This is an intermediate economics course focusing on the economics of environmental problems and the solutions to those problems. We will learn to use economic tools to better understand and evaluate environmental questions relating to pollution, environmental amenities, sustainable development, and climate change. The course will be taught in three units: the first will develop the foundational tools necessary for economic analysis of environmental problems, the second will examine the design of environmental policy, and the third will explore global issues in environmental economics.
- Define and understand the concepts of social optimums and efficiency as benchmarks for describing how goods and services are allocated in society.
- Identify market failures and their causes, describe how they can result in inefficient equilibria, and interpret their effects across a range of settings.
- Solve mathematical problems to compare and contrast market-based solutions to environmental problems.
- Articulate some of the important intellectual contributions to the field of environmental economics.
- Extend concepts from class to discuss other kinds of environmental problems using the tools and methods learned in this course.