Ethics and Economics - PEP00002H
Module summary
In this module we look at areas of common concern of economics, in particular welfare economics, and ethics. The module aims to show how both disciplines can profit from each other by engaging with results that arise in their different methodological framework.
Module will run
| Occurrence | Teaching period |
|---|---|
| A | Semester 2 2025-26 |
Module aims
This module aims to show that there are fruitful interactions between ethics and economics. Areas of common concern which may be discussed include the following questions. What is the nature and significance of utility? Are the axioms of decision theory plausible and do they have normative force? How do conception of rationality and morality interact? What is welfare and should it be the sole concern of economic evaluations? What is the relevance of Arrow’s Theorem for ethical thinking? Are there ways to make plausible interpersonal comparisons of utility and well-being? Is there a conflict between principles of liberty and the Pareto Principle? What explains the importance of equality and how should we measure inequality? What can philosophers learn from economic theories of fair divisions? What are the philosophical assumptions underlying cost-benefit analysis?
Module learning outcomes
The general learning outcomes can be summarised as an increased understanding of:
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Be able to approach problems in an interdisciplinary manner
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Analyse issues by relying on the conceptual tools developed in both ethics and economics
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Increase your knowledge of decision and social choice theory and develop your understanding of the structure of ethical theories
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Understand the philosophical assumptions and foundations which are part of of economic theorizing
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Be able to incorporate economic theorizing into ethical analyses of current issues
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Improve your academic skills by engaging with professional research in the ethics-economics area
Indicative assessment
| Task | % of module mark |
|---|---|
| Online Exam -less than 24hrs (Centrally scheduled) | 100.0 |
Special assessment rules
None
Indicative reassessment
| Task | % of module mark |
|---|---|
| Online Exam -less than 24hrs (Centrally scheduled) | 100.0 |
Module feedback
Students will receive written timely feedback on their formative assessment. They will also have the opportunity to discuss their feedback during the module tutors' feedback and guidance hours.
Students will receive written feedback on their summative assessment no later than 20 working days after submission; students will have the opportunity to discuss their feedback during the module tutor’s regular feedback and guidance hours.
Indicative reading
Peterson, Martin An Introduction to Decision Theory, Cambridge: Cambridge University Press, 2017.