Course Code
Academic Year
The course applies microeconomic theory and analysis to environmental issues faced by businesses and governments globally. Students examine strategies for assessing trade-offs between environmental preservation and other economic and social activities. Frameworks for examining and solving environmental problems are presented, developed, and use to explain standards, control, and mitigation. Economic concepts developed and applied include: economic efficiency and welfare measurement, market failure and government intervention, measurement and valuation of the benefits and costs of environmental resources and policies, and the relationship between the environment and the aggregate economy. Specific environmental issues examined include: air quality, water quality, ozone depletion and global warming, various forms of waste, and pesticides and chemicals. The growing and promising role of sustainable approaches is also examined.