Overview

Overview

Before we begin Lesson 2, I would like to very much re-emphasize the importance of doing the readings. These lectures, both written and video, are here to help you understand how to apply the readings to the overall topic of the course. Lectures are based upon the readings and are intended to help you with understanding how this material applies to nonmarket strategies and renewable energy markets. This goes for this lecture and all lectures in this course. If there is a question that appears on a quiz or a test or any other kind of assessment that is based on the readings but does not appear in the notes, you are still responsible for this knowledge. Sometimes the readings can be difficult to understand, or you encounter unfamiliar terminology, or, some stretches of the reading might not seem so relevant at the moment. I encourage you, in such cases, to do your best and to be patient with yourself (and me). But, where time is of the essence, I encourage you to also be efficient.

In coming to understand markets, I hope you begin to see the markets themselves are fundamentally about a way to order the movement and trading of things of value. What is fundamental to markets is less the details in the movement and treating of things, and more in how order begins to emerge, through standards and standardization, and some sense of a common value to which these goods can be translated, such as monetary value in a specific currency. Markets can be ordered in multiple ways, and the notion of talking about a single set of rules that apply to all market conditions does not readily match what actually happens.

Learning Objectives

By the end of this lesson, you should be able to:

• define what standard and status markets are and identify key differences;
• identify the key features of a Neo-Classical Market, as described by Aspers; and
• assess for the key features of market formation and market ordering.

What is due for Lesson 2?

This lesson will take us one week to complete. Please refer to the Course Syllabus for specific time frames and due dates. Specific directions for the assignment below can be found within this lesson.

After completing the lesson by reading the text and reviewing the lesson notes, students are expected to participate in Topical Discussion and the Writing for Lesson 2.

Questions?

If you have any questions, please post them to our Questions? discussion forum (not e-mail), located under the Discussions tab in Canvas. I will check that discussion forum daily to respond. While you are there, feel free to post your own responses if you, too, are able to help out a classmate.