Economic growth has been a powerful force through history in improving living standards throughout the world. At the same time, there is a growing recognition that environmental damages frequently accompany this growth, whether it be at the local level (soil degradation and deforestation), or the global level (climate change). Economics studies the allocation of scarce resources, but how can it incorporate "the environment" in a meaningful way that can help guide policy-makers in the 21st century? This course is a fast review of economic approaches and tools, and a review of a wide range of environmental policies, designed to manage the possible adverse impacts of economic expansions. The major emphasis in this course is on the market-based policies that guarantee incentive compatibility of these policies, thus, a higher chance of success.
Economic growth has been a powerful force through history in improving living standards throughout the world. At the same time, there is a growing recognition that environmental damages frequently accompany this growth, whether it be at the local level (soil degradation and deforestation), or the global level (climate change). Economics studies the allocation of scarce resources, but how can it incorporate "the environment" in a meaningful way that can help guide policy-makers in the 21st century? This course is a fast review of economic approaches and tools, and a review of a wide range of environmental policies, designed to manage the possible adverse impacts of economic expansions. The major emphasis in this course is on the market-based policies that guarantee incentive compatibility of these policies, thus, a higher chance of success.
