as, what are people owed by society? Do citizens owe something to society? Most developed capitalist societies have taken various steps and have different forms of measures to protect their vulnerable citizens. Students will study the tradeoff of efficiency and equity of providing welfare. The course also explores cross-country variations in the scope and impact of various welfare policies. Finally, students will consider the sustainability of the welfare state.