Economics - Management Lecture3 If you are interested in...

Info icon This preview shows pages 1–7. Sign up to view the full content.

View Full Document Right Arrow Icon
Economics and Resource  Management Lecture 3 Please be sure to bring with you the following paperwork to be considered for the position: 1) Your social security card 2) Photo ID (driver's license or Rutgers ID or Passport) 3) VISA and the employment card, if applicable If you are interested in being a paid note-taker for this class, please drop by the Office of Disability Services at 151 College Avenue located in the Kreeger Learning Center in Room 123 between the hours of 10:00 am to 2:00 pm Monday through Friday. The position pays $7.25 an hour. Important Announcement
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
What does Economics Have to do with  Resource Management? Well, just about everything Natural resource management decisions are made on  economic grounds Our valuation or nonvaluation of resources and ecosystem  services significantly determines our relationship with them
Image of page 2
What is an economy? The system by which we value (put a price on) goods and  services, and decide who produces what 2 branches of study - Microeconomics – study of individual, household and  business behavior Macroeconomics – bigger picture – the performance,  structure and behavior of regional and national economies Both are important for natural resource management
Image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Economic Systems Three main types, distinguished by importance of  money and who makes the decisions Subsistence economies – § Traditional agricultural, pastoral, hunter-gatherer economies § Not money based – bartered goods and services for trade § Few surpluses (excess goods) produced § Low impact, but impacts accumulate
Image of page 4
Economic Systems Market economies – § Production decisions made by individuals and businesses  § Profit is the goal – earn more by selling a good or services than is  spent on production § Competition between firms is key component § Profit motive should drive efficiency of labor and resource use But market systems have  trouble dealing with natural  resources
Image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Economic Systems Command economies §
Image of page 6
Image of page 7
This is the end of the preview. Sign up to access the rest of the document.
  • Spring '11
  • smith
  • Christopher Nolan, Driver's license, Social Security number, Social Security Administration, Driver's license in the United States

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern