Economics
341/Environmental Science 341:
Ecological
Economics and Sustainability
NOTE: EC 150 Principles of Economics or EC 141 Sustainable Development form the prerequisites for this course. You are expected to be familiar with your Principles. We will go over a number in class, rather quickly, and use others as vocabulary and as a foundation for the ecological economics we are developing. It is your personal responsibility to be “in command” of Principles of Economics, especially the following concepts.
| Economics (definitions) Scarcity Allocation Production Distribution Markets Equity Efficiency Growth Development Microeconomics Macroeconomics Opportunity cost Positive economics Normative economics Capital Investment Inputs Outputs Production Production possibility frontier Demand Supply Market equilibrium Factors of production |
Consumer surplus Producer surplus Firms Households Inputs to production Forms of competition Market time periods Diminishing returns law Returns to scale concept Marginal utility Marginal product Average product Total product Production function Economic profit Accounting profit Average costs Marginal costs Total costs Marginal revenue Total revenue Variable cost Optimum size production plant Shut-down point Breaking even point |
Technological change Production function Human capital Physical capital Financial capital Interest Rent Wage Salary Imperfect competition Perfect competition Market failure types Monopoly Oligopoly Monopolistic competition Pure competition Pareto optimality Public or social goods Externality Government failure Moral hazard Social choice theory |