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Environmental Economics (3)

Course Level: Undergraduate/Graduate

An analysis of the relationship between economic activity and the natural environment. The course focuses on using economic theory to address environmental policy issues. Policy measures for regulating pollution and managing common property resources are explored, including emission taxes, tradable pollution permits, and property rights solutions. Applications to global environmental issues such as climate change and local environmental problems are emphasized. Students gain an understanding of the meaning of efficiency and sustainability and the types of policies required to achieve them. Usually offered every fall. Prerequisite: ECON-603 or ECON-600 or ECON-803.