ECON 4901

Sustainable Development: Theoretical Issues in Dynamic Economics

Course Description

Course information provided by the Courses of Study 2014-2015.

Exploration of analytical issues involving sustainable development. Sustainability is interpreted to encompass two recurrent themes in dynamic economics: productive efficiency and intergenerational equity: "development that meets the needs of present generations without compromising the ability of future generations to meet their needs." The specific topics to be covered include: the role of prices in attaining efficiency over time in a decentralized economy; theoretical foundations of environmental economics: externalities and public goods, the Pigouvian approach; optimal consumption and pricing of an exhaustible resource; the problem of the commons; evolution, natural balance and extinction: models of renewable resources; profit maximization and extinction; efficient and optimal intertemporal allocation of resources when an exhaustible resource is an essential input; and intergenerational equity, sustaining a target consumption level.

When Offered Spring.

Permission Note Enrollment preference given to: Juniors and Seniors.

Distribution Category (SBA-AS)

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