ECON 231 - Environmental Economics and Policy

Cross-Listed as ENVI 231

This course studies the economics of public policy toward the environment. We begin by examining the problem of market failure in the presence of externalities and public goods. Then, we consider public policy responses to these market failures, including command-and-control regulations, tax and subsidy incentives, marketable pollution permits, voluntary programs, and information as regulation. We consider these policies in contexts such as local pollution, climate change, threats to biodiversity, environmental justice, international trade, and development. In addition, we learn how to measure the costs and benefits of pollution control. By the end of the semester, you will learn how economists think about environmental problems, understand the advantages and disadvantages of a range of environmental policies, be able to conduct a cost-benefit analysis, and have a complete economic analysis of an environmental problem. This course counts as a Group E elective. Prerequisite(s): ECON 119 or ECON 129. C- or higher required for all prerequisites. Offered occasionally. (4 Credits)