In order to fully understand the application of environmental economics it is important to have a basic understanding of economics and fundamental building blocks that the theory is based on. For those of you that are new to the field we have put together a few exercises with answers to help you get up to speed. We will not go through these in class, but if you struggle, feel free to ask Jens and/or Magdalena to explain and go through exercises where you have gotten stuck.

As mentioned in class, we also recommend that you start to play around with AI and ChatGPT as a learning tool. So in addition to the extra exercises, we have also put together a Glossary of Economic Concepts that you might find helpful to ask ChatGPT to explain and give you additional exercises with answers if you feel that would help you.

Is it your first time using ChatGPT? Don't worry, here are a few Prompts to get you started:

Prompt 1:

"Hi ChatGPT! I am a student at Chalmers Technical University in Sweden and I am taking a masters course in Environmental Policy Instruments given by the Environmental Economics Department at University of Gothenburg. Would you please list the most common basic economic concepts that are related to Environmental Economics?"

Prompt 2:

"This is great. Could you please provide me with some basic exercises using the maths that's commonly used in economics and also provide solutions?"

Prompt 3:

"This is great. Can you please create a question, with solutions, related to consumer utility maximisation problems?"

Too easy? Try prompt 4:

"This is great but I think this is too easy. Can you please come up with a more advanced/complicated exercise, also with solution?"

Basic Economics Exercises UNA016.pdf

Was this helpful? Or not? Please let us know what you think. We are here for your and want create a learning environment where you can use your full potential and learn as much as you wish so your feedback in highly valued! You can email or talk to Magda during class :-) (Or any of the other teachers)