public_goods-ho_001

public_goods-ho_001 - Common-Pool Resources (Ch 34) and...

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Unformatted text preview: Common-Pool Resources (Ch 34) and Public Goods (Ch 36) End-of-Quarter Festivities Important Events: Extra OH: Friday 6/4 3-5pm NH 1006 Review Session: Sunday 6/6 4-6pm NH 1006 Final Exam: Wednesday 6/9 12-3pm IV THEA1 Format: 12 - 15 MC, 2 BB questions, < 3 hours worth Bring: pink ParScore scantron, blue-book (large), pencil Dont bring: calculator, visible phone, electronic devices Exam Details Common-Pool Resources Public Goods Final Exam Details Focus of coverage: Equilibrium (16), Monopoly (24,25), Oligopoly (27), Exchange/General Eq. (31), Externalities (34), Public Goods (36) For the most part: only cumulative to the extent that new material builds on old How to study: do workouts/quizzes/practice problems, come to OH with questions Next Thursdays class: review/sythesis. Will revisit important topics/messages Grading: see syllabus Exam Details Common-Pool Resources Public Goods Common-Pool Resources and Public Goods What do these goods/resources have in common? Fisheries (Public) freeways National Security Broadcast radio/tv Clean air National parks If anyone has access to the resource or can consume the good, then everyone can. E.g. you cant prevent someone from breathing air or receiving radio waves. Exam Details Common-Pool Resources Public Goods Public Resources and Public Goods What do these goods/resources have in common? Fisheries (Public) freeways National Security Broadcast radio/tv Clean air National parks We call these types of goods non-excludable because all consumers can consume them. Exam Details Common-Pool Resources Public Goods Common-Pool Resources Some of these goods are like regular goods in that one persons consumption detracts from others use E.g. fisheries can be overfished, public pastures can be overgrazed, freeways can be congested These types of goods are rival in consumption Goods that are non-excludable, yet rival in consumption are known as commons, or common-pool resources Exam Details Common-Pool Resources Public Goods Common-Pool Resources Problem: property rights are not well defined The Tragedy of the Commons occurs when people share the same resource without well-defined property rights...
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public_goods-ho_001 - Common-Pool Resources (Ch 34) and...

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