PECO 315 Environmental Economics
The purpose of this course is to understand the role of economics in environmental issues, especially in the formation of environmental policy. The course reviews major economic concepts such as economic efficiency, externalities, market failure, choice and regulation, economic sustainability, etc. particularly in their application to environmental issues. The course also uses economic tools such as cost-benefit analysis to evaluate environmental policy options. Case studies involving command-and-control strategies (regulations, standards, etc.) and incentive-based strategies (subsidies, permits, etc.) will be examined. We will examine the relevance of positive economics and normative economics to understand environmental policies.
Prerequisite
PECO 110 or instructor's permission