ECON 460: |
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Summer 2013 | Office Hours: Thursdays 10:00-11:00 |
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(This is an excellent Survey of current issues and topics in Environmental Economics)
Final Exam Information
Papers:
Study Questions
Assignments |
10% | ||
Term Paper A |
10% | Due Week 6 | 5 pages, not including graphs, bibliography, or title page. See description below |
Term Paper B |
20% | Due Week 12 | 12 pages: 5 from Paper A plus 7 additional pages. See description below Note: Paper B will not be accepted if Paper A has not been submitted |
Exams |
60% | MT week 7 | Selected Answers to Midterm Study Questions from Text |
Homework Assignments
Problem Sets | Due Date | Answer Keys and suppliments |
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HW 1:Pg 87 #1, Pg 110 #1, #5, #6 |
May 23, 2013 | Homework 1 Key |
Term Paper guidelines
The paper for this course is to be be written in two parts: A and B
Term Paper A is a five page paper that identifies and summarizes an environmental problem. This paper is an empirical look at an issue. It should demonstrate knowledge and understanding of the nature of the problem, the significance of the damage, a review of past and current policy and regulation and an assessment of the some possible new initiatives or technologies. It is not to be an economic analysis or offer recommendations for dealing with the problem.
Term Paper B is an economic paper that builds directly on Term Paper A. It should make use of the models and the journal articles from the courses to do an economic analysis and policy critique. It may either involve the use of models to demonstrate the relative welfare impact of alternative policies or regulations or it may be a critique supported by a literature review.
Note 1: Term Paper A should be integrated into Term Paper B such that it reads as one paper
Note 2: Literature review. This means summarizing a group of papers in the field of environmental economics. Further, you must tie the papers together under some common theme. The literature review will identify the contribution each paper makes in the field. In some cases one paper may be an extension of another paper in the review; in other cases, two papers may offer a differing view. To give you some structure, the following conditions must be met.
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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Overview of Cdn Enviro Issues | Slides from Lecture | ||
3 | Market Failure and Externalities |
CH 5 |
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& Benefit Cost Analysis | CH 6 |
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4 | Environmental Demand Theory | CH 7, 8 |
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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)
Required: |
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
Required: 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)
Required: 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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