Course description
This course surveys the most critical topics in environmental economics. Economics, the science of how scarce resources are allocated, is at the core of our most challenging environmental issues. In a world of increasing scarcity and competing demands, economic analysis can guide public policy to efficient use of resources. Market failures are at the root of many of our most serious environmental problems. Remedies include getting prices to reflect true costs, providing productive incentive structures, and explicitly valuing environmental amenities. Topics covered in this course include the economics of population growth, poverty and income distribution, market failures, economic valuation, economic incentive instruments, food and water resources, international agricultural markets, fisheries, and wildlife conservation.