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BECC-101 Introductory Microeconomics
BECC-102 Mathematical Methods for Economics-I
बी.इ.सी.सी-101 प्रारंभिक व्यष्टि अर्थशास्त्र
BECC-101 Prarambhik Vyashti Arthashastra
बी.इ.सी.सी-102 अर्थशास्त्र में प्रारंभिक गणितीय विधियाँ-I
BECC-102 Arthshastra Me Prarambhik Ganitiya Vidhiyan-I
BECC-103 Introductory Macroeconomics
BECC-104 Mathematical Methods in Economics-II
बी. ई.सी.सी-104 अर्थशास्त्र में गणितीय विधियाँ-II
BECC-104 Arthashastr me ganitiy vidhiyan-II
बीईसीसी-103 परिचयात्मक समष्टि अर्थशास्त्र
BECC-103 Parichayatmak samashti arthashastr
BECC-105 Intermediate Microeconomics-I
BECC-105 मध्यवर्ती व्यष्टि अर्थशास्त्र-I
BECC-106 Intermediate Macroeconomics-I
BECC-107 Statistical Methods For Economics
बी.ई.सी.सी-106 मध्यवर्ती समष्टि अर्थशास्त्र-I
BECC-106 Madhyavarti samashti arthashastr-I
बीईसीसी-107 अर्थशास्त्र के लिए सांख्यिकीय प्रविधियाँ
BECC-107 Arthashastr ke lie sankhyikeey pravidhiyan
BECC-108 Intermediate Microeconomics-II
BECC-108 मध्यवर्ती व्यष्टि अर्थशास्त्र-II
BECC-108 Madhyavarti vyashti arthashastr-II
BECC-109 Intermediate Macroeconomics-II
BECC-109 मध्यवर्ती समष्टि अर्थशास्त्र-II
BECC-109 Madhyavarti samashti arthashastra-II
BECC-110 Introductory Econometrics
BECC-110 प्रारंभिक अर्थमिति
BECC-110 Prarambhik arthamiti
BECC-111 Indian Economy-I
BECC-111 भारतीय अर्थव्यवस्था-I
BECC-111 Bharatiy arthavyavastha-I
BECC-112 Development Economics-I
बी.ई.सी.सी.-112 विकास अर्थशास्त्र-I
BECC-112 Vikas arthashastr-I
BECC-113 Indian Economy-II
BECC-114 Development Economics- II
BECC-114 विकास का अर्थशास्त्र-II
BECC-114 Vikas ka arthashastr-II
बी.ई. सी. सी.-113 भारतीय अर्थव्यवस्था-II
BECC-113 Bharatiy arthavyavastha-II
Welfare Economics
Meaning of Welfare Economics
Welfare economics is the branch of economics that uses microeconomic techniques to analyse the impact of resource allocation and economic policies and actions on the well-being of people (welfare) in the aggregate (economy-wide).
The fundamentals of welfare economics theory are all about the efficiency of resource allocation and the corresponding well-being of society. welfare economics system helps to evaluate government policies and welfare schemes. This is normative and gives value judgment.
Difference between positive and welfare economics
The laws of positive economics are tested and verified by observations of the facts. The laws of welfare economics cannot be so tested and verified.
Positive economics is related to ‘what is. Welfare economics deals with the issue of ‘what ought to be.
Positive economics does not give any value judgements. It analyses cause-and-effect relationships. Welfare economics is based on value judgement and debate, which are required to arrive at some conclusion.
Social Welfare Function
A social welfare function is a mathematical representation of the combined welfare of all economic agents in a society. It is simply a rule for aggregating individual welfare levels to obtain the welfare of society as a whole. The aggregation process itself depends upon an explicit value judgement about the social value of individuals’ welfare levels.
Classical Utilitarian or Benthamite Welfare Function
Thus, social welfare is the sum of utilities obtained by all the n members of the society. The function is given by
wsures that maximisation of social welfare is achieved only with equal distribution of income.
Criticism
Cardinal utility
Equal weightage to all individual
Bergson-Samuelson Social Welfare Function
As per the Bergson-Samuelson social welfare function, collective well-being depends on the utilities of the individuals that c