This course considers the economic aspects of resource and environmental issues. After examining the concepts of externalities, public goods, and common property resources, we will discuss how to measure the cost and benefits of environmental policy, in order to estimate the socially optimal level ofthe environmental good. Applications of these tools will be made to air and water pollution, renewable and nonrenewable resources, and global climate. In addressing each of these problems we will compare various public policy responses such as regulation, marketable permits and tax incentives.
Prerequisites: ECON 101 (Introduction to Microeconomics).
Click here for the PDF version of the Spring 2008 syllabus.