Environmental Economics (372-0-20)

Instructors

Mark Witte

Meeting Info

Frances Searle Building 2107: Mon, Wed, Fri 12:30PM - 1:50PM

Overview of class

The environment and our natural resources are scarce yet their values are quite hard to determine. Furthermore, there are a variety of problems with the incentives to use them well. Using the tools of microeconomic analysis and some econometrics, this course will define and examine "environmental problems" in terms of economic efficiency. We will also discuss the methods (and shortcomings of these methods) used by economists and policymakers to place dollar values on environmental amenities (since such valuations will determine what policy options are deemed "efficient"), such as benefit-cost analysis. Then we will apply these tools to look at a particular set of environmental problems caused by negative externalities transmitted through naturally occurring amenities, and the effects of the policies we construct in response to these problems. NOTE: This class is not open to students who have taken Economics 370: Environmental & Natural Resource Economics.

Registration Requirements

Econ 281, 310-1, 310-2 (or equivalents)

Learning Objectives

Students will understand how the environmental is valued and how our interactions with it can result in bad social outcomes, and how we can work to prevent this. This will include local environmental issues and also climate change.

Teaching Method

Two lectures and one TA section per week.

Evaluation Method

Midterm, final, homework

Class Attributes

SoC Individual and Social Behavior Distro

Enrollment Requirements

Enrollment Requirements: Pre-requisite: Students must have taken ECON 310-1 or MMSS 211-1 and ECON 281 or ECON 381-1 or MATH 386-1 or IEMS 304 or STAT 350 to successfully enroll in this course.