Transcript Welcome to ESM 204: The Economics of Environmental Management

Welcome to ESM 204:
The Economics of Environmental
Management
If you hate economics and/or you don’t know
what environmental economics is….this is the
perfect course for you!
Professor: Christopher Costello
TA: Scott Lowe
Contact Information
Costello:
4410 Bren Hall, 893-5802, costello@bren
Office Hours: Tuesday 3:00-4:00 and by appt.
Lowe:
3514 Bren Hall, 893-8633, slowe@bren
Office Hours: First week by appt.
Plan to attend office hours! Scott and I want
to get to know you, your experience, your
interests.
Course Vitals
20 lectures, Tuesday & Thursday
1 discussion section per week, run by
Scott
No discussion section first week.
You are expected to attend all lectures
and 1 discussion per week.
Workload: Above average. Expect 8
hours per week outside of class.
Grading
Homework Assignments
5 “mini-projects”, may work with a partner, submit 1
copy with both names….. 35%.
Midterm
Take-home exam distributed Feb 11, due Feb
18…15%.
Final Exam
Take-home (dist’d March 11, due March 19)….. 25%
In-class (March 19, 12:00-3:00)….. 25%
Cheating/plagiarism will not be tolerated!
Readings & Preparation
Readings: most available on web, rest
available in student lounge and on
library reserve. (* = required)
Please come to class prepared. I will
too.
I will call on you in class. Please help
make this an interactive experience.
Questions??
Lecture Style
Begin with brief overview from last
time, answer questions.
Start new material.
Ask students questions about readings.
Open discussion throughout.
What will we cover?
Course broken into 4 sections:
1.
2.
3.
4.
Evaluating public environmental projects
(6)
Measuring benefits and costs (3)
Regulation (6)
Managing renewable and non-renewable
resources (4)
Section 1: Evaluating public
environmental projects
1. Cost effectiveness vs. cost/benefit,
public goods, externalities
2. Efficiency & surplus
3. Inflation & discounting
4. Risk & uncertainty
5. Benefit cost analysis: applications
6. Social justice & environmental racism
Section 2: Measuring benefits
and costs
1. Costs of regulation and the “benefits
transfer” approach.
2. Revealed preference approaches
3. Stated preference approaches &
constructed markets.
Section 3: Regulation
1. Regulatory options and efficiency.
2. Incidence of environmental regulations.
3. Spatial and temporal dimensions of
environmental regulations.
4. Regulatory experience in developed vs.
developing countries.
5. Monitoring & enforcement.
6. Macroeconomic issues: green accounting.
Section 4: Managing renewable
& non-renewable resources
1.
2.
3.
4.
Rent, water, and common property.
Forest economics & management.
Fishery economics & management.
Non-renewable resources and energy.