Objective: The objective for this module is to review basic economic theory. A secondary objective is to get comfortable with using some of the basic features of WebCT.

Read the following chapters in An Economic Approach to Environmental and Natural Resources.
Chapter 1 – Introduction and definitions
Chapter 2 - Economic Efficiency and Markets
Appendix 2 a & b – Discounting and Present Value, Dynamic Efficiency
Chapter 3 – Market Failure and Government Intervention

Quiz (50 points) Date Completed ________________ Points ____
Take Quiz 1 consisting of ten short answer questions over the material. You’ll have three shots at the quiz. Since the questions are short answer, not multiple choice, I will have to grade it. Do it early so I have time to grade it and get it back to you. Then you’ll be able to decide whether or not you want to take it again.

Discussion (10 points) Date Completed ________________ Points ____
Introduce yourself to the rest of the class through a post in the Introduction topic of the discussion area.

New or Interesting Stuff Discussion (20 points) Date Completed ________________ Points ____
Post an entry in the Module 1 topic on something that you found new or interesting in the first three chapters.

Course overview activity (20 points) Date Completed ________________ Points ____
Read through the syllabus and peruse the text book’s table of contents. Read through the Application Modules (3 through 8) paying particular attention to the paper topics.

You will be writing 2-3 page papers for each of the six application modules. In addition, you will be critiquing or supporting the arguments made in your fellow students’ papers. The paper topics are listed in each of the application modules.

Having become familiar with the content of the course, suggest two additional paper topics. These can be for any of the application modules. Include the reasons you would like to see them as topics. Post these in the discussion area for Module 1 – Paper Topics

Respond to two of your fellow students’ postings. You might want to explain why the topic would be good or bad, or you might want to suggest re-wording it for clarity or other reasons.

Grading – 10 points for two paper topics and the reasons for your suggesting them. 5 points each for responding to your peers.

The instructor will include the best of the paper topics in Modules 3-8.

Total points for Module 1 (100 possible) Your point total ____