TAILIEUCHUNG - Lecture Issues in economics today - Chapter 19

After reading this chapter, you should be able to: Explain the nature of economic rent and how it is determined; describe the loanable funds theory of interest rates; demonstrate how interest rates relate to the time-value of money and vary based on risk, maturity, loan size, and taxability; relate why economic profits occur, and how profits, along with losses, allocate resources among alternative uses; list the share of . earnings received by each of the factors of production. | Chapter 19 The Environment Chapter Outline HOW CLEAN IS CLEAN ENOUGH? THE EXTERNALITIES APPROACH THE PROPERTY RIGHTS APPROACH ENVIRONMENTAL PROBLEMS AND THEIR ECONOMIC SOLUTIONS How Clean is Clean Enough Economists answer most “how much is enough” questions with the same answer: “until the marginal benefit equals the marginal cost.” The right level of environmental cleanliness is achieved when the value of cleaning the environment a little more equals the cost of doing so. The Dirty Room Example Cleaning your room (dorm room or your own bedroom) can be done to many degrees A short time can be spent getting things off the floor (high marginal benefit, low marginal cost). More time can be spent with vacuuming and straightening (moderate marginal benefit, moderate marginal cost). Even more time can be spent deep cleaning, removing stains from carpets, dusting all shelves and moving furniture so as to clean behind them (for most low marginal benefit and high marginal cost.) Modeling .

• Kinh tế học
• Economic principles
• Economic policies
• Lecture Economics
• Economic rent
• Economic profit
• Loanable funds theory
• Principles of economics
• Lecture Principles of economics
• Aggregate demand
• Aggregate supply
• Short run economic fluctuations
• Economic fluctuations
• Market imperfections
• The international economy
• Economic growth
• Average labor productivity
• Short term economic fluctuations
• Symptoms of business cycles
• Lecture Microeconomics
• Economic problem
• Modern economic growth
• Growth accounting
• Economic immigrants
• Legal immigrants
• Demand shocks
• Lecture Macroeconomics
• Kinh tế vĩ mô
• Economic theory
• Economic perspective
• Marginal analysis
• Economic systems
• Market system
• The cost of production
• Economic costs
• economic
• management
• Principles of Microeconomics
• ten principles of economics
• tradeoffs
• rational
• Micro ECON 5
• Economic analysis
• Economic decision makers
• Cost in the firm
• Production in the short run
• Thinking like an economist
• Economic models
• Circular flow diagram
• Production possibilities frontier