Cmty Dev & Apld Econ: SU:Principles of Comm Dev Econ

Introduction to principles of microeconomics and their application to food and agricultural markets, resource management, and community development.

Open to Degree and Continuing Education students

This course is a general introduction to microeconomic theory with specific applications to community development issues, broadly defined. It will draw heavily on insights from the transdisciplinary field of ecological economics. Ecological economics differs from conventional economics in assuming that the economic system is embedded in social and political systems, and the complex human system is embedded in a complex, finite global ecosystem subject to the laws of physics and ecology. The course also provides enough background in neoclassical (mainstream) economics. The goal of this course will be to provide enough background in both neoclassical and ecological economics that you can apply these theories to real life situations in your community, in the nation and in the world, and readily pursue higher level courses in either field. Our overall objective for this course is to try and answer the following economic questions, with an emphasis on their relevance to community development: What are the desirable ends towards which societies/communities should allocate their available resources? What are the available resources, and what are their characteristics relevant to allocation? Based on the nature of the scarce resources and human nature, what allocative mechanisms are best for achieving these desired ends?

Given the size of the course, I use the lecture format, but expect student participation. I assign weekly readings and weekly assignments, which I expect will take about 6 hours to complete. You will need to do all the readings. I also give daily i-clicker mini-quizzes, so attendance is mandatory. Required textbooks include Daly and Farley (2010) Ecological Economics: Principles and Applications (ISBN-13: 978-1597266819). In the past I let students use almost any basic introduction to microeconomics textbook, all of which are virtually identical, but this summer I will read Microeconomics in Context to see if I should use that instead. While the course is difficult, students have multiple opportunities to earn bonus points and improve their grades.

Homework assignments.................10-40 points each, total 300 points (30%) Daily i-clicker Quizzes.....................................................................(12.5%) Midterm Exam 1 OR weekly post on current events.....................(12.5%) Midterm Exam 2 OR weekly post on current events.................... (12.5%) Class participation (including attendance).................................... (12.5%) Final Exam (comprehensive)........................................................... (20%)