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Summary ECO2003 week 2

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University Of Cape Town (UCT)
Course
ECO2003 (ECO2003)










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Institution
University of Cape Town (UCT)
Course
ECO2003 (ECO2003)
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Uploaded on
July 21, 2023
Number of pages
16
Written in
2022/2023
Type
Summary

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  • eco2003

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WEEK 2 RECAP
SLIDES

COERCION AND FREE EXCHANGE


TWO APPLICATIONS OF THE FARMING MODEL



Learning outcomes

• Technology, biology, economic institutions and people’s preferences are all
important in determining economic outcomes
• Institutions affect the power and other bargaining advantages of economic agents
• See how changes in institutions can be used to enhance welfare of some individuals

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