Practical Philosophy & Normative Economics

Teacher(s)

Gosseries Axel; Maniquet François;

Language

English

Prerequisites

Having attended LECGE1222 MICROÉCONOMIE is a prerequisite.

The prerequisite(s) for this Teaching Unit (Unité d’enseignement – UE) for the programmes/courses that offer this Teaching Unit are specified at the end of this sheet.

Main themes

In relationship with recent developments in political philosophy, the course may focus on some of the following themes:
-the normative justifications for and criticisms to real and hypothetical markets,
-the nature and justification of private property,
-the concept of opportunities
-the different goals and normative justifications of taxation
-the place of redistribution
-The nature of economic rights
-The examination of specific policy proposals such as school vouchers, basic income, tradable immigration rights, or the assessment of current developments such as the increase in global inequalities or the uberization of our society.

Learning outcomes

At the end of this learning unit, the student is able to :
1	At the end of the course, students will be able -to distinguish between positive and normative economics -to understand basic reasoning in normative economics -to combine the philosophical and the economic approaches to economic justice -to have a good grasp of the main families of philosophical theories of justice (utilitarianism, egalitarianism, sufficientarianism, libertarianism,') as well as of the scope and currency issue they raise -to have a sense of the main conceptual issues raised by the use of concepts of freedom, equality and efficiency. -to have a sense of the basic elements relevant to applying a given theory of justice to a specific policy issue -to be able to express the basic intuitions of theories of justice both mathematically and in natural language

Content

Based on simple models of exchange and production economics and using the axiomatic approach, students will study microeconomic theorems about the efficiency and no-envy justification to markets, the cooperative game theoretic justification to markets, the various solidarity criticisms to markets (the growth paradox, the population paradox, etc.). Then, students will study the modelling of opportunities and the difficulties of defining the ideal of equal opportunity. In models with heterogeneity in agents’ ability to earn incomes, students will study the normative justification to taxation and redistribution. Students will also study theories of justice as described and defended by philosophers. They will look at definitions of key philosophical concepts and apply them to some policy issues.

Teaching methods

Lectures, homework.
If the pandemic situation allows, there may also be room for debate in class.

Evaluation methods

Written exam.
If the number of students allows, there may be room in addition for writing an essay with feedback as part of the assessment of this course.

Bibliography

- M. Fleurbaey, Fairness, Responsibility and Welfare, Oxford University Press, 2008. - D. Hausmann, M. McPherson and D. Satz, Economic Analysis, Moral Philosophy, and Public Policy (3d ed.), Cambridge University Press, 2017. - W. Kymlicka, Contemporary Political Philosophy. An Introduction (2d edition), Clarendon Press, 2001. - H. Moulin, Fair Division and Collective Welfare, MIT Press, 2004. - H. Peyton Young, Equity: In Theory and Practice, Princeton University Press, 1994.

Faculty or entity

ESPO