Introductory Environmental and Resource Economics

Catalog description

Apply principles of economics to analyze environmental protection policies and natural resource use decision. Examine contemporary policy issues. E RRE (AG EC) 201 Introductory Environmental and Resource Economics (3) An introduction to the concepts, theories, and applied methods used in the economic analysis of environment and natural resource issues. The course covers topics such as the principles of market efficiency, why the market often fails where environmental and natural resource issues are concerned, and environmental policy prescriptions and tools designed to correct this market failure. These principles and tools are explored with respect to air and water pollution, management and use of renewable natural resources such as forests and fisheries, and the unique problems of managing nonrenewable resources such as minerals and oil. The course aims to give students an understanding of how traditional economic principles can be used to suggest and evaluate possible responses to the environmental and resource problems facing society.