Environmental Economics
Spring 2008

 

2008 is a particularly exciting time to be studying environmental economics. It's not just that our local, national and global environmental challenges are as salient as ever. It's more that major opportunities -- again, at the local, national and global levels - are in front of us to harness the power of economic reasoning in order to improve environmental outcomes. For example, the Lieberman-Warner bill, currently being assesed in the United States Congress, has the potential to cost-effectively reduce greenhouse gas emissions. Another example: the 'greening' of WalMart and many other major global firms. The list really does go on.

This course is dedicated to the proposition that economic reasoning is critical for (a) analyzing the persistence of environmental damage and ecosystem destruction and (b) designing cost-effective environmental policies.

Over the next twelve weeks, my objective is that each of you:

1. Understands the economic approach to the environment:
2. Can use microeconomics to illustrate the theory of environmental policy:
3. Comprehends and can critically evaluate:

  • alternative environmental standards;
  • benefits and costs of environmental protection;
  • incentive-based environmental policies;
  • socially responsible business practices;
  • the role of social capital in determining environmental outcomes;
  • challenges in the global commons, including biodiversity preservation, energy production, and climate change.

4. Researches and helps to compile a first-rate consulting project.

The course schedule, outlined below, is the 12-week road map for our reading, discussions, and writing. Throughout the semester, feel free to contact me at the coordinates listed on the 'professor' page.

Good luck in this course.

Professor Isham