ECON 456 San Diego State University Abman Spring 2017

ECON 456 San Diego State University Abman Spring 2017
Econ 456 – Quiz 4
Answer the questions below typed and double space. Please submit a hard copy of your responses by May 10th at the start of the final exam.
1. (1/2 page) Listen to the podcast Norways got advice for Libya. What are the policies that Farouk al-Kasim advised Norway to enact in order to avoid the resource curse ? Be thorough. Was Norway in a unique position to pass such policies? Why or why not?
2. (2 pages) Listen to the podcast The Rhino Hunter. Corey Knowles argues that hunting the black rhino is the best way to save this critically endangered species. Explain the economic logic behind the argument. Your answer should cover, willingness to pay, property rights, open access (Hint: poaching), free-riding, public goods, use values and existence values. Do you agree with this logic? Why or why not? Evaluate the evidence in the rest of the podcast that either supports this claim or refutes it.

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