ECO-311: Environmental Economics

The microeconomic analysis of society's pursuit of sustainable environmental outcomes, using both the private (market) tools and public (government) policies. Market solutions are often inefficient with respect to the natural environment, and this course examines the ways that governments may enhance both the efficiency and equity with which environmental/ecological resources are utilized. Attention is given to topics such as global climate change, acid rain, ozone, wilderness preservation wetlands, biodiversity, and water quality. Topics also include Natural Resource management, in particular, forestry and ocean fisheries. An examination on "best practices" in management of natural resources and the ways governments can improve outcomes for present and future generations using tools such as effluent taxes, benefit-cost analysis, camp-and-trade policies, public ownership of resources best technology requirements, and input taxes.