ECON 386 - Environmental Policy and Natural Resource Management

Institution:

Williams College

Subject:

Economics

Description:

Economics has a rich body of advice for policymakers struggling to manage and preserve environmental assets in developed and developing countries. In this course, we will study environmental policy and natural resource management from a microeconomic (and, to a lesser extent, macroeconomic) perspective. Throughout the course, we will emphasize issues of efficiency and equity, and we will be reminded again and again that the challenges are both technical and ethical. We will learn to identify cases in which markets may work well and cases of market failures. We will also look at actual policies worldwide to learn about policy implementation and pitfalls. The course is undergirded by concepts like sustainability, welfare within and across generations, market failure, and valuation of environmental assets. We will study pollution, generally seeking an efficient level of pollution, since reducing pollution always comes at a cost. We will study both localized air and water pollution and larger global problems, with special attention to climate change. There are many policies (including taxes and "cap and trade") that may be useful in cost-effectively fighting pollution, and we'll study them. We will study the exploitation and management of both nonrenewable and renewable resources, including global energy issues. We will also examine the relationship between development and the environment, touching on controversial topics such as the "natural resources curse" and the relationship between economic growth and the demand for environmental quality.

Credits:

3.00

Credit Hours:

Prerequisites:

Economics 251, familiarity with statistics

Corequisites:

Exclusions:

Level:

Instructional Type:

Seminar

Notes:

Additional Information:

Historical Version(s):

Institution Website:

www.williams.edu

Phone Number:

(413) 597-3131

Regional Accreditation:

New England Association of Schools and Colleges

Calendar System:

Four-one-four plan

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