Resources and Environmental Economics
Environmental economics primarily examines shortcomings of the market system and the impact of economic activity on the environment. Traditional regulation of the U.S. economy, including command and control policies, is briefly discussed. The main focus of the National Resources and Environmental Economics class is the application and use of economic instruments in improving environmental quality. Other topics include the valuation of environmental resources and prospects for sustainable development.
The course will provide a basic understanding of how economics and environment have been related historically, an ability to analyze environmental issues in light of economic theory and application, and knowledge of central ethical and public service issues relating to economics and the environment. The course includes an overview of environmental economics, natural resource economics, ecological economics and a review of basic economics. It also discusses market failure and rationale for public policy, government intervention and regulation of the U.S. economy, the optimal level of pollution, lack of property rights, tragedy of the commons; valuing the environment, benefit-cost analysis, environmental policy and the economy, the “greening” of cooperate America, sustainable development, environmental regulations and trades, environmental regulations and a firm’s competitiveness, air pollution policy, water pollution policy, toxins and hazardous material and solid waste policy.
Coursework may include papers and presentations about various course topics.