About this class
ü Understand the methods of estimating the social value of environmental resources.
ü Understand and apply fundamental tools and models of microeconomics to analyzing environmental questions, which involve cases where private market outcomes are not necessarily efficient (e.g., pollution, climate change).
ü Understand and interpret relevant graphical analyses.
ü Use microeconomic tools to analyze important environmental regulatory policies.
ü Compare different institutional approaches to environmental policy (regulation, market based, common law).
ü Understand the difficulties of formulating and evaluating environmental policy.
ü Understand the history and processes through which environmental policy has been made, and the difficulty of evaluating potentially corrective policies.
ü Familiarity with specific economic issues associated with environmental situations.
ü Understand the intertemporal trade offs in environmental issues, and the economic models used to evaluate them.
