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ECON 460: |
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| Summer 2017 | Office Hours: Thursdays 5:30-6:30 |
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ECON 460: |
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| Summer 2017 | Office Hours: Thursdays 5:30-6:30 |
Return to Home Page | |
Course Description: |
| The objective of the course is to apply economic models to environmental problems. After a brief examination of some of the key microeconomic models applied to environmental problems, a variety of topics in environmental economics will then be covered, with emphasis dependent on the interests of the class. Environmental policy analysis will be emphasized and applied to problems such as ecosystem degradation, climate change, urban air pollution, and water pollution. Other topics may include the effects of environmental policy on economic innovation and growth, international trade, and development. Seminar presentations will be related to these specific topics and dispersed throughout the semester. |
| Required Texts: |
Kolstad, Charles D. Environmental Economics. 2nd ed. New York, NY: Oxford University Press, 2000. ISBN: 0195119541 Environmental Economics: A Survey by Maureen Cropper and Wallace Oates JEL Vol XXX (June 1992) [1] Calculus Primer |
| Grading: | |||
In-Class Work/participation |
5% | Notes | |
Term Paper |
20% | Notes | |
| Midterm Exam | 30% | Notes | |
| Final Exam | 45% | Notes |
Topic |
Kolstad |
Supplimental Materials |
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| 1 | The Role of Government and Social Choice |
CH 1, 2 and 3. |
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| 2 | Efficiency and Markets |
CH 4 |
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& Market Failure and Externalities |
CH 5 |
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| 3 | Benefit Cost Analysis | CH 6 |
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| 4 | Environmental Demand Theory | CH 7, 8 |
(1) Intro to CV/EV (2) Calculating CV/EV |
| 5 | Regulating Pollution |
CH 11 |
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| 6 | Pigovian Taxes |
CH 12 |
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| 7 | CAC, Emission fees, Marketable permits |
CH 12 |
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| 8 | Property Rights | CH 13 |
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| 9 | More on Marketable permits: Cap and trade |
CH 14 |
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| 10 | Regulation with Unkown Controls |
CH 15 |
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| 11 | Risk, uncertainty and Moral Hazard |
CH 16 |
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Journal Articles |
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An alternative approach to the analysis of taxation Yoram Barzel JPE 1976 (Read only sections I to V; up to page 1190 only) |
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On Marketable Air-Pollution Permits: The Case for a System of Pollution Offsets KRUPNICK, OATES AND VANDEVERG JEEM (1983) Marketable Permits for the Prevention of Environmental DeteriorationMCGARTLAND AND OATES JEEM(1985) Environmental Regulation, Asymmetric Information, and Moral Hazard, Wainwright, K |
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| The structure of a contract and the theory of a non-exclusive resourceCheung, S.N.S. JLE 1970 pp 49-70 |
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The Use of Standards and Prices for Protection of the Environment William J. Baumol and Wallace E. Oates The Swedish Journal of Economics, Vol. 73, No. 1, Environmental Economics, (Mar.,1971), pp. 42-54 Prices vs. Quantities Martin L. Weitzman, The Review of Economic Studies(Oct., 1974) Uncertainty and the Choice of Pollution Control Instruments ZVI ADAR AND JAMES M. GRIFFIN, JEEM (1976) Emission Control Policies under Uncertainty GIDEON FISHELSON, JEEM (1976)
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Equilibrium in competitive insurance markets: an essay on the economics of imperfect information Rothchild, M and Stiglitz, JQE, 90, 1976 |
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Defensive Ependitures |
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Contingent Valuation |
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| Readings by Topic Category |
| Externalities & Property Rights |
. The Exchange and Enforcement of Property Rights Harold Demsetz Journal of Law and Economics, Vol. 7, (Oct., 1964), pp. 11-26
Some Aspects of Property Rights Harold Demsetz Journal of Law and Economics, Vol. 9, (Oct., 1966), pp. 61-70
The Transferability and Depletability of Externalities PETER J. W. N. BIRD JOURNAL OF ENVIRONMENTAL ECONOMICS AND MANAGEMENT 14, 54-57 (1987)
COMMENTS One More Externality Article HENRY M. PESKIN JOURNAL OF ENVIRONMENTAL ECONOMICS AND MANAGEMENT 15, 380-381 (1988) . One More Externality Article: Reply PETER J. W. N. BIRD JOURNAL OF ENVIRONMENTAL ECONOMICS AND MANAGEMENT 15, 382-383 (1988)
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| Pigouvian Taxes | External Diseconomies, Corrective Taxes, and Market Structure James M. Buchanan The American Economic Review, Vol. 59, No. 1, (1969), pp. 174-177 Required: An alternative approach to the analysis of taxation Barzel, Y JPE, 84, 1976 Recommended: Depletable Externalities and Pigouvian Taxation A. MYRICK FREEMAN III JOURNAL OF ENVIRONMENTAL ECONOMICS AND MANAGEMENT 11,173-179 (1984) Pigovian Taxes Which Work in the Small-Number Case DONALD WITTMAN JOURNAL OF ENVIRONMENTAL ECONOMICS AND MANAGEMENT 12, 144-154 (1985) Recommended: The Use of Standards and Prices for Protection of the Environment William J. Baumol and Wallace E. Oates The Swedish Journal of Economics, Vol. 73, No. 1, Environmental Economics, (Mar.,1971), pp. 42-54 |
Uncertainty |
Required Environmental Regulation, Asymmetric Information, and Moral Hazard Wainwright, K discussion paper Martin L. Weitzman The Review of Economic Studies, Vol. 41, No. 4, (Oct., 1974), pp. 477-491 Recommended: Uncertainty and the Choice of Pollution Control Instruments ZVI ADAR AND JAMES M. GRIFFIN JOURNAL OF ENVIRONMENTAL ECONOMICS AND MANAGEMENT 3, 178-188 (1976) Recommended: Emission Control Policies under Uncertainty GIDEON FISHELSON JOURNAL OF ENVIRONMENTAL ECONOMICS AND MANAGEMENT 3, 189-197 (1976)
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| Marketable Permits | Marketable Pollution Permits and Acid Rain Externalities Efficiency in Pollution Control in the Short and Long Runs: A System of Rental Emission Robert A. Collinge and Wallace E. Oates The Canadian Journal of Economics, Vol. 15, No. 2, (May, 1982), pp. 346-354
On Marketable Air-Pollution Permits: The Case for a System of Pollution Offsets ALAN J. KRUPNICK, WALLACE E. OATES AND ERICVANDEVERG JOURNAL OF ENVIRONMENTAL ECONOMICS AND MANAGEMENT 10,233-247 (1983)
Marketable Permits for the Prevention of Environmental Deterioration ALBERT M. MCGARTLAND AND WALLACE E. OATES JOURNAL OF ENVIRONMENTAL ECONOMICS AND MANAGEMENT 12,207-228 (1985)
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| Efficiency and Enforcement | An Empirical Analysis of Economic Strategies for Controlling Air Pollution EUGENE P. SESKIN, ROBERT J. ANDERSON JR. AND ROBERT 0. REID JOURNAL OF ENVIRONMENTAL ECONOMICS AND MANAGEMENT 10, 112- 124 ( 1983) The Structure of Penalties in Environmental Enforcement: An Economic Analyis KATHLEEN SEGERSON & TOM TIETENBERG JOURNAL OF ENVIRONMENTAL ECONOMICS AND MANAGEMENT 23, 179-200 (1992) Markets for pollution control when firms are noncompliant Permanent versus interim regulations: A game-theoretic analysis Nonpoint pollution control: Inducing first-best outcomes through the use of threats |
Chronological Listing |
Many articles are also listed above
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. The Exchange and Enforcement of Property Rights Harold Demsetz Journal of Law and Economics, Vol. 7, (Oct., 1964), pp. 11-26
Some Aspects of Property Rights Harold Demsetz Journal of Law and Economics, Vol. 9, (Oct., 1966), pp. 61-70
Harold Demsetz Journal of Law and Economics, Vol. 11, No. 1 (Apr., 1968), pp. 55-65
External Diseconomies, Corrective Taxes, and Market Structure James M. Buchanan The American Economic Review, Vol. 59, No. 1, (1969), pp. 174-177 . Cheung, S.N.S. JLE 1970 pp 49-70
The Use of Standards and Prices for Protection of the Environment William J. Baumol and Wallace E. Oates The Swedish Journal of Economics, Vol. 73, No. 1, Environmental Economics, (Mar., 1971), pp. 42-54
Martin L. Weitzman The Review of Economic Studies, Vol. 41, No. 4, (Oct., 1974), pp. 477-491 . An alternative approach to the analysis of taxation Barzel, Y JPE, 84, 1976
Uncertainty and the Choice of Pollution Control Instruments ZVI ADAR AND JAMES M. GRIFFIN JOURNAL OF ENVIRONMENTAL ECONOMICS AND MANAGEMENT 3, 178-188 (1976)
Emission Control Policies under Uncertainty GIDEON FISHELSON JOURNAL OF ENVIRONMENTAL ECONOMICS AND MANAGEMENT 3, 189-197 (1976)
Efficiency in Pollution Control in the Short and Long Runs: A System of Rental Emission Robert A. Collinge and Wallace E. Oates The Canadian Journal of Economics, Vol. 15, No. 2, (May, 1982), pp. 346-354
An Empirical Analysis of Economic Strategies for Controlling Air Pollution EUGENE P. SESKIN, ROBERT J. ANDERSON JR. AND ROBERT 0. REID JOURNAL OF ENVIRONMENTAL ECONOMICS AND MANAGEMENT 10, 112- 124 ( 1983)
On Marketable Air-Pollution Permits: The Case for a System of Pollution Offsets ALAN J. KRUPNICK, WALLACE E. OATES AND ERICVANDEVERG JOURNAL OF ENVIRONMENTAL ECONOMICS AND MANAGEMENT 10,233-247 (1983)
Depletable Externalities and Pigouvian Taxation A. MYRICK FREEMAN III JOURNAL OF ENVIRONMENTAL ECONOMICS AND MANAGEMENT 11,173-179 (1984)
A General Equilibrium Analysis of the Optimal Number of Firms in a Polluting Industry Robert E. Kohn The Canadian Journal of Economics, Vol. 18, No. 2, (May, 1985), pp. 347-354
Effluent Regulation and Long-Run Optimality DANIEL F. SPULBE JOURNAL OF ENVIRONMENTAL ECONOMICS AND MANAGEMENT 103-116 (1985)
Pigovian Taxes Which Work in the Small-Number Case DONALD WITTMAN JOURNAL OF ENVIRONMENTAL ECONOMICS AND MANAGEMENT 12, 144-154 (1985)
Marketable Permits for the Prevention of Environmental Deterioration ALBERT M. MCGARTLAND AND WALLACE E. OATES JOURNAL OF ENVIRONMENTAL ECONOMICS AND MANAGEMENT 12,207-228 (1985)
The Rate of Emission and the Optimal Scale of the Polluting Firm Robert E. Kohn The Canadian Journal of Economics, Vol. 19, No. 3, (Aug., 1986), pp. 574-581
The Transferability and Depletability of Externalities PETER J. W. N. BIRD JOURNAL OF ENVIRONMENTAL ECONOMICS AND MANAGEMENT 14, 54-57 (1987)
COMMENTS One More Externality Article HENRY M. PESKIN JOURNAL OF ENVIRONMENTAL ECONOMICS AND MANAGEMENT 15, 380-381 (1988) . One More Externality Article: Reply PETER J. W. N. BIRD JOURNAL OF ENVIRONMENTAL ECONOMICS AND MANAGEMENT 15, 382-383 (1988)
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