Course Description
Application of the principles and methods of economics to the study of how scarce environmental resources are allocated by individuals and society. Focus on the role of incentives to manage the natural environment and on how to design economic mechanisms to bring into balance environmental impacts with human desires.
Additional Requirements for Graduate Students:
Students will write and present to the class a research study
suitable for submission to annual national and international
meetings of environmental economists and revision for
submission to a quality journal in their field.
Athena Title
Environmental Economics
Prerequisite
AAEC 2580 or AAEC 2580E or ECON 2106 or ECON 2106E or ECON 2106H
Undergraduate Pre or Corequisite
AAEC 3580-3580L or permission of department
Semester Course Offered
Offered fall
Grading System
A - F (Traditional)
Course Objectives
Many contemporary environmental problems share a strong economic component: environmental damage as a result of the production and consumption of goods and services. The purpose of this course is to apply economic analysis to the study of environmental problems and policies. In the process, students will become familiar with the basic structure of environmental policy and regulation in the U.S. Individual and group projects will help students develop research and analytical skills relevant to environmental problems. Graduate students enrolled in the course will obtain additional training and instruction in advanced theory and economic analysis of environmental regulations and policies through separately assigned readings, homework sets and a semester research project. The course also offers students basic scientific principles of economics that govern natural systems. Using resource issues and economics, the course addresses the consequences of human activity on local, regional, and global natural systems.
Topical Outline
1. Tools of analysis 2. Efficiency and markets 3. Benefits and cost 4. Discounting 5. Policy evaluation 6. History 7. Penalties 8. Water 9. Air pollution 10. Hazardous wastes
Syllabus