ECON 3850

Economics and Environmental Policy

Course Description

Course information provided by the Courses of Study 2020-2021.

Introduction to the use of economics as a tool in forming and evaluating environmental policy, with a focus on how economists measure effects of environmental quality and regulation. Topics include: externalities in an environmental context; regulation methods such as command and control, Pigouvian taxation, and cap and trade; methods for measuring the costs and benefits of environmental policy; overview of current environmental legislation; environmental quality and health; regulation and environmental justice.

When Offered Fall.

Forbidden Overlaps Forbidden Overlap: due to an overlap in content, students will receive credit for only one course in the following group: AEM 4510, ECON 3850, ECON 3865, PAM 3670, PAM 5970.  

Distribution Category (SBA-AS, SSC-AS)

• Students will be able to explain the reasons for market failure in the presence of externalities in an environmental context.
• Students will be able to identify common methods of government intervention in environmental regulation, and explain relative strengths and weaknesses in the context of both social efficiency and equity.
• Students will be able to discuss and evaluate methods used to measure the economic effects of environmental quality and various environmental policies.
• Students will be able to address the common trade-offs between equity and efficiency in environmental policy, including environmental justice.

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