PUBPOL 5380

Markets, the Environment and Public Policy

Course Description

Course information provided by the Courses of Study 2024-2025.

This course is a survey of environmental economics and policy, covering both general models and specific applications. We learn how economists estimate the demand for environmental goods and services and the costs of preserving them, and then study the efficient extraction of oil and minerals, economics of pollution control, climate change, fisheries, forests, and endangered species. We also cover the intersection of international trade and environmental regulation, as well as sustainability.

When Offered Spring.

Prerequisites/Corequisites Prerequisite: PUBPOL 5470 (or equivalent), and PUBPOL 2100 or PUBPOL 2101.

Comments Recommended prerequisite: should be comfortable following along with algebraic models and graphing in class, and using these tools on your own to solve problems on assignments and the final exam. Calculus used occasionally, but not on assignments/exams.

• Understand market failures most relevant to environmental policy (externalities, public goods, common property) and the role of policies intended to address these market failures.
• Interpret and use economic models of efficient pollution control and natural resource management.
• Distill basic information from peer-reviewed economics journal articles focusing on environmental policy, and interpret economic content in media articles on environmental policy and management.
• Effectively communicate principles of market-based environmental policy to others.
• Model respectful disagreement using reasoned economic arguments with appropriate support.

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