This course develops economics tools for environmental policy analysis and management. Economics can offer unique perspectives on incentives to deplete and/or protect environmental resources, and can provide insights on valuing environmental resources and incorporating these values into policy design.
We explore ways that economics can be used to define, analyze, and resolve environmental problems, emphasizing the optimal role for public policy. The economic perspective is placed within a broader management perspective and ways in which these can be integrated are discussed. Broad concepts considered include: valuing social benefits provided by the environment; evaluating the social costs and benefits of alternate environmental policies; determining the optimal level of pollution control and choosing policies to achieve it; and managing natural resources, both renewable (e.g. forests, fisheries, and water) and nonrenewable resources (e.g. oil and minerals).