Environmental Economics

This course is dedicated to the proposition that economic reasoning is critical for analyzing the persistence of environmental damage and for designing cost-effective environmental policies. The objectives of the course are that each student (a) understands the economic approach to the environment; (b) can use microeconomics to illustrate the theory of environmental policy; and (c) comprehends and can critically evaluate: alternative environmental standards, benefits and costs of environmental protection, incentive-based environmental policies, socially responsible business practices, the role of social capital in determining environmental outcomes, and challenges in the global commons. (ECON 0155) 3 hrs. lect.