In this paper, we would like to present methods for evaluating social welfare, economic efficiency, absolute inequality and relative inequality measures based on an explicit social welfare function. These indexes allow us to use micro data to construct aggregate indexes to empirically study the changes of social welfare and inequality. In this study, we use the survey data of family income and expenditure from 1976 to 1994, conducted by DGBAS, to calculate these indexes and their money metric measures. We find that the social welfare derived from household consumption expenditure and the measures of absolute inequality were steadily rose, but in relative terms, inequality declined substantially during the period of observation. The money measures of absolute inequality are over NT$10 billion, and the money measures of relative inequality are nearly 30%.