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
Module content
The module comprises six topics divided into two blocks.
Block 1 (Topics 1-3) focuses on the rationality of decision-making by an individual, including under uncertainty.
Block 2 (Topics 4-6) focuses on decisions involving several individuals, including where issues of morality become relevant.
Indicative assessment
| Task | % of module mark |
|---|---|
| Online Exam -less than 24hrs (Centrally scheduled) | 100 |
Special assessment rules
None
Additional assessment information
Procedural information and instructions on formative assessment
students are expected to produce one essay on a topic (1-6) of their choice. The essay title for each topic is the corresponding question from last year's exam.
This essay is for formative assessment purposes only. Information on summative assessment (i.e. the exam) appears separately on the summative assessment page, via module info.
The essay must be:
- students' own (unaided) work; students must include their name in the document, but not their exam candidate number
- presented according to normal academic standards; sources used must be listed in a bibliography at the end and, if appropriate, attributed at relevant points in the essay
- no more than 1200 words (not counting title, maths, diagrams and the bibliography); students must include an accurate word count
- submitted as a Word document (.doc. or .docx) unlocked for editing
- uploaded via the upload box which will appear on the corresponding topic page
The essay upload box, for each topic, will be available at the end of the review week for the corresponding block.
It is the student's responsibility to upload the essay, according to the above instructions, before the upload box closes. We will not accept essays emailed to us, at any time.
We will aim to return the essay, with feedback, within three weeks of the close of the submission period for that block.
Summative assessment
Summative assessment is by a 3-hour Online exam during Weeks 13-15 Semester 2. The structure and the rubric will be the same as the 2018 exam. There will be six essay questions, one for each topic, from which you choose three to answer. The past exam papers are available via the Library (enter the module code PEP00002H into YorSearch, to find them). Because of syllabus changes, there isn't much point in looking at papers earlier than 2014.
Marking criteria
A good RME essay (whether in the exam or as a formative essay) will be expected to show familiarity with the relevant lecture material and the essential reading specified on the reading list for that topic, together with intelligent reflection including on the issues discussed in the seminar. It will also show evidence of further exploration of those issues by drawing on some supplementary reading, such as suggested on the reading list or cited in the essential reading.
The essay questions are not intended to trip students up. They are designed to enable students to draw intelligently on the lecture and reading material and the seminar discussion. But they will be specific questions, and students will be expected to have read, understood and addressed the question as set, rather than (say) regurgitated some pre-prepared answer on that topic. There are no conventions of style or format that students need to observe. We simply want students to answer the question that has been set, as clearly, straightforwardly and intelligently as they can, drawing on the work we have done in the module.
Generally, the more and better students accomplish the above, the higher their mark will be, as indicated in the general PEP marking criteria as set out in the PEP u/g handbook.
Indicative reassessment
| Task | % of module mark |
|---|---|
| Online Exam -less than 24hrs (Centrally scheduled) | 100 |
Module feedback
Students are required to attend all seminars of their assigned seminar group. If circumstances arise that prevent students from attending a seminar then they must inform the seminar tutor, with an explanation, as soon as they can. It may be possible for them to attend the seminar of another group, but only with the prior agreement of the seminar tutor. Although not required, attendance at lectures is expected and will be assumed in setting the exam.
In advance of each seminar, students are expected to have prepared as directed. In all cases this will include reading tagged as Essential in the reading list for that topic. Additional required preparation, if any, will vary from one topic to another, and will be specified on the individual topic pages of this site.
At the seminar, everyone will be expected to participate in discussion. Open discussion can continue after the seminar meeting, on the discussion board of this site. The module leaders are happy to discuss any aspects of the module, or the course material, on the discussion board of this VLE site.
Students will receive written timely feedback on their formative assessment. They will also have the opportunity to discuss their feedback during the module tutor’s feedback and guidance hours.
Students will receive written feedback on their summative assessment no later than 25 working days after submission; and the module tutor will hold a specific session to discuss feedback, which students can also opt to attend. They will also 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.