ECON 231 Lecture Notes - Lecture 1: Capital Formation, Capital Market, Potash
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A) outline the main features of the north american fur trade as it was conducted by the hudson"s bay company in the first half of the eighteenth century. Include a discussion of the trading process, the types of goods traded, and the mechanisms that were used to establish rates of exchange between furs and european goods. Include a discussion of the unit of account (made beaver), which was used by the hbc in fur trade, and describe how. Carlos and lewis derive a price index for furs. What role did gifts (expenses) play in the process: review the debate on the effect of fur prices on the level of native effort in the fur trade. Explain how the pattern of how natives purchased trade goods can shed light on the debate. Illustrate how they simulate the beaver populations over the period 1700 to 1763 in three hudson"s bay company hinterlands.
