Final ExamECON 2505IDInstructions: • Provide a two-paragraph answer for each of the three questions below. • Please refer to relevant readings and/or lectures where indicated. Do not do a Google or other online search for answers, definitions, etc. • All of the readings and power point presentations, etc. covered in this exam can be found in the Lectures/readings/videos folder. Links to guest lectures are included here.• Be sure to carefully review your writing before you submit your exam.• Complete the exam no later than 11:59 PM, Thursday, December 17.1. In her guest lecture, “Behavioral Economists’ Perspective on Climate Change, Intertemporal Choice,” Prof. Bayaz Ozturk discusses some of the leading theories about when it is best to fight climate change. A) What assumptions about human behavior do these models make?B) In what ways are these models not based on actual human behavior? Link to lecture: https://www.dropbox.com/scl/fi/t38g4g2ak6ciyvn61czyk/Behavioral-Economist-s-Perspective-onClimate-Change.pptx?cloud_editor=powerpoint&dl=0&rlkey=rpwl1ouev576dnw8y9qsm8blf2. The reading, “The Elephant in the Boardroom: Why Unchecked Consumption is not an Option in Tomorrow’s Markets, ” (del Pino, et. al.) argues that most business growth models depend upon an ever-increasing level of consumer spending on their products. Identify three reasons that this model is not sustainable economic and an environmental perspective. Please provide clear, detailed explanations for your reasons.3. In a detailed discussion, explain how the transtheoretical model of behavioral change can be applied to improve the success of a new comprehensive recycling program that is expanded to include all household items such as clothing and furniture. View Prof. Amanda Almond’s guest lecture,” Conservation Psychology and the Natural World.”Link to lecture: https://www.youtube.com/watch?v=ptz-pbR04SY&feature=youtu.be
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