ECON 460- Final Exam Guide - Comprehensive Notes for the exam ( 36 pages long!)

• School: McGill University
• Department: Economics
• Course: ECON 460
• Professor: William Watson

Document Summary

Due to add/drop period, i am missing some of the notes before the 20th. Aristotle is o(cid:271)sessed (cid:449)ith the idea of (cid:271)ei(cid:374)g (cid:858)(cid:374)atural(cid:859) He determines that something is natural if it seems to work for a certain purpose= has a certain end. He is dedu(cid:272)i(cid:374)g the (cid:858)esse(cid:374)(cid:272)e(cid:859) of thi(cid:374)gs= e(cid:448)erythi(cid:374)g has pri(cid:373)ary a(cid:374)d se(cid:272)o(cid:374)dary purposes= pri(cid:373)ary for shoes is to protect feet, secondary is for barter. Barter is not as honorable a purpose i(cid:374) aristotle(cid:859)s (cid:448)ie(cid:449) as it (cid:272)a(cid:374) (cid:271)e used to (cid:272)reate (cid:449)ealth a(cid:374)d li(cid:373)itless (cid:449)ealth is (cid:374)ot tied i(cid:374) (cid:449)ith the greek goal of (cid:858)li(cid:448)i(cid:374)g a good life(cid:859) They figured out they could do better by trading olive oil than wheat= better at producing oil than wheat. Thales the milesian= monopolist= had monopoly on oil presses= aristotle thinks this is bad. Sorry for the slightly scattered nature of the notes of the week ending the 23rd september and before.