Table of Contents

Part I. Introduction to Welfare Economics: 1. Measuring changes in economic welfare: consumer and producer surplus; 2. Consumers and producers: some basic theory; 3. Welfare change in general equilibrium; 4. Equity and efficiency; Part II. Project and Policy Appraisal in Developing Countries: 5. Project appraisal: an overview; 6. Shadow prices for traded and non-traded commodities in an open economy; 7. Trade policy, exchange rates and structural adjustment; 8. Labour markets in developing countries; 9. The social value of labour; 10. Intertemporal costs and benefits (1): a market-based approach; 11. Intertemporal costs and benefits (2): a social planning approach; Part III. Missing Markets: 12. Externalities and public goods; 13. Risk and the measurement of welfare change; 14. Natural resources and the environment; Retrospect.