EC318 Study Guide - Midterm Guide: Uneconomic Growth, Dynamic Efficiency, Social Discount Rate
Document Summary
Ec 318 - section a natural resource economics. Exam 1 related information is provided in this file. Time & date: thursday, february 16 from 1. 00 pm to 2. 20 pm. Allocated room for the exam: lh 2062 (classroom) Tuesday, february 14 from 10. 10 am to 11. 30 am at lh 2002/2003. Thursday, february 16 from 10. 00 am to 11. 30 am in lh 2002/2003. Chapter 2: the economic approach: property rights, externalities, and environmental problems. Chapter 3: evaluating trade-off: benefit-cost analysis and other decision-making metrics. Chapters 1 & 2: basic concepts & definitions: Wants and scarcity (our inability to meet all our wants or desires) Two pillars of economics: microeconomics (study of individuals, firms and government) & macroeconomics (the study of national and global economy) The economic way of thinking: choices and tradeoffs, rationality, cost and benefit analysis, thinking at the margin, the role of incentive. Economics, natural resource economics, environmental economics & ecological economics.
