A graduate student asked Professor Yao to recommend a text for Welfare Economics, the following text is one very good candidate. Now I pass on the following information to every PhD students in our college. BOOK PROFILE Introduction to Modern Welfare Economics, An - Johansson, Per-Olov Intended primarily for introductory and intermediate courses in welfare economics, microeceonomics and public economics, this book explores in detail concepts such as Pareto optimality in a market economy, the compensation criterion, and the social welfare function.
