In this lecture, we dig deeper into demand curves (and the related topics of the demand function and inverse demand function). We discuss normal goods, inferior goods, Giffen goods, and Veblen goods. We then start to introduce consumer surplus and elasticity (with a focus on Price Elasticity of Demand, PED).
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In this wrap-up lecture, we briefly cover government policy approaches for mitigating sustainability problems. We start with the Coasean id...
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We continue to discuss the economics of natural resources in this lecture, with a particular focus on timber rotations. In the previous lect...
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In this lecture, we continue to discuss the economics of fisheries -- private and open-access. The lecture reminds us of the logistic growth...
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