Problem Set 2a - ECON/FRE 374 Problem Set 2 Due: 4pm,...

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ECON/FRE 374 – Problem Set 2 Due: 4pm, Friday October 7 2005 Instructions: a) Your grade on this problem set will be determined by randomly grading a single problem from the set below. It is thus important to do each question carefully as any one problem could determine your grade. b) Problem sets are to be handed in at the beginning of class. Please do not upload your problem sets in WEBCT. c) Any problem set received after the time it is due will not be graded. d) Please label and mark all graphs clearly. Questions (each question is worth a potential 10 points): 1) Read the “Fish Tale” article from “The Economist” (article is included with the files for the problem set). a) Explain how externalities as a concept apply to this article b) Identify other externality issues related to overfishing c) List some possible solutions to this overfishing problem d) Under what conditions can these alternative solutions be made effective e) Search and submit a short article showing an externalities problem (other than fisheries). Discuss the problems and suggest how these could be addressed using concepts we discussed in class. 2)
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Problem Set 2a - ECON/FRE 374 Problem Set 2 Due: 4pm,...

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