Introduction to Environmental Economics

Catalog description

This course, which presents an overview of the theory and empirical practice of economic analysis as it applies to environmental issues, first establishes a relationship between the environment and economics. It then develops the concept of externalities (or market failures) and the importance of property rights before exploring the valuation of non-market goods. It examines the practice of benefit-cost analysis and offers economic solutions to market failures, while highlighting pollution control practices, especially those based on incentives. Throughout, the course examines current issues regarding environmental protection around the globe.