ECON2505 Env Econ, FA2015
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1. What is your understanding of the neoclassical perspective as presented by the authors? What are the assumptions about human economic behavior?
My understanding of neoclassical is through prices, outputs, and income distributions with supply and demand, by the maximization of utilities you are able to maximize profits. The author’s writes about taxing carbon, in order to address the issues of climate change. By taxing carbon, the companies that use a large amount of this are force to reduce the amount in order to save money.
2. What is your understanding of the neo-Keynesian perspective? How does it differ from the neoclassical perspective? What do neo-Keynesian economists view as the most important policies to address the challenges of climate change?
Innovation Economics according to the authors is finding out what are the problems in society and then finding a solution to it. Through this process you are able to improve by increasing profits by increasing productive and innovations.