Friday, September 4, 2015

Economics in a Free World Reading Assignment

Chapter two Reading Questions combined with Economics in a Free World Due 9/9 (4th) 9/10 (5th)
  1. You need money, we all do, it is called the economy there is no escaping it.
  2. Describe uneconomic growth.  How does it fit into the sustenance economy and the capitalist economy?
  3. GDP and GPI are different ways of “measuring” the economy, describe each and highlight the differences.  What might be a way we can grow GDP and decrease our ecological footprint (think services of your ecological footprint)
  4. Describe when growth is “bad” for the environment.
  5. Thing about the grocery store, in particular the fresh produce and meat section, what happens to “fresh” products after they are not fresh anymore.  How could this be reduced and fall within a sustainable economy.
  6. Do you believe happiness should be included in a measure for the health of an economy?  How about employment?
  7. China has had a high level of growth over the last few years, is it sustainable?  Explain.  Look up what has happened in the last week in China in regards to their economy.  What did you find.
  8. What is neoclassical economics?  Describe some of the assumptions of neoclassical economics and if you agree with those assumptions. 
  9. How does neoclassical economics fit in with the ideas set out in the “Economics in a Full World”
  10. What is a classic supply demand curve?  What is a  cost benefit analysis?  How do they differ and how are they the same?  Might there be a time when where the lines intersect on the graph not be the optimal place.  Give an example (this will require some deep thinking and maybe asking for help from those around you.  Hint: sometimes we want to discourage people from doing something not using laws or regulations)